Benefit Calculation. The amount of severance pay due a member shall be calculated as follows: 1. Multiply the unit member's accrued but unused sick leave by one-fourth (¼). 2. Multiply the product times the per diem rate of pay appropriate for that individual's placement on the base salary schedule. 3. The amount of benefit calculated in steps 1 and 2 shall not exceed the value of eighty (80) days of accrued but unused sick leave.
Appears in 3 contracts
Sources: Negotiated Contract, Negotiated Contract, Negotiated Contract
Benefit Calculation. The amount of severance pay due to a member shall be calculated as follows:
1. Multiply the unit member's accrued but unused sick leave by one-fourth quarter (¼).
2. Multiply the product times the per diem rate of pay appropriate for that individual's placement on the base salary schedule.
3. The amount of benefit calculated in steps 1 and 2 shall not exceed the value of eighty (80) days of accrued but unused sick leave.
Appears in 2 contracts
Sources: Negotiated Contract, Negotiated Contract
Benefit Calculation. The amount of the severance pay benefit due a member an employee shall be calculated as followsby:
1. Multiply Multiplying the unit memberemployee's accrued but unused sick leave by one-fourth one quarter (¼1/4).
2. Multiply Multiplying the product times the per diem employee's hourly rate of pay appropriate for that individual's placement on at the base salary scheduletime of retirement.
3. The amount of the benefit calculated in steps 1 one and 2 two shall not exceed the value of eighty (80) days of accrued but unused sick leave.thirty
Appears in 2 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement