Common use of Terminal Leave Payment Clause in Contracts

Terminal Leave Payment. 1. If a Custodial/Maintenance or Secretarial Classification employee is retiring and he/she has at least ten (10) years experience in the District, he/she is entitled to terminal leave pay using the formula found in either a. or b. below but not both. If a district is annexed to the Hastings Area District, any experience in that district shall be considered as ▇▇▇▇▇▇▇ Area District experience. a. A payment equal to ten percent (10%) of his/her current salary; or b. A payment equal to twenty-five percent (25%) of the employee’s regular daily wage for each accumulated sick leave day as of the date of retirement. In order to qualify for any payment under this alternative, the employee must have an accumulation of at least one hundred (100) sick leave days. In no event will payment be based on more than one hundred fifty (150) sick leave days. 2. If a Food Service employee is terminating his/her employment and he/she has at least ten (10) years experience in the District, he/she is entitled to a terminal leave payment equal to ten percent (10%) of his/her gross earnings for the last year of his/her employment. This payment will not be paid to an employee who is discharged by the Employer unless said discharge is reversed by subsequent action.