Common use of Paid Vacation Clause in Contracts

Paid Vacation. In addition to U.S. statutory holidays, the Executive will be entitled to 20 business days of paid vacation per year, accruing at the rate of 1.66 days per month. A maximum of ten unused vacation days in any year may be carried over and used in the next year, subject to such policies as the Company may adopt from time to time with respect thereto. If by December 31, each year, the Executive has accrued in excess of ten unused vacation days, the Company shall pay (consistent with existing Company policy) the Executive a cash amount (based on the Executive's then current year's base salary) equal to such excess up to a maximum not to exceed ten vacation days.

Paid Vacation. In addition to U.S. statutory holidays, the Executive will be entitled to 20 twenty (20) business days of paid vacation per year, accruing at the rate of 1.66 days per month. A maximum of ten unused vacation days in any year may be carried over and used in the next year, subject to such policies as the Company may adopt from time to time with respect thereto. If by December 31, each year, the Executive has accrued in excess of ten unused vacation days, the Company shall pay (consistent with existing Company policy) the Executive a cash amount (based on the Executive's then current year's base salary) equal to such excess up to a maximum not to exceed ten vacation days.