Common use of Sick Bank Elimination Clause in Contracts

Sick Bank Elimination. Eligible employees who were employed and had a sick leave balance on December 31, 1986, after exercising a one-time only option of carrying up to four (4) days forward into 1987, shall be credited January 1, 1987, with an amount equal to the remaining sick leave balance as of December 31, 1986, times the employee's December 31, 1986 pay rate. This account shall be increased each January thereafter by an interest amount equal to the Ottawa County Treasurer's Office's prior year's average "Return on Investment".

Sick Bank Elimination. Eligible employees who were employed and had a sick leave balance on December 31, 1986, after exercising a one-time only option of carrying up to four (4) days forward into 1987, shall be credited January 1, 1987, with an amount account equal to the remaining sick leave balance as of December 31, 1986, times the employee's December 31, 1986 pay rate. This account shall be increased each January thereafter by an interest amount equal to the Ottawa County Treasurer's Office's prior year's average "Return on Investment".

Sick Bank Elimination. Eligible employees who were employed and had a sick leave balance on December 31, 19861989, after exercising a one-time only option of carrying up to four (4) days forward into 19871990, shall be credited January 1, 1987, 1990 with an amount account equal to the remaining sick leave balance as of December 31, 1986, 1989 times the employee's December 31, 1986 1989 pay rate. This account shall be increased each January thereafter by an interest amount equal to the Ottawa County Treasurer's Office's prior year's average "Return on Investment".