Common use of Payout of Sick Leave Credits Clause in Contracts

Payout of Sick Leave Credits. Upon retirement after ten (10) years or more of continuous employment, or upon termination of employment for health reasons after one (1) year of continuous employment, an employee shall receive a payout in cash for the total of their accumulated sick leave credits to a maximum of twenty-five (25) days at the rate of twenty-five percent (25%) of theirtheir daily rate of pay.

Payout of Sick Leave Credits. Upon retirement after ten (10) years or more of continuous employment, or upon termination of employment for health reasons after one (1) year of continuous employment, an employee shall receive a payout in cash for the total of their his/her accumulated sick leave credits to a maximum of twenty-five (25) days at the rate of twenty-five percent (25%) of theirtheir his/her daily rate of pay.

Payout of Sick Leave Credits. Upon retirement after ten (10) years or more of continuous employment, or upon termination of employment for health reasons after one (1) year of continuous employment, an employee shall receive a payout in cash for the total of their accumulated sick leave credits to a maximum of twenty-five (25) days at the rate of twenty-five percent (25%) of theirtheir daily rate of pay.