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extent necessary to provide the employee and his or her <br />designated eligible dependents, if any, with benefits under the <br />health insurance program maintained by the City. The City's <br />obligation to pay such premium shall terminate upon the happening <br />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°/x) of the amount of the lump sum payment that the <br />employee would have received for unused sick leave <br />benefits had this option not been elected. <br />C. Except in cases of disability retirement, upon non - <br />disciplinary termination of employment after fifteen (15) <br />years of cumulative full -time service with the City, each <br />qualified employee shall be entitled to payment for two- thirds <br />(2/3) of the total sick leave benefit credited to his or her <br />account upon the effective date of such termination to be <br />applied toward health insurance premiums only as specified <br />in Subsection K(2) above excluding Subsections a and b <br />d. Any employee who retires after July 1, 2014 may apply any <br />payments for unused Sick Leave that an employee is eligible <br />for as described above may be applied to the Retirement <br />Health Savings account as described in Article 11 Section <br />11.7 of this MOU. <br />3. Payment After Twenty -Five Years. Affected employees shall be <br />granted payment for unpaid sick leave on the same basis above, <br />with the exception that such affected employees who have <br />completed twenty -five (25) years or more of cumulative service with <br />the City shall be entitled to payment for two- thirds (2/3) of the total <br />sick leave benefit credited to his or her account upon the effective <br />date of his or her termination, not to exceed a maximum limit of <br />1066 hours, at the rate of base pay effective on the date of such <br />termination. <br />L. The City Manager is authorized to grant a newly appointed incumbent of a <br />SAMA classification sick leave credits up to an amount equal to any <br />earned but unused sick leave credits available to such appointee at the <br />time of his or her separation from his or her most recent previous <br />25M -33 <br />