Common use of ANNUAL LEAVE DAY REDEMPTION Clause in Contracts

ANNUAL LEAVE DAY REDEMPTION. a. Members who have accumulated the maximum number of leave days will continue to accrue days during the school year, in accordance with Article V, Section 1, which may be used during that year. Any such days remaining at the end of the school year will be redeemed at seventy-five dollars ($75) multiplied by the number of accumulated leave days beyond maximum, as defined in Section 3. The payment will be made in September for the preceding school year to members who are returning the following year or who have provided timely notice of resignation or retirement.

ANNUAL LEAVE DAY REDEMPTION. a. Members who have accumulated the maximum number of leave days will continue to accrue days during the school year, in accordance with Article V, Section 1, which may be used during that year. Any such days remaining at the end of the school year will be redeemed at seventy-five fifty dollars ($7550) multiplied by the number of accumulated leave days beyond maximum, as defined in Section 32. The payment will be made in September for the preceding school year to members who are returning the following year or who have provided timely notice of resignation or retirementresignation.