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13 have completed twenty (20) or more years of continuous service with the EMPLOYER and who leave in good standing, will receive 50% of unused, accumulat ed sick leave upon their separation. To qualify for this benefit an employee must have an established sick leave bank resulting from the conversion to the PTO program. (Refer to Article XXIX section 19.1.) Any benefit paid under this Article shall be paid into the employee's Post- Employment Health Care Savings Plan (Refer to Article XXX (section 30.4). ARTICLE XXVIII — WAIVER 28.1 Any and all prior agreements, resolutions, practices, policies, rules and regulations regarding terms and conditions of employm ent, to the extent inconsistent with the provisions of this AGREEMENT, are hereby superseded. 28.2 The parties mutually acknowledge that during the negotiations which resulted in this AGREEMENT, each had the unlimited right and opportunity to make demands and proposals with respect to any term or condition of employment not removed by law from bargaining. All agreements and understandings arrived at by the parties are set forth in writing in this AGREEMENT for the stipulated duration of this AGREEMENT. The EMPLOYER and the UNION each voluntarily and unqualifiedly waives the right to meet and negotiate regarding any and all terms and conditions of employment referred to or covered in this AGREEMENT, or with respect to any term or condition of employment not specifically referred to or covered by this AGREEMENT, even though such terms or conditions may not have been within the knowledge or contemplation of either or both parties at the time this contract was negotiated or executed. ARTICLE XXIX — CENTRAL PENSION FUND The EMPLOYER and the UNION agree that an amount designated herein that would otherwise be paid in salary or wages will be contributed instead to the Central Pension Fund (CPF) as pretax employer contributions. A pension contrib ution of ninety-six cents ($0.96) per hour will be made for each employee, for a maximum of two thousand eighty hours (2080) per calendar year. The hourly contribution rate will be applied to every hour compensated (ie. Hours worked, PTO, and holidays) except for overtime hours worked. The EMPLOYER shall deduct seventy- six dollars and eighty cents ($76.80) every eight (80) hour pay period. The EMPLOYER shall pay this contribution directly to the IUOE Central Pension Fund. The UNION agrees to indemnify and hold the EMPLOYER, its Officers, Agents, and employees harmless against any claims, suits, orders or judgments, brought against the EMPLOYER as a result of any action taken or not taken by the EMPLOYER on the specific provisions of this Article. This "hold harmless" clause does not hold the EMPLOYER harmless for failing to transfer the agreed contributions to the IUOE Central Pension Fund. It is agreed that for purposes of determining future wage rates, the EMPLOYER shall first restore the amount of the wage reduction, which is currently the CPF contribution rate of $0.96 per hour, then apply the applicable wage multiplier, then reduce the revised wage by the CPF contribution rate. It is further agreed that for purposes of calculating overtime compensation th e EMPLOYER shall first restore the amount of the wage reduction ($0.96/ hr.) then apply the applicable 1.5 or 2.0 wage multiplier required under the Fair Labor Standards Act and the collective bargaining agreement, then pay the resulting amount for overtim e worked.