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2. The City shall reimburse CIRDC for sick leave days taken by Employees when: <br /> a. Employees'sick leave is taken within 3 years of their date of transfer to CIRDC; <br /> AND <br /> b. Employees' sick leave is taken for more than 3 consecutive days OR for more <br /> than 3 total days annually for the same event;AND <br /> c. CIRDC provides the City with proper documentation of the sick leave. <br /> 3. Reimbursement shall be paid only for sick leave days taken beyond the third day <br /> described in Paragraph 2(b)above. <br /> 4. Reimbursement shall be equal to (i)the number of hours of leave taken multiplied <br /> by the Employee's current hourly wage; or (ii) the value of the Employee's sick <br /> pay as of December 31,2017,whichever is lower. <br /> 5. The obligation for reimbursement described in this subsection is void if the <br /> Employee does not have accrued sick leave time with the City as of December 31, <br /> 2017 and limited to the total amount of sick leave time an Employee had as of <br /> December 31, 2017. <br /> C. APPROVED VACATION TIME <br /> 1. The value of any approved,unused vacation time accrued by Employees at the City <br /> up to and including December 31, 2017, shall be paid by the City to CIRDC. The <br /> amount of payment shall be calculated as the number of hours accrued,multiplied <br /> by the Employee's rate of pay at the City on December 31,2017. <br /> 2. The value of any approved,unused vacation time accrued by Employees at the City <br /> between their 2017 anniversary date (in accordance with the City and CIRDC <br /> employment guidelines) and up to and including December 31,2017, shall be paid <br /> 50% by the City to CIRDC. The amount of payment shall be calculated as the <br /> number of hours accrued, multiplied by the Employee's rate of pay at the City on <br /> December 31,2017,divided by half. <br /> D. ACCRUED HOLIDAY TIME <br /> The value of any approved, unused holiday time (as defined in the City's collective <br /> bargaining agreement with the American Federation of State, County and Municipal <br /> Employees,Council 31 on behalf of Local 268 in effect on December 31,2017)accrued <br /> by Employees at the City up to and including December 31,2017, shall be paid by the <br /> Page 2 of 4 <br />