Common use of Sick Leave Pay Out Clause in Contracts

Sick Leave Pay Out. At the time of retirement, employees with ten (10) or more years of public service within the State of Ohio will be compensated for not more than one-fourth (1/4) the value of accrued but unused sick leave. The maximum payment shall be 240 hours. The rate of pay will be based on an employee's rate of compensation at the time of retirement. Acceptance of such payment shall eliminate all accumulated sick leave credit. Payments shall be deposited according to the employee's most recent payroll direct deposit instructions.

Sick Leave Pay Out. 1. At the time of retirement, employees with ten (10) or more years of public service within with the State of Ohio will be compensated for not more than one-fourth (1/4) the value of accrued but unused sick leave. The maximum payment shall be 240 hours. The rate of pay will be based on an employee's ’s rate of compensation at the time of retirement. Acceptance of such payment shall eliminate all accumulated sick leave credit. Payments shall be deposited according to the employee's ’s most recent payroll direct deposit instructions. 2. Upon the death of an employee, the sick leave pay out in subsection B. 1. above will be paid to the employee’s beneficiary or estate.

Sick Leave Pay Out. 1. At the time of retirement, employees with ten (10) or more years of public service within with the State of Ohio will be compensated for not more than one-fourth (1/4) the value of accrued but unused sick leave. The maximum payment shall be 240 hours. The rate of pay will be based on an employee's rate of compensation at the time of retirement. Acceptance of such payment shall eliminate all accumulated sick leave credit. Payments shall be deposited according to the employee's most recent payroll direct deposit instructions. 2. Upon the death of an employee, the sick leave pay out in subsection B. 1. above will be paid to the employee's beneficiary or estate.