PAYMENT FOR ACCRUED SICK LEAVE ON TERMINATION OR RETIREMENT. An employee having accrued sick leave to their credit shall:
a) On termination, receive a salary grant equal to fifty percent (50%) of such credit up to a maximum of four hundred and twenty (420) hours at the rate of pay effective at the termination date provided the employee has completed three (3) years’ service; or
b) On retirement, receive a salary grant equal to one hundred percent (100%) of such credit up to a maximum of eight hundred and forty (840) hours at the current rate of pay effective at the retirement day. This benefit is only available to employees aged fifty-five (55) or older. In the event of death, the value of the accrued sick leave shall be paid to the employee's estate.
PAYMENT FOR ACCRUED SICK LEAVE ON TERMINATION OR RETIREMENT. An employee having accrued sick leave to their credit shall:
a) On termination, receive a salary grant equal to 50% of such credit at the rate of pay effective at the termination date provided the employee has completed three (3) years service; or
b) On retirement, receive a salary grant equal to 100% of such credit at the rate of pay effective at the retirement day. This benefit is only available to employees aged fifty-five
