Upon retirement verification, severance pay will be granted to all employees according to law. To be eligible for severance pay, an employee must have five (5) continuous years of service with the Educational Service Center Governing Board.

With less than ten (10) years continuous service with the Educational Service Center Governing Board the maximum severance pay will be limited to one-fourth (1/4) of the accumulated sick leave (180 days max.) NOT TO EXCEED THIRTY (30) DAYS.

With more than ten (10) years of continuous service with the Educational Service Center Governing Board the maximum severance pay will be limited to
one-fourth (1/4) of the accumulated sick leave (180 days max.) NOT TO EXCEED FORTY-FIVE (45) DAYS.

Compensation will be based on the daily rate in effect at date of retirement.

Payment of Severance Pay shall eliminate all obligations of the employer at the time of retirement for any further payment or restoration of sick leave unused.