Common use of Part Two Clause in Contracts

Part Two. In addition to the Part One payment a teacher with more than seven hundred twenty-five (725) hours of accrued accumulative leave, upon retirement, will be eligible to receive a Retirement Incentive payment in an amount obtained by multiplying the balance of the teacher's unused accumulative leave days in excess of seven hundred twenty five (725) at the time of retirement times the teacher's base daily rate of pay ÷ 7.25 hours times 30%.

Part Two. In addition to the Part One payment a teacher with more than seven hundred twenty-five fifty (725750) hours of accrued accumulative leave, upon retirement, will be eligible to receive a Retirement Incentive payment in an amount obtained by multiplying the balance of the teacher's unused accumulative leave days in excess of seven hundred twenty five fifty (725750) at the time of retirement times the teacher's base daily rate of pay ÷ 7.25 7.5 hours times 30%.

Part Two. In addition to the Part One payment a teacher with more than seven hundred twenty-five (725700) hours of accrued accumulative leave, upon retirement, will be eligible to receive a Retirement Incentive payment in an amount obtained by multiplying the balance of the teacher's unused accumulative leave days in excess of seven hundred twenty five (725700) at the time of retirement times the teacher's base daily rate of pay ÷ 7.25 7 hours times 30%.