At Least Nine Hundred Sixty. (960) Hours. With regard to an Eligible Employee who, as of December 31 of the Accrual Year, has accumulated at least nine hundred sixty (960) hours of sick leave, payment shall be made for the lesser of: the number of hours indicated by the employee on his/her election form; or the number of unused sick leave hours earned during the Accrual Year in excess of nine hundred sixty (960) hours. The amount of the payment shall be based on one hundred percent (100%) of the employee’s regular hourly rate of pay in effect on December 31 of the Accrual Year.
