Common use of Payment for Accumulated Sick Leave Clause in Contracts

Payment for Accumulated Sick Leave. A. At and after the normal retirement date or at the time of disability retirement, an employee, or his/her beneficiary if service is terminated by death, will receive terminal pay for accumulated sick leave pursuant to the following during: - The first three (3) years of service, the daily rate of pay multiplied by thirty- five (35) percent times the number of days of accumulated sick leave. - The next three (3) years of service, the daily rate of pay multiplied by forty