Common use of Sick Leave Buy Out Clause in Contracts

Sick Leave Buy Out. A. Employees may at their option, elect to sell back three (3) days at one hundred percent (100%) of their current rate of pay to be payable in the first pay period of each December. Employees may at their option, elect to sell back an additional three (3) days at 100% of their current rate of pay if they maintain at least 240 hours in their sick bank after the buyout of the initial three (3) days.

Sick Leave Buy Out. A. Employees may at their option, elect to sell back three (3) days at one hundred percent (100%) % of their current rate of pay as long as they have 60 hours remaining in their bank, it is to be payable paid in the first pay period of each December. Employees Employees, may at their option, elect to sell back an additional three (3) 3 days at 100% of their current rate of pay if they maintain at least 240 two hundred forty (240) hours in their sick bank after the buyout of buying out the initial three (3) 3 days.