Liquidation of Damages. Whenever a teacher wishes to be released from his contract, such request shall be made in writing and presented to the superintendent on or before the 14th calendar day following the third Friday in May. When such written request is received after the 14th calendar day following the third Friday in May, and is to take effect prior to the end of the next school term, the Board may seek to find a suitable replacement for the following year. If, in the judgment of the Board, a suitable replacement can be found, then the Board may release the teacher upon receipt of monetary consideration paid to the Board by the resigning teacher. This consideration shall be deemed liquidated damages and shall not be construed to be punitive in nature. The amount shall represent the parties’ approximation of the cost of securing a suitable replacement and shall be as follows: 1. For resignations tendered between the 14th calendar day following the third Friday in May and June 15 – 3% of the teacher’s salary 2. For resignations tendered between June 16 and July 31 – 4% of the teacher’s salary 3. For resignations tendered after August 1 and before the start of school – 5% of the teacher’s salary 4. For resignations tendered during the school year and to take effect prior to the end of school – 6% of the teacher’s salary The Board reserves the right to refuse to accept a resignation if, in the Board’s opinion a suitable replacement cannot be found. The Board may make an exception, and waive the payment for liquidation as scheduled above, in cases of hardship circumstances on the part of the teacher.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
