Reimbursement of Unused or Unconverted Sick Leave Upon Separation. After 10 years of continuous (uninterrupted) CITY service and upon voluntary separation under satisfactory conditions (as determined by the City Manager), an EMPLOYEE shall be eligible to receive a cash payment equivalent to 25% of all unused sick leave, less the total number of hours converted to either cash, vacation, or a combination thereof as set forth in Article 7, Section (C) (1) (e). Such reimbursement is to be computed upon the EMPLOYEE'S final compensation rate. [e.g. 600 (balance of sick leave hours on the books after conversion and use) x .25 = 150. 150 - 400 (hours converted previously) = -0-]
