Termination and Severance Pay. Employees who terminate their employment with the City for any reason shall have their termination pay computed in the following manner. (A) They shall be compensated for any earned vacation and bonus vacation including any vacation earned the year in which the employee terminated. The computation of the vacation earned in the year in which the employee terminated shall be in accordance with the following table: Entitled to 2 weeks 0.916 x the number of months worked Entitled to 3 weeks 1.333 x the number of months worked Entitled to 4 weeks 1.750 x the number of months worked Entitled to 5 weeks 2.166 x the number of months worked Entitled to 6 weeks 2.583 x the number of months worked (B) In addition to the above, the employee shall be paid for any holidays worked for which he has not been compensated either in the form of pay or time off. If the employee was entitled to two (2) discretionary holidays and has not taken them and he terminates on or before June 30, he shall receive pay for one (1) discretionary holiday. If the employee terminates after June 30, he shall receive pay for two (2) discretionary holidays. (C) Employees who retire or die while in the employment of the City shall also receive severance pay for unused sick time in accordance with the provisions of Section 2113.51, "Accumulation of Sick Days". (D) Members of the bargaining unit who leave the employment of the City of Toledo prior to their forty-eighth (48th) birthday with twenty-five (25) years of service or more shall be entitled to sick pay benefits as described in Paragraph C as comprising that part of their severance pay.
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Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
