Common use of VACATIONS, ETC Clause in Contracts

VACATIONS, ETC. The Executive will be entitled to three weeks' paid vacation each Fiscal Year and paid holidays and paid sick leave in accordance with the holiday and paid sick leave policies of the Employer as established from time to time by the Board of Directors. Holidays and paid sick leave during any Fiscal Year that are not used by the Executive during such Fiscal Year may not be used in any subsequent Fiscal Year. Vacation days may be accrued up to a maximum of 20 days. Once the Executive has accrued 20 days, no more will accrue until Executive has used some of his vacation days and reduced the number of available time below 20 days.