Year-End Benefits definition
Year-End Benefits. Any portion of an employee’s Maximum Benefit (up to 8 days max) which is not exhausted pursuant to (b) is payable in a lump-sum, less legal deductions, to the employee following the close of a Plan Year provided:
1. The eligible employee is an active employee of the Company on the last day of the Plan Year or is on an approved leave of absence on the last day of the Plan Year, or
2. The eligible employee is on layoff status with reinstatement rights on the last day of the Plan Year. In calculating the amount to be paid, if any, to an employee following the close of the Plan Year, the Company will use the straight time hourly wage in effect for the employee on the last day of the Plan Year plus any applicable shift premium. Additionally, employees may request that up to six (6) of their unused or unpaid sick days be rolled over into the subsequent year. In no event will an employee be allowed more than 14 days on January 1st of each year (8 days annual allotment, plus 6 rollover days).