Common use of Financial Clause in Contracts

Financial. (1) An employee taking a sabbatical leave shall post a fidelity bond equal to the sum of the sabbatical stipend. At the time the employee returns to the District and the employer has signed a contract for the next school year he/she shall post a bond for one-half (½) of the sabbatical stipend. No bond will be required at the beginning of his/her second year of re-employment with the District. (2) In the event an employee on sabbatical leave fails to return to service in the District at the end of the leave the stipend received shall be repaid to the District immediately either in full through the bond, personal check or cash. (3) The potential stipend repayment obligation shall be canceled upon the immediate return of the employee to the District in the following manner: (a) One-half (½) of the potential stipend repayment obligation shall be canceled after the first year's service to the District. (b) The remaining one-half (½) of the potential stipend repayment obligation shall be canceled after the second year of service. (4) Should an employee be unable to return to the District, due to a physical or mental disability any repayment obligation will be suspended until the employee is again fit and able to return to his/her assignment in the District.

Financial. (1) An employee taking a sabbatical leave shall post a fidelity bond equal to the sum of the sabbatical stipend. At the time the employee returns to the District and the employer has signed a contract for the next school year he/she they shall post a bond for one-half (½) of the sabbatical stipend. No bond will be required at the beginning of his/her their second year of re-employment with the District. (2) In the event an employee on sabbatical leave fails to return to service in the District at the end of the leave the stipend received shall be repaid to the District immediately either in full through the bond, personal check or cash. (3) The potential stipend repayment obligation shall be canceled upon the immediate return of the employee to the District in the following manner: (a) One-half (½) of the potential stipend repayment obligation shall be canceled after the first year's service to the District. (b) The remaining one-half (½) of the potential stipend repayment obligation shall be canceled after the second year of service. (4) Should an employee be unable to return to the District, due to a physical or mental disability any repayment obligation will be suspended until the employee is again fit and able to return to his/her their assignment in the District.

Financial. (1) An employee taking a sabbatical leave shall post a fidelity bond equal to the sum of the sabbatical stipend. At the time the employee returns to the District and the andthe employer has signed a contract for the next school year he/she shall post a bond for one-half (½) of the sabbatical stipend. No bond will be required at the beginning of his/her second year of re-employment with the District. (2) In the event an employee on sabbatical leave fails to return to service in the District at the end of the leave the stipend received shall be repaid to the District immediately either in full through the bond, personal check or cash. (3) The potential stipend repayment obligation shall be canceled upon the immediate return of the employee to the District in the following manner: (a) One-half (½) of the potential stipend repayment obligation shall be canceled after the first year's service to the District. (b) The remaining one-half (½) of the potential stipend repayment obligation shall be canceled after the second year of service. (4) Should an employee be unable to return to the District, due to a physical or mental disability any repayment obligation will be suspended until the employee is again fit and able to return to his/her assignment in the District.. (5)

Financial. (1) An employee taking a sabbatical leave shall post a fidelity bond equal to the sum of the sabbatical stipend. At the time the employee returns to the District and the andthe employer has signed a contract for the next school year he/she they shall post a bond for one-half (½) of the sabbatical stipend. No bond will be required at the beginning of his/her their second year of re-employment with the District. (2) In the event an employee on sabbatical leave fails to return to service in the District at the end of the leave the stipend received shall be repaid to the District immediately either in full through the bond, personal check or cash. (3) The potential stipend repayment obligation shall be canceled upon the immediate return of the employee to the District in the following manner: (a) One-half (½) of the potential stipend repayment obligation shall be canceled after the first year's service to the District. (b) The remaining one-half (½) of the potential stipend repayment obligation shall be canceled after the second year of service. (4) Should an employee be unable to return to the District, due to a physical or mental disability any repayment obligation will be suspended until the employee is again fit and able to return to his/her their assignment in the District.

Financial. (1) An employee taking a sabbatical leave shall post a fidelity bond equal to the sum of the sabbatical stipend. At the time the employee returns to the District and the employer has signed a contract for the next school year he/she they shall post a bond for one-half (½) of the sabbatical stipend. No bond will be required at the beginning of his/her second year of re-employment with the District. (2) In the event an employee on sabbatical leave fails to return to service in the District at the end of the leave the stipend received shall be repaid to the District immediately either in full through the bond, personal check or cash. (3) The potential stipend repayment obligation shall be canceled upon the immediate return of the employee to the District in the following manner: (a) One-half (½) of the potential stipend repayment obligation shall be canceled after the first year's service to the District. (b) The remaining one-half (½) of the potential stipend repayment obligation shall be canceled after the second year of service. (4) Should an employee be unable to return to the District, due to a physical or mental disability any repayment obligation will be suspended until the employee is again fit and able to return to his/her assignment in the District.

Financial. (1) An employee taking a sabbatical leave shall post a fidelity bond equal to the sum of the sabbatical stipend. At the time the employee returns to the District and the andthe employer has signed a contract for the next school year he/she shall post a bond for one-half (½) of the sabbatical stipend. No bond will be required at the beginning of his/her second year of re-employment with the District. (2) In the event an employee on sabbatical leave fails to return to service in the District at the end of the leave the stipend received shall be repaid to the District immediately either in full through the bond, personal check or cash. (3) The potential stipend repayment obligation shall be canceled upon the immediate return of the employee to the District in the following manner: (a) One-half (½) of the potential stipend repayment obligation shall be canceled after the first year's service to the District. (b) The remaining one-half (½) of the potential stipend repayment obligation shall be canceled after the second year of service. (4) Should an employee be unable to return to the District, due to a physical or mental disability any repayment obligation will be suspended until the employee is again fit and able to return to his/her assignment in the District.

Financial. (1) An employee taking a sabbatical leave shall post a fidelity bond equal to the sum of the sabbatical stipend. At the time the employee returns to the District and the andthe employer has signed a contract for the next school year he/she they shall post a bond for one-half (½) of the sabbatical stipend. No bond will be required at the beginning of his/her their second year of re-employment with the District. (2) In the event an employee on sabbatical leave fails to return to service in the District at the end of the leave the stipend received shall be repaid to the District immediately either in full through the bond, personal check or cash. (3) The potential stipend repayment obligation shall be canceled upon the immediate return of the employee to the District in the following manner: (a) One-half (½) of the potential stipend repayment obligation shall be canceled after the first year's service to the District. (b) The remaining one-half (½) of the potential stipend repayment obligation shall be canceled after the second year of service. (4) Should an employee be unable to return to the District, due to a physical or mental disability any repayment obligation will be suspended until the employee is again fit and able to return to his/her their assignment in the District.