4415 - SEVERANCE PAY
For Employees in the Office of the Superintendent
Severance Pay -- A full time employee who has worked for a minimum of ten (10) years for Argos Community Schools shall be eligible for severance pay. The rate will be in the policy times the number of unused sick days. Termination for just cause will not qualify for severance pay.
Severance pay rate starting in 2001 will be as follows:
$25.00/day for ten (10) years of service;
$35.00/day for fifteen (15) years of service; and
$45.00/day for twenty (20) or more years of service.
For Employees Not in the Office of the Superintendent
Severance Pay -- A full time employee who has worked for a minimum of ten (10) years for Argos Community Schools shall be eligible for severance pay. The rate will be in the policy times the number of unused sick days. Termination for just cause will not qualify for severance pay.
Severance pay rate starting in 2001 will be as follows:
$25.00/day for ten (10) years of service;
$35.00/day for fifteen (15) years of service; and
$45.00/day for twenty (20) or more years of service.