Common use of Annual Sell Back Clause in Contracts

Annual Sell Back. Once every fiscal year during the month of July an employee who has accumulated 240 unused sick leave hours shall be eligible to sell back to the City one-half of his annual accrued but unused sick leave hours in excess of 240 hours, at the rate of $.75 on the dollar, based upon the hourly rate of pay in effect as of June 30th. The remaining one-half of annual accrued but unused sick leave hours will remain in the employee's bank of accumulated sick leave.

Annual Sell Back. Once every fiscal year during the month of July an employee who has accumulated 240 unused sick leave hours shall be eligible to sell back to the City one-half of his annual accrued but unused sick leave hours in excess of 240 hours, at the rate of $.75 .70 on the dollar, based upon the hourly rate of pay in effect as of June 30th. The remaining one-half of annual accrued but unused sick leave hours will remain in the employee's bank of accumulated sick leave.

Annual Sell Back. Once every fiscal year during the month of July an employee who has accumulated 240 unused sick leave hours shall be eligible to sell back to the City one-half of his or her annual accrued but unused sick leave hours in excess of 240 hours, at the rate of $.75 .70 on the dollar, based upon the hourly rate of pay in effect as of June 30th. The remaining one-half of annual accrued but unused sick leave hours will remain in the employee's bank of accumulated sick leave.

Annual Sell Back. Once every fiscal year during the month of July July, an employee who has accumulated 240 unused sick leave hours hours, shall be eligible to sell back to the City one-half of his annual accrued but unused sick leave hours (in excess of 240 hours, ) at the rate of $.75 .70 on the dollar, dollar based upon the hourly rate of pay in effect as of June 30th30. The remaining one-half of annual accrued but unused sick leave hours will remain in the employee's bank of accumulated sick leave.. The employee may instead convert the equivalent amount of hours, after the $.70 on the dollar conversion, to vacation pay. (See Exhibit C.)

Annual Sell Back. Once every fiscal year during the month of July July, an employee who has accumulated 240 unused sick leave hours shall be eligible to sell back to the City one-half of his annual accrued but unused sick leave hours in excess of 240 hours, at the rate of $.75 .70 on the dollar, dollar based upon the hourly rate of pay in effect as of June 30th30. The remaining one-half of annual accrued but unused sick leave hours will remain in the employee's bank of accumulated sick leave.. The employee may instead convert the equivalent amount of hours, after the $.70 on the dollar conversion, to vacation hours. (See Exhibit D.)