Common use of LOAN AND RE-PAYMENT PROCEDURES Clause in Contracts

LOAN AND RE-PAYMENT PROCEDURES. 1. Days allotted from the Sick Leave Bank will be paid at 100% of the member’s daily rate of pay. 2. Allotments from the Sick Leave Bank Board shall commence on the first day of absence for which a member has no accumulated sick days or advanced days, and shall be renewed, upon request from the member and approval of the Sick Leave Bank Board. 3. Allotments from the Sick Leave Bank will be made only for absences under a member’s normal contract. Allotments will not be made for absences in programs such as summer school, extended services, or any other part-time or second position held by a member with a full-time contract. 4. Days may not be received from the Bank for absences due to disabilities, which qualify the member for Xxxxxxx’x Compensation’s personal benefits, unless the member has exhausted all such benefits and his/her own accumulated sick days. 5. A member may receive a maximum of fifteen (15) days per contract year and in no event may he/she receive more than thirty (30) days during his/her employment with the Mad River Local School District. 6. The receipt of days borrowed from the Sick Leave Bank will have a period of thirty (36) months from the month of the initial loan to repay the days borrowed. One third of the borrowed days must be repaid each year on the last paycheck of the month of the yearly anniversary of the loan. In the event the recipient is unable to accrue the total number of required days owed to the Sick Leave Bank (1/3 total borrowed) at the end of each twelve (12) month period, the District will deduct from the last paycheck of the anniversary month the recipient’s daily rate times the number of unaccrued days owed for that period. Should the recipient leave the district prior to accumulating the number of days borrowed the recipient is obligated to pay the District for the unpaid borrowed days on the current per diem rate.

LOAN AND RE-PAYMENT PROCEDURES. 1. Days allotted from the Sick Leave Bank will be paid at 100% of the member’s daily rate of pay. 2. Allotments from the Sick Leave Bank Board shall commence on the first day of absence for which a member has no accumulated sick days or advanced days, and shall be renewed, upon request from the member and approval of the Sick Leave Bank Board. 3. Allotments from the Sick Leave Bank will be made only for absences under a member’s normal contract. Allotments will not be made for absences in programs such as summer school, extended services, or any other part-time or second position held by a member with a full-time contract. 4. Days may not be received from the Bank for absences due to disabilities, which qualify the member for Xxxxxxx’x Compensation’s personal benefits, unless the member has exhausted all such benefits and his/her own accumulated sick days. 5. A member may receive a maximum of fifteen (15) days per contract year and in no event event, may he/she receive more than thirty (30) days during his/her employment with the Mad River Local School District. 6. The receipt of days borrowed from the Sick Leave Bank will have a period of thirty thirty- six (36) months from the month of the initial loan to repay the days borrowed. One third (1/3) of the borrowed days must be repaid each year on the last paycheck of the month of the yearly anniversary of the loan. In the event the recipient is unable to accrue the total number of required days owed to the Sick Leave Bank (1/3 total borrowed) at the end of each twelve (12) month period, the District will deduct from the last paycheck of the anniversary month the recipient’s daily rate times the number of unaccrued un-accrued days owed for that period. Should the recipient leave the district prior to accumulating the number of days borrowed borrowed, the recipient is obligated to pay the District for the unpaid borrowed days on the current per diem rate.