(a) Except for employees covered by a collective bargaining agreement and except as provided in § 9-306 of this subtitle, an employee is entitled, on termination of State employment, to compensation for unused annual leave.

(b) The amount of compensation to be paid under this section shall equal one-tenth of the employee’s established biweekly compensation at the time of termination of State employment, multiplied by:

(1) the number of days of annual leave, not exceeding 50 days or 400 hours of the total that were accrued at the end of the previous calendar year and that remain unused; and

(2) the number of days of annual leave that accrued during the calendar year in which the employee’s State employment terminates and that remain unused.