Quarterly Sick Leave Conversion. For each quarter of a calendar year in which a qualifying member does not utilize sick leave, the member shall be given the option of converting eight (8) hours of sick leave, at the member’s current straight time rate of pay, into paid compensation or vacation leave. Upon such conversion, eight (8) hours of sick leave shall be deducted from the member’s balance of accrued but unused sick leave. A qualifying member is defined as a member who: (1) has at least three (3) years of continuous active service, and (2) maintains a minimum balance of at least 120 sick leave hours throughout the prior calendar quarter for which the conversion request is made.