Deductible Leave Day Incentive Sample Clauses

Deductible Leave Day Incentive. Upon completion of each school year, the total number of deductible leave days used will be calculated. That number will then be subtracted from 2000. If the difference is 200* days or greater, the number will be multiplied by thirty-five dollars ($35.00) to create a pool of money distributed according to the formula below. No reimbursement will occur should the number be less than 200. 1.) The total number of deductible leave days remaining for each teacher from that school year’s allotment will then be calculated (Maximum = 11) 2.) The number of deductible leave days for each teacher calculated in (1) above will be added together. 3.) The amount of money in the reimbursement pool described in (d) above will then be divided by the number of deductible leave days teachers have remaining (2). This will create a reimbursement pool multiplier. 4.) The reimbursement pool multiplier computed in (3) will then be multiplied by each individual teacher’s deductible leave days remaining from the school year’s allocation (as calculated in (1)). 5.) The amount in (4) will be reimbursed to individual teachers by July 31st. * The goal number of 1,800 paid deductible leave days is based upon 190 teachers. If the number of teachers (190) increases or decreases, then the number of deductible leave days and the base will be prorated accordingly.