Common use of Conversion Upon Separation Clause in Contracts

Conversion Upon Separation. Upon death, retirement, resignation or termination of employment not as a direct consequence of disciplinary action, a member shall be entitled to a conversion of any unused sick leave as described in Section 22.1 based on the following: A. A member shall be paid at the time of separation one (1) hour of sick leave for every two (2) hours of accumulated but unused sick leave, up to a maximum of 1000 hours of accumulated but unused sick leave and 500 hours of payments. Such payment shall be made at the rate of pay in effect at the time of separation. Members shall request such conversion in writing prior to the effective date of their separation or as soon as possible thereafter. B. In addition to the above, a member may, at the end of the calendar year, elect to receive a cash payment for unused sick leave as described in Section 22.1 (but not including Transferred Sick Leave Bank hours), not to exceed a total of sixty (60) hours, at the rate of pay in effect as of December 31st of that calendar year. Payment made pursuant to this paragraph shall be made in January of the next calendar year. C. Each member retiring, resigning, or terminating employment under the provisions of this article shall be furnished a statement by the Director of Finance stating the amount of non-reimbursed sick leave hours available to the member on the date of retirement, resignation or termination. D. In no event shall a member receive any pay out for Transferred Sick Leave Bank hours upon separation from employment.

Conversion Upon Separation. Upon death, retirement, resignation or termination of employment not as a direct consequence of disciplinary action, a member shall be entitled to a conversion of any unused sick leave as described in Section 22.1 based on the following: A. A member shall be paid at the time of separation one (1) hour of sick leave for every two (2) hours of accumulated but unused sick leave, up to a maximum of 1000 hours of accumulated but unused sick leave and 500 hours of payments. Such payment shall be made at the rate of pay in effect at the time of separation. Members shall request such conversion in writing prior to the effective date of their separation or as soon as possible thereafter. B. In addition to the above, a member may, at the end of the calendar year, elect to receive a cash payment for unused sick leave as described in Section 22.1 (but not including Transferred Sick Leave Bank hours), not to exceed a total of sixty (60) hours, at the rate of pay in effect as of December 31st of that calendar year. Payment made pursuant to this paragraph shall be made in January of the next calendar year. C. ▇. Each member retiring, resigning, or terminating employment under the provisions of this article shall be furnished a statement by the Director of Finance stating the amount of non-reimbursed sick leave hours available to the member on the date of retirement, resignation or termination. D. In no event shall a member receive any pay out for Transferred Sick Leave Bank hours upon separation from employment.