Common use of Payment for Unused Paid Absence Clause in Contracts

Payment for Unused Paid Absence. Leave An eligible employee shall be eligible to receive a severance payment in an amount obtained by multiplying fifty percent (50%) of the employee’s unused paid absence leave at the time of retirement, not to exceed one hundred

Payment for Unused Paid Absence. Leave An eligible employee shall be eligible to receive a severance payment in an amount obtained by multiplying fifty percent (50%) of the employee’s unused paid absence leave at the time of retirement, not to exceed one hundredhundred (100) days, times the employee’s daily rate of pay, as determined by subdivision 2.