Annual Optional Pay. Out for Accumulated Sick Leave (cont’d) An eligible employee who applies for a cash pay-out will receive a gross payment equal to the employee’s daily rate of pay on the employee’s last regular employment day of that school year times 80% of the number of unused sick leave days earned that school year. It is understood that this payment shall be subject to all legal withholdings and is not tax sheltered. The above options may be exercised by the employee if he/she has accumulated sixty (60) or more days of unused sick leave at the end of any school year (June 30) and has not used more than three (3) sick leave days that school year as set forth above.
Appears in 6 contracts
Samples: Collective Bargaining Agreement, www.palmbeachschools.org, Collective Bargaining Agreement
