SEVERANCE AND TAX SHELTERS Sample Clauses

SEVERANCE AND TAX SHELTERS. Section 1. Severance: Administrators with a minimum of 5 years’ experience as an administrator in the District, who are at least fifty-five (55) years of age, who have accumulated unused sick leave will be granted up to 120 days of said leave to be transferred to a Health Reimbursement Arrangement (HRA). The value of these days will be calculated off the current daily contract rate. Any administrator hired in 2022 or prior would qualify under section 1 if they are at least 55 years of age.
Sample 1
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SEVERANCE AND TAX SHELTERS. Section 1. Severance: Administrators who are at least fifty-five (55) years of age and upon retirement from the district shall be eligible for health and/or other benefits paid at District expense in accordance to the provisions of this Article upon submission of a written resignation accepted by the School Board.
Sample 1

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  • Severance If any provision or part-provision of this Agreement is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part- provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this clause shall not affect the validity and enforceability of the rest of this Agreement. If any provision or part-provision of this Agreement is invalid, illegal or unenforceable, the parties shall negotiate in good faith to amend such provision so that, as amended, it is legal, valid and enforceable, and, to the greatest extent possible, achieves the intended commercial result of the original provision.

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