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2. At his or her option, an employee may convert any lump sum <br />payment provided herein into health insurance premiums, to <br />the 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 <br />happening of any of the following events: <br />a. Premiums have been paid on behalf of the former <br />employee until all monies are exhausted; or <br />b. The sum of premiums paid equals one hundred fifty <br />percent (150 %) of the amount of the lump sum payment <br />that the employee would have received for unused sick <br />leave 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 - <br />thirds (2/3) of the total sick leave benefit credited to his or <br />her account upon the effective date of such termination <br />to be applied toward health insurance premiums only as <br />specified in Section 1 l .l .K.2 above, excluding Subsections <br />a and b. <br />3. Payment after 15 Years., Affected employees shall be granted <br />payment for unused sick leave on the some basis above, with <br />the exception that such affected employees who have <br />completed fifteen (15) years of cumulative service with the city <br />shall be entitled to payment for one -half (1 /2) of the total sick <br />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 />800 hours, at the rate of base pay effective on the date of such <br />termination. <br />4. Payment after 20 years. Affected employees shall be granted <br />payment for unused sick leave on the same basis above, with <br />the exception that such affected employees who have <br />completed twenty (20) years of cumulative service with the city <br />shall be entitled to payment for two - thirds (2/3) of the total sick <br />leave benefit credited to his or her account upon the effective <br />CONFIDENTIAL ASSOCIATION OF SANTA ANA ICASAI MOU; 2015 - -2017 Page 47 <br />25G -49 <br />