Common use of Xxxx Leave Severance Clause in Contracts

Xxxx Leave Severance. A teacher rated “Effective” or “Highly Effective” released under a reduction in force shall have the option of: Being paid 25% of their accumulated sick leave days at his/her/ per diem rate to a maximum of $2,500 and retain the unreimbursed accumulated sick leave days, or: Have 100% of his/her accumulated sick leave days remain. This option must be exercised by the first day of the next school year. Notwithstanding the foregoing, the Option 1 payment is not available to a teacher who has satisfied the 401(a) Plan vesting requirements in Appendix D, Subsection A, Paragraph 3 (d) at the time of the applicable reduction in force.

Xxxx Leave Severance. A teacher rated “Effective” or “Highly Effective” released under a reduction in force shall have the option of: • Being paid 25% of their accumulated sick leave days at his/her/ per diem rate to a maximum of $2,500 and retain the unreimbursed accumulated sick leave days, or: • Have 100% of his/her accumulated sick leave days remain. This option must be exercised by the first day of the next school year. Notwithstanding the foregoing, the Option 1 payment is not available to a teacher who has satisfied the 401(a) Plan vesting requirements in Appendix D, Subsection A, Paragraph 3 (d) at the time of the applicable reduction in force.