REDUCTION IN FORCE SEVERANCE PAY Sample Clauses

REDUCTION IN FORCE SEVERANCE PAY. 1. If it becomes necessary for the City to abolish a position or reduce the number of employees and the City is unable to place the employee in another position/job, severance pay will be granted as follows: Years of Service Severance Pay 2. One hundred percent (100%) of accrued personal leave and vacation will be paid due to reduction in force. An employee who is laid off shall be entitled to banked sick leave payment equal to twenty-five percent (25%) of banked sick leave accrual at time of severance of employment.