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employee's unused, accumulated sick leave after five (5) years of continuous employment. After <br />fifteen (15) years of continuous employment, the employee will instead receive thirty-five (35) <br />percent of said employee's unused, accumulated sick leave. After twenty (20) years of continuous <br />employment, the employee will instead receive thirty-seven (37) percent of unused accumulated <br />sick leave. After twenty-five (25) years of continuous employment, the employee will instead <br />receive forty (40) percent of said employee's unused, accumulated sick leave. Eligible severance <br />pay will be applied per the applicable PEHCSP agreement as provided in Policy 4.8. <br />Receipt of severance pay terminates all seniority rights and ends all city of Ramsey liability with <br />regard to other benefits, except as otherwise provided by law and any applicable collective <br />bargaining agreement. <br />251Page <br />