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<br />[DISCUSSION DRAFT] <br /> <br />2. <br /> <br />The employee must provide proper written notice of hislher resignation <br />(see Resignation Policy above); <br /> <br />3. The employee must have worked for the City for at least two (2) <br />consecutive years; and <br /> <br />4. The employee must execute a release of claims. <br /> <br />For example, if an employee satisfies the above conditions, has accumulated 1000 hours of sick <br />leave and makes $10.00 per hour, the employee will receive severance pay as follows: <br /> <br />1000 hours x 15% = 150 hours <br />Maximum hours eligible for severance pay = 144 hours <br />144 hours x $10.00Ihour = $1,440 severance pay <br /> <br />Any accumulated sick leave in excess of nine hundred sixty (960) hours is not eligible for <br />payment under this policy (960 x 15% = 144). Employees may, however, continue to <br />accumulate sick leave in excess of nine hundred sixty (960) hours as a form of income protection <br />in the event of unexpected long-term illnesses during their employment. <br /> <br />10 <br /> <br />. <br /> <br />. <br /> <br />. <br />