A staff member who is employed on a regular or full-time basis for twelve (12) calendar months may be entitled to a lump-sum payment for his/her accrued vacation leave upon termination of employment, transfer to less than a twelve (12) month position within the District, or retirement. In the case of an employee’s death, his/her beneficiary shall be entitled to the lump-sum payment of the accrued vacation leave. No more than 500 hours through 6/30/03 or 60 days effective 7/1/03 shall be paid.

I. The employee may choose to receive a lump-sum terminal payment of accrued vacation leave with the final salary warrant or extend his/her employment status through the last day of accrued vacation leave.

II. Payment shall be the daily rate of pay at the time of termination, transfer, retirement, or death.

III. The employee shall have been employed by the District at the time of termination, retirement or death.