Common use of Xxxxxxxxx Plan Clause in Contracts

Xxxxxxxxx Plan. When the Superintendent has completed six (6) years of full time continuous service under this employment agreement, or combined with other administrative positions within the district as identified in the Principals Association Master Agreement and/or Non-Union Administrators-Director or Non-Union Administrator -Cabinet employment agreements, the Superintendent shall be eligible for payment upon separation of employment based on the following. a. Payment shall be equivalent to his basic daily rate of pay times a number of days determined by multiplying eight (8) days times the number of years' employment with the Northfield School District at the time of separation of employment. b. The maximum number of paid days shall be 130 days, and shall not exceed the number of sick leave days accumulated by the Superintendent at the time of separation of employment. c. If the Superintendent dies after separation from the School District, but before disbursement of the severance pay has been made, the payment will be made to the Superintendent's named beneficiary. x. Xxxxxxxxx pay shall not be granted in the event of discharge by the School District pursuant to Section III, paragraph D herein.