Common use of Annual Sick Leave Buy-Back Option Clause in Contracts

Annual Sick Leave Buy-Back Option. In January of the year following any year in which a minimum of sixty (60) days of leave for illness or injury is accrued, and each January thereafter, any eligible Employee may exercise an option to receive pay for unused sick leave accumulated in the previous year at a rate equal to one

Annual Sick Leave Buy-Back Option. In January of the year following any year in which a minimum of sixty (60) days of leave for illness or injury is accrued, and each January thereafter, any eligible Employee may exercise an option to receive pay for unused sick leave accumulated in the previous year at a rate equal to oneone (1) day's pay for each four (4) full days of accrued sick leave in excess of sixty (60) days. Leave for illness or injury for which compensation has been received shall be deducted from accrued sick leave at the rate of four (4) days for every one (1) day's pay.