Common use of Threshold Qualifications Clause in Contracts

Threshold Qualifications. A retiring Teacher shall, pursuant to Minn. Stat. Section 122A.48, be eligible for a severance benefit, provided that the Teacher has accumulated sufficient sick leave under the Benefit Formula of Article XV (A) (3) and a. has reached the age of fifty-five (55) during the year (July 1 - June 30) after the completion of which the Teacher is eligible, and b. has fifteen (15) or more years of full-time teaching experience with the Employer, or c. has fifteen (15) or more years of less-than-full-time teaching experience with the Employer, in which case, such Teacher shall receive a prorated, part-time, yearly severance incentive based on the mean average of the top fifteen (15) years of contracted service multiplied by the Base-Compensation-Chart placement in the Teacher’s last year of teaching. (Note: Unpaid leaves of absence will not be credited towards meeting the fifteen (15) - year, teaching-experience requirement.)