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<br />ARTICLE 27 <br />ANNUAL IV ACATlON) AND SICK LEA VE <br /> <br />Section I. Employees may accrue annual (vacation) leave, which shall be earned, <br />accumulated and cashed out according to the City's established program., <br /> <br />Section 2. Upon retirement, resignation with two (2) weeks' notice and layoffs, <br /> <br /> <br />accumulated sick leave will be paid on the basis of the following schedule: <br /> <br />% OF SICK LEA VE PAID <br /> <br />YEARS OF SERVICE <br /> <br />AT BREAK IN SERVICE <br /> <br />Less than 3 years <br />3 through 4 years <br />5 through 9 years <br />10 through 19 years <br /> <br />0% <br /> <br />10% <br /> <br />25% <br /> <br />50% <br /> <br />20 through or more years of service 75% <br /> <br />Accumulated sick leave percentage will be paid based on the number of completed years of <br />service and paid based on the employee's rate of pay in effect at the time the sick leave was <br />earned or accumulated. <br /> <br />Section 3. The accumulation for payout purposes shall be no more than 1200 sick <br />leave hours for employees covered by this agreement and no more than 3 years of accrual for <br />vacation leave. <br /> <br />- 35- <br />