Common use of Compensation for Accrued Sick Leave Clause in Contracts

Compensation for Accrued Sick Leave. If an employee with unused sick leave credit dies; resigns when eligible for retirement; resigns to enter a City elective office without a break in continuity of City service and serves in such office employment until retired under the City's retirement system; or is laid off because of the abolishment of his/her position or employment or because of absence of funds; he/she or his/her estate shall be entitled to receive 70% of the value of his/her accrued sick leave computed from his/her last base salary as an employee. Payment shall be made as soon as practicable following the occurrence of any of the foregoing events. This “cash out” shall be directed to the employees XXXX account.

Compensation for Accrued Sick Leave. If an employee with unused sick leave credit dies; resigns when eligible for retirement; resigns to enter a City elective office without a break in continuity of City service and serves in such office employment until retired under the City's retirement system; or is laid off because of the abolishment of his/her position or employment or because of absence of funds; he/she or his/her estate shall be entitled to receive 70% of the value of his/her accrued sick leave computed from his/her last base salary as an employee. Payment shall be made as soon as practicable following the occurrence of any of the foregoing events. This “cash out” shall be directed to the employees XXXX VEBA account.