Bonus Severance Payment. 1. After a teacher has accumulated his/her maximum of two hundred twenty (220) days of sick leave, any additional sick leave which is accrued will be recorded for the purpose of increasing the severance pay calculation. Upon retirement (as defined in Section A. above) from the District, a teacher shall receive one-third (1/3) of his/her accumulated sick leave days over two hundred twenty (220) as part of his/her severance pay. The maximum number of additional days which may be earned under this Section shall be thirty (30) days, and the amount will be added to the amount entitled to in Section A. above. 2. Each teacher eligible to receive bonus severance days shall receive a statement in September containing the number of such days earned during the preceding school year and the total bonus severance days earned to date. 3. Once a bonus severance day has been placed in the bonus severance day “Bank” it will not be lost regardless of what happens to the teacher’s accumulated sick leave in the future.
Appears in 2 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement
Bonus Severance Payment. 1. After a teacher has accumulated his/her maximum of two hundred twenty (220) days of sick leave, any additional sick leave which is accrued will be recorded for the purpose of increasing the severance pay calculation. Upon retirement (as defined in Section A. above) from the District, a teacher shall receive one-third (1/3) of his/her accumulated sick leave days over two hundred twenty (220) as part of his/her severance pay. The maximum number of additional days which may be earned under this Section shall be thirty (30) days, and the amount will be added to the amount entitled to in Section A. above.
2. Each teacher eligible to receive bonus severance days shall receive a statement in September containing the number of such days earned during the preceding school year and the total bonus severance days earned to date.
3. Once a bonus severance day has been placed in the bonus severance day “Bank” it will not be lost regardless of what happens to the teacher’s accumulated sick leave in the futurethefuture.
Appears in 2 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement
Bonus Severance Payment. 1. After a teacher has accumulated his/her maximum of two one hundred twenty eighty-five (220185) days of sick leave, any additional sick leave which is accrued will be recorded for the purpose of increasing the severance pay calculation. Upon retirement (as defined in Section A. above) from the District, a teacher shall receive one-third (1/3) of his/her accumulated sick leave days over two one hundred twenty eighty- five (220185) as part of his/her severance pay. The maximum number of additional days which may be earned under this Section shall be thirty (30) days, and the amount will be added to the amount entitled to in Section A. above.
2. Each teacher eligible to receive bonus severance days shall receive a statement in September containing the number of such days earned during the preceding school year and the total bonus severance days earned to date.
3. Once a bonus severance day has been placed in the bonus severance day “Bank” it will not be lost regardless of what happens to the teacher’s accumulated sick leave in the future.
Appears in 2 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement