Common use of Payout Upon Separation Clause in Contracts

Payout Upon Separation. Upon voluntary termination, retirement or death of an employee an amount equal to 50% of accumulated sick leave will be paid to the employee or the estate of said employee. At the discretion of the employee or the estate of the employee, the accumulated sick leave may be paid in a single lump sum, or may be deferred as deferred earnings at the rate of earnings in effect at the time of death, retirement or voluntary termination. The District shall not pay the employee for any unused accrued sick leave upon the termination of an employee for cause.

Payout Upon Separation. Upon voluntary termination, retirement or death of an employee an amount equal to 50% of accumulated sick leave will be paid to the employee or the estate of said employee. At the discretion of the employee or the estate of the employee, the accumulated sick leave may be paid in a single lump sum, or may be deferred as deferred earnings at the rate of earnings in effect at the time of death, retirement or voluntary termination. The District shall not pay the employee for any unused accrued sick leave upon the termination of an employee for cause.