Option 2 – Existing Accruals. Existing accruals may be cashed out in whole hour increments with a minimum of fourteen (14) hours and a maximum of one hundred and twelve (112) and will be subject to a ten percent (10%) penalty.
Option 2 – Existing Accruals Sample Clauses
Related to Option 2 – Existing Accruals
Vacation Accruals Length of Service Accrual Rate Per Month 0 - 10 yrs. 1 1/4 days 11 - 20 yrs. 1 2/3 days Upon completion of 20 years 2 1/12 days A staff member will be paid for vacation at the staff member’s base rate of pay.
Amount of Funds Available to Grantee The maximum amount of funding being made available to Grantee under this Agreement is: $20,000. This amount may be amended, subject to funds availability, by mutual consent of the parties. Grant funds under this Agreement may be considered taxable income.
Deferred Salary Leave Plan 1. The Board shall administer a Deferred Salary Leave Plan as determined by a separate agreement.
