Common use of Terminal Leave Payment Clause in Contracts

Terminal Leave Payment. Terminal leave pay shall be paid to employees hired before July 1, 2010, who qualify and retire under the provisions of the Michigan Public School Employees Retirement System, or to the estate upon death while in the District’s employ. Terminal leave shall be paid to the employee at sixty percent (60%) of the final rate of pay for unused sick leave days accumulated before July 1, 2010, within maximum days as specified below. The maximum of unused accumulated days depends upon the length of employment, and is as follows: At least ten (10) but less than fifteen (15) years 80 Days At least fifteen (15) but less than twenty (20) years 100 Days At least twenty (20) or more years 120 Days

Terminal Leave Payment. Terminal leave pay shall be paid to employees hired before July 1, 2010, who qualify and retire under the provisions of the Michigan Public School Employees State Retirement SystemAct, or to the estate upon death while in the District’s employ. Terminal leave shall be paid to the employee at sixty percent (60%) of the final rate of pay for unused accumulated sick leave days accumulated before July 1, 2010days, within maximum days as specified below. The maximum of unused accumulated days depends upon the length of employment, employment and is as follows: At least ten (10) but less than fifteen (15) years 80 Days At least fifteen (15) but less than twenty (20) years 100 Days At least twenty (20) or more years 120 Days