Common use of Sick Leave Buyout Clause in Contracts

Sick Leave Buyout. At the discretion of the EMPLOYEE and the annual approval of the BOARD, accumulated personal sick leave may be purchased by the BOARD under the following conditions: a. A minimum balance of twenty (20) days must be maintained at all times b. The maximum number of days eligible for purchase by the BOARD shall be in accordance with F.S. 1012.61(2) (a) (3). c. The purchase price of the sick leave days purchased shall be set at the EMPLOYEE's current daily rate of pay multiplied by 50% for an EMPLOYEE with zero (0) to twelve (12) years of experience in Xxxxxxx County and by 80% for EMPLOYEES with thirteen (13) or more years of experience in the Xxxxxxx County Schools. Experience is defined in Article 12.016. d. Days for which an EMPLOYEE receives payment will be deducted from the accumulated leave balance at 100% value even if restricted by item (c) above. e. All payments made under this section will be considered as salary and, therefore, be subject to federal income tax and social security tax. f. Application letters must be submitted to the Human Resources/Compensation Office prior to June 30th of each year to be paid the following school year and must include the total number of days requested. In calculating buyout pay, the collective bargaining AGREEMENT in effect at the time the EMPLOYEE elects the buyout provision will be used to determine the appropriate pay. The EMPLOYEE may choose between payment either in the first contractual pay period in the fall or the first pay period in January in the following school year.

Sick Leave Buyout. At the discretion of the EMPLOYEE and the annual approval of the BOARD, accumulated personal sick leave may be purchased by the BOARD under the following conditions: a. A minimum balance of twenty (20) days must be maintained at all times b. The maximum number of days eligible for purchase by the BOARD shall be in accordance with F.S. 1012.61(2) (a) (3). c. The purchase price of the sick leave days purchased shall be set at the EMPLOYEE's current daily rate of pay multiplied by 50% for an EMPLOYEE with zero (0) to twelve (12) years of experience in Xxxxxxx Collier County and by 80% for EMPLOYEES with thirteen (13) or more years of experience in the Xxxxxxx Collier County Schools. Experience is defined in Article 12.016. d. Days for which an EMPLOYEE receives payment will be deducted from the accumulated leave balance at 100% value even if restricted by item (c) above. e. All payments made under this section will be considered as salary and, therefore, be subject to federal income tax and social security tax. f. Application letters must be submitted to the Human Resources/Compensation Office prior to June 30th of each year to be paid the following school year and must include the total number of days requested. In calculating buyout pay, the collective bargaining AGREEMENT in effect at the time the EMPLOYEE elects the buyout provision will be used to determine the appropriate pay. The EMPLOYEE may choose between payment either in the first contractual pay period in the fall or the first pay period in January in the following school year.

Sick Leave Buyout. At the discretion of the EMPLOYEE and the annual approval of the BOARD, accumulated personal sick leave may be purchased by the BOARD under the following conditions: a. A minimum balance of twenty (20) days must be maintained at all times b. The maximum number of days eligible for purchase by the BOARD shall be in accordance with F.S. 1012.61(2) (a) (31012.61(2)(a)(3). c. The purchase price of the sick leave days purchased shall be set at the EMPLOYEE's current daily rate of pay multiplied by 50% for an EMPLOYEE with zero (0) to twelve (12) years of experience in Xxxxxxx County and by 80% for EMPLOYEES with thirteen (13) or more years of experience in the Xxxxxxx County Schools. Experience is defined in Article 12.016. d. Days for which an EMPLOYEE receives payment will be deducted from the accumulated leave balance at 100% value even if restricted by item (c) above. e. All payments made under this section will be considered as salary and, therefore, be subject to federal income tax and social security tax. f. Application letters must be submitted to the Human Resources/Compensation Office prior to June 30th of each year to be paid the following school year and must include the total number of days requested. In calculating buyout pay, the collective bargaining AGREEMENT in effect at the time the EMPLOYEE elects the buyout provision will be used to determine the appropriate pay. The EMPLOYEE may choose between payment either in the first contractual pay period in the fall or the first pay period in January in the following school year.