Common use of Vacation Days Clause in Contracts

Vacation Days. If a Severance Termination has occurred, then, subject to subsection (b) of this Section, the Company shall promptly (but not later than the Severance Payment Date) pay (or cause the applicable SGRP Company to promptly pay) to the Employee an amount equal to his or her accrued and unused vacation days (if any), computed based on the Employee's Annual Compensation, which the Company shall pay promptly and in accordance with the applicable policy of the Company (or if changed during the Pending Period or the Protected Period), in accordance with the immediately preceding applicable policy of the Company). The Employee acknowledges that personal days and sick days are not vacation days for this or any other purpose.

Appears in 5 contracts

Samples: Spar Group Inc, Spar Group Inc, Spar Group Inc

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Vacation Days. If a Severance Termination has occurred, then, in addition to the Severance Payment and subject to subsection (b) of this Section, the Company shall promptly (but not later than the Severance Payment Date) pay (or cause the applicable SGRP Company Affiliate to promptly pay) to the Employee an amount equal to his or her accrued and unused vacation days (if any), computed based on the Employee's ’s Annual Compensation, which the Company shall pay promptly and in accordance with the applicable policy of the Company (or if changed during pending or following the Pending Period or the Protected Period)applicable Service Termination, in accordance with the immediately preceding applicable policy of the Company). The Employee acknowledges that personal days and sick days are not vacation days for this or any other purpose.

Appears in 1 contract

Samples: Terms and Severance Agreement (Spar Group Inc)

Vacation Days. If a Severance Termination has occurred, then, subject to subsection (b) of this Section, the Company shall promptly (but not later than the Severance Payment Date) pay (or cause the applicable SGRP Company to promptly pay) to the Employee an amount equal to his or her accrued and unused vacation days (if any), computed based on the Employee's Annual Compensation, which the Company shall pay promptly and in accordance with the applicable policy of the Company (or if changed during the Pending Period or the Protected Period), in accordance with the immediately preceding applicable policy of the Company). The Employee acknowledges that personal days and sick days are not vacation days for this or any other purpose.

Appears in 1 contract

Samples: Officer Severance Agreement (Spar Group Inc)

Vacation Days. If a Severance Termination has occurred, then, subject to subsection (b) of this Section, the Company shall promptly (but not later than the Severance Payment Date) pay (or cause the applicable SGRP Company to promptly pay) to the Employee an amount equal to his or her accrued and unused vacation days (if any), computed based on the Employee's Annual Compensation, which the Company shall pay promptly and in accordance with the applicable policy of the Company (or if changed during the Pending Period or the Protected Period), in accordance with the immediately preceding applicable policy of the Company). The Employee acknowledges that personal days and sick days are not vacation days for this or any other purpose.

Appears in 1 contract

Samples: Spar Group Inc

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Vacation Days. If a Severance Termination has occurred, then, subject to subsection (b) of this Section, the Company Employer shall promptly (but not later than the Severance Payment Date) pay (or cause the applicable SGRP Company to promptly pay) to the Employee an amount equal to his or her accrued and unused vacation days (if any), computed based on the Employee's Annual Compensation, which the Company Employer shall pay promptly and in accordance with the applicable policy of the Company Employer (or if changed during the Pending Period or the Protected Period), in accordance with the immediately preceding applicable policy of the CompanyEmployer). The Employee acknowledges that personal days and sick days are not vacation days for this or any other purpose.

Appears in 1 contract

Samples: Officer Severance Agreement (Spar Group Inc)

Vacation Days. If a Severance Termination has occurred, then, subject to subsection (b) of this Section, the Company shall promptly (but not later than the Severance Payment Date) pay (or cause the applicable SGRP Company SPAR Affiliate to promptly pay) to the Employee an amount equal to his or her accrued and unused vacation days (if any), computed based on at the Employee's Annual CompensationSalary, which the Company shall pay promptly and in accordance with the applicable policy of the Company (or if changed during pending or following the Pending Period or the Protected Period)applicable Change in Control, in accordance with the immediately preceding applicable policy of the Company). The Employee acknowledges that personal days and sick days are not vacation days for this or any other purpose.

Appears in 1 contract

Samples: Change in Control Severance Agreement (Spar Group Inc)

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