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<br />date of death. <br />2. At his or her option, an employee may convert any lump sum payment <br />provided herein into health insurance premiums, to the extent <br />necessary to provide the employee and his or her designated eligible <br />dependents, if any, with benefits under the health insurance program <br />maintained by the City. The City's obligation to pay such premium <br />shall terminate upon the happening of any of the following events: <br />a. Premiums have been paid on behalf of the former employee <br />until all monies are exhausted; or <br />b. The sum of premiums paid equals one hundred fifty percent <br />(150%) of the amount of the lump sum payment that the <br />employee would have received for unused sick leave benefits <br />had this option not been elected. <br />c. Except in cases of disability retirement, upon non-disciplinary <br />termination of employment after fifteen (15) years of <br />cumulative full-time service with the City, each qualified <br />employee shall be entitled to payment for two-thirds (2/3) of <br />the total sick leave benefit credited to his or her account upon <br />the effective date of such termination to be applied toward <br />health insurance premiums only as specified in Subsection <br />K(2) above excluding Subsections a and b. <br />3. Pavment After Twentv-Five Years. Affected employees shall be <br />granted payment for unused sick leave on the same basis above, with <br />-45- <br />