Common use of Vacation and Leaves of Absence Clause in Contracts

Vacation and Leaves of Absence. The Executive shall be entitled to the normal and customary amount of paid vacation provided to senior executive officers of the Company. Vacation days that are not taken in a given calendar year shall accrue and be carried over to the next Calendar year up to a maximum of ten days. Upon any termination of this Agreement for any reason whatsoever, accrued and unused vacation will be paid to the Executive within 10 days of such termination based on his annual rate of Base Compensation in effect on the date of such termination. In addition, the Executive may be granted leaves of absence with or without pay for such valid and legitimate reasons as the Company in its sole and absolute discretion may determine, and the Executive shall be entitled to the same sick leave and holidays provided to other senior executives of the Company.

Vacation and Leaves of Absence. The Executive shall be entitled to the normal and customary amount of paid vacation provided to senior executive officers of the Company. Vacation , but in no event less than 20 days that are not taken in a given calendar year shall accrue and be carried over to during each 12 month period, beginning on the next Calendar year up to a maximum Commencement Date of ten daysthis Agreement. Upon any termination of this Agreement for any reason whatsoever, accrued and unused vacation for the year in which this Agreement terminates will be paid to the Executive within 10 days of such termination based on his annual rate of Base Compensation in effect on the date of such termination. In addition, the Executive may be granted leaves of absence with or without pay for such valid and legitimate reasons as the Company in its sole and absolute discretion may determine, and the Executive shall be entitled to the same sick leave and holidays provided to other senior executives of the Company.