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DES:~'~ ~22/90 (008/26) <br /> <br />unused sick leave accrued during the year for which payment <br />is calculated to and including December 31 of such year; <br />unused sick leave accrued prior to the Commencement Date <br />shall not be valued for purposes of calculating payments <br />hereunder, and only that unused sick leave which has been <br />credited during the year for which such calculation is made <br />shall be valued for such purposes. The unused sick leave of <br />employees for whom compensation in lieu of sick leave is <br />payable herein shall be reduced by that amount of sick leave <br />valued for purposes of making payments hereunder, and the <br />remaining balance of sick leave shall be carried forward to <br />the following year as accrued sick leave; amounts payable <br />hereunder shall be paid after December 31 of the year for <br />which calculated except for payment upon termination. <br /> <br /> Notwithstanding the paragraph above, any employee <br />eligible for payment under this subparagraph (iv) may elect <br />not to receive the benefits of said subparagraph; provided, <br />however, that election must be made in writing and filed <br />with the Port Manager (or, with respect to the Port Manager, <br />filed with the Board of Port Commissioners) on or before <br />December 1 of each year for which said election is to be <br />effective. Said election shall be effective only for the <br />year in which made, and a new filing shall be made for each <br />year in which said ~lection is to be effective. <br /> <br /> Every employee leaving the service of the Port and <br />eligible for payment under this subparagraph (iv) shall <br /> <br /> 6 <br /> <br /> <br />