Conversion at Separation. Upon the voluntary termination of employment of an employee who has not less than ten (10) years of continuous employment with the Employer, such employee shall be entitled to receive a cash payment equal to his hourly rate of pay at the time of retirement multiplied by one-fourth (1/4) the total number of accumulated but unused sick hours earned by the employee, as certified by the Finance Director, providing that such resulting number of hours to be paid shall not exceed one hundred twenty (120) hours.
Appears in 2 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement