Common use of Bank utilization Clause in Contracts

Bank utilization. ‌ In the event of catastrophic illness or injury (as defined by the sick leave bank committee), of a participating employee necessitating the employee's absence from work over an extended period of time, a participating employee who meets the definition of having a catastrophic illness or injury may receive paid leave under the following conditions: A. Any sick leave drawn from the bank by a participating employee must be used for said employee's personal illness, accident or injury. B. Any employee wishing to draw from the Sick Leave Bank must have been absent for more than thirty (30) consecutive work days, ten of which shall have been without pay, in order to qualify. Once the employee has qualified, the employee shall be paid retroactively for the ten days without pay. C. An employee must have exhausted all sick leave to become eligible for sick leave bank benefits. D. An employee may not receive benefits for any illness or injury arising prior to January 1st following the employee's enrollment in the Sick Leave Bank.