Benefit Calculation. The amount of the benefit due a Member shall be calculated by: a. Multiplying the Member's accrued but unused sick leave by twenty-five percent (25%). b. Multiplying the product times the base per diem rate of pay appropriate for that Member's placement on the salary schedule. c. The amount of the benefit calculated in steps (2.a.) and (2.b.) directly above shall not exceed seventy-five (75) days of accrued but unused sick leave. d. During the Member's final two (2) years prior to severance, he/she shall earn an additional one-quarter (1/4) day of additional severance pay for each unused sick day in the final two (2) years. The additional severance shall not exceed the value of seven and one-half (7½) days.
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Sources: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement