Accumulated Leave Payment Sample Clauses
The Accumulated Leave Payment clause defines the employer's obligation to compensate an employee for any unused leave days upon the termination of employment. Typically, this clause specifies that accrued but untaken annual leave will be calculated and paid out based on the employee's final salary rate. Its core practical function is to ensure that employees receive fair compensation for earned benefits, while providing clarity and preventing disputes over outstanding leave entitlements at the end of employment.
Accumulated Leave Payment. A lump sum of twenty (20) percent of accumulative sick leave, based upon the daily rate of the final year’s teaching contract, will be paid to teachers upon termination. Teachers under contract for the upcoming school year will forfeit the accumulated leave payment if a resignation is received after July 1. Teachers who choose to leave the district prior to the end of the school year, or are terminated by the district prior to the end of the school year are ineligible to receive accumulated leave pay.