Maximum Severance. Effective December 1, 2008, the maximum amount of money that any employee may obtain through the Severance Plan from the combination of early notification incentive and pay for unused sick leave is $18,500.
Maximum Severance. For employees providing less that six (6) months notification, the maximum amount of money the employee may obtain through the Severance Plan from the combination of early notification incentive and pay for unused sick leave is $22,500. Effective January 1, 2015, employees providing six (6) months notification, the maximum amount of money the employee may obtain through the Severance Plan from the combination of early notification incentive and pay for unused sick leave is $26,500.
Maximum Severance. As required by Government Code §53260, and except as otherwise provided for in any other separate settlement agreement between EMPLOYEE and EMPLOYER, in the event this Agreement and any extension and/or automatic extension/renewal hereof is terminated, the maximum cash settlement that EMPLOYEE may receive shall be an amount equal to the monthly salary of EMPLOYEE multiplied by the number of months left on the unexpired term of this Agreement or any extension hereof, not to exceed a multiplier of 12; for example, if the unexpired term of the contract is 18 months, the maximum cash settlement shall be an amount equal to the monthly salary of EMPLOYEE multiplied by 12.
Maximum Severance. Effective July 1, 2016, the maximum amount of money that any employee may obtain through the Severance Plan from the combination of December 1 early notification incentive and pay for unused sick leave is $33,000. Subd. 4. Pay for Earned, Unused Vacation. Principals who meet the eligibility requirements of 2.1 of this Section, who qualify for severance pay per 3.1 or 3.2 of this Section, and who retire with earned, unused vacation shall receive pay for such vacation. Principals who retire at the end of a school year will not be prorated for five (5) days of vacation credited in January of that year. Payment for earned, unused vacation shall be made to the Severance Plan.
Maximum Severance. For employees providing six (6) months or more notification, the maximum amount of money the employee may obtain through the Severance Plan from the combination of early notification incentive and pay for unused sick leave is $30,000. This maximum does not include unused earned vacation as noted in Subd. 3. For employees providing less than six (6) months and more than or equal to three (3) months notification, the maximum amount of money the employee may obtain through the Severance Plan from the combination of early notification incentive and pay for unused sick leave is $29,000.
2.3.1. For employees providing less than three (3) months notification, the maximum amount of money the employee may obtain through the Severance Plan for unused sick leave is $26,500. Subd. 3. Pay for Earned, Unused Vacation. ASAP Members who meet the eligibility requirements of 1.1 of this Section, who qualify for severance pay per 2.1 or 2.2 of this Section, and who retire with earned, unused vacation shall receive pay for such vacation. Payment for earned, unused vacation shall be made to the Severance Plan. This is an addition to the Maximum Severance for unused sick leave and early notification incentive. The maximum vacation pay received will be up to 240 hours unused vacation.
