Common use of Sick Leave Buy-Back Option Clause in Contracts

Sick Leave Buy-Back Option. On retirement or termination in good standing, an employee who has on accrual more than two hundred and forty (240) hours of sick leave may be compensated for that portion over two hundred and forty (240) hours at one-half (1/2) the normal rate of pay for the employee up to a maximum of $3,000.00.

Sick Leave Buy-Back Option. On retirement or termination Upon separation in good standing, an employee who has on accrual more than two hundred and forty (240) hours of sick leave may be compensated for that portion over two hundred and forty (240) hours at one-half (1/2) the normal rate of pay for the employee up to a maximum of three thousand dollars ($3,000.003,000). Employees retiring should refer to applicable memorandum of understanding for sick leave buy back options.