Sabbatical leave shall be paid according to the following formula: A teacher shall have been on staff for seven consecutive years. (Consecutive to mean that the teacher has not been under the employ of someone other than Hanover School Division.) The allowance paid during his/her leave shall be 50% of his/her basic salary, plus increments. (Principal's allowance not included.) Not more than 2% of the teachers on staff in the Division shall be eligible for leave in any one year. Leave shall be granted for further study only. Each teacher shall be required to return to the Division for three years after his/her one year of sabbatical leave. In the event that a teacher does not return after the leave, he/she shall be required to refund 100% of the sabbatical allowance. If the teacher leaves employment after one year of service, 2/3 of his/her allowance shall be refunded. If the teacher returns for two years only, he/she shall be required to refund 1/3 of his/her sabbatical allowance. Approval for leave may be granted by the Superintendent and the School Board. All applications for sabbatical leave shall be submitted to the Superintendent by the last teaching day in November. Approval or denial of such leave shall be decided by the last teaching day of December.