Sick Leave Cash Out. 1. Employees who receive a disability retirement due to permanent incapacity to work shall be entitled to one hundred percent (100%) cash payment of any unused sick leave balances, computed at their then current base hourly rate, if they elect an early retirement in lieu of exhausting such accrued sick leave balances. 2. Upon death of an active employee with ten (10) years of continuous service from the most recent date of hire in a regular position, the estate of the deceased employee will be paid for unused sick leave balances in accordance with the conversion formula in the Article on Retirement Medical Trust.
Appears in 5 contracts
Samples: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding
