Vacation Payment definition

Vacation Payment means payments made to Executive with respect to accrued but unused vacation days.
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Vacation Payment shall have the meaning set forth in Section 6(a) of this Agreement.
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Vacation Payment has the meaning specified in Section 7(a).
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Examples of Vacation Payment in a sentence

  • If Executive’s employment is terminated by Executive pursuant to and in compliance with Paragraph 6(e), Employer shall pay to Executive the Compensation Payment, the Vacation Payment, and any unreimbursed Business Expenses, at the time and in the manner required by applicable law.

  • If Executive’s employment is terminated by Employer for Cause, Employer shall pay to Executive the Compensation Payment, the Vacation Payment, and any unreimbursed Business Expenses, at the time and in the manner required by applicable law.

  • If Executive’s employment and this Agreement is terminated by reason of Executive’s Inability to Perform, Employer shall pay to Executive the Compensation Payment, the Vacation Payment, and any unreimbursed Business Expenses at the time and in the manner required by applicable law.

  • In the event that Executive's employment is terminated by the Company for Cause, or by Executive other than for Good Reason, Executive shall only be entitled to receive the Vacation Payment and the Expense Payment.

  • As used in this Agreement, the term “accrued” with respect to Vacation Payment means the Vacation Payment to which Employee is entitled hereunder through the date in question.

  • In the event that Executive’s employment is terminated by the Company for Cause or by Executive without Good Reason, notwithstanding any other provision in this Agreement, Executive shall be entitled only to the Compensation Payment, the Vacation Payment, and the Expense Payment, and shall not be entitled to any further compensation or benefits hereunder including, without limitation, the payment of any bonus in respect of all or any portion of the fiscal year in which such termination occurs.

  • In the event that Executive's employment is terminated prior to the Termination Date (i) by the Company for Cause, or (ii) by Executive other than (A) for Good Reason or (B) as a result of the Executive's Permanent Disability or death, Executive shall only be entitled to receive the Compensation Payment and the Vacation Payment.

  • If Executive’s employment is terminated by Employer for Cause, Employer shall pay to Executive the Compensation Payment, the Vacation Payment, and any unreimbursed Business Expenses, at the time and in the manner required by applicable law but in no event later than 30 business days after the Employment Termination Date.

  • If Executive’s employment is terminated by reason of Executive’s Inability to Perform, Employer shall pay to Executive the Compensation Payment, the Vacation Payment, and any unreimbursed Business Expenses at the time and in the manner required by applicable law but in no event later than 30 business days after the Employment Termination Date.

  • If the Executive’s employment is terminated by reason of the Executive’s Disability, NMG shall pay to the Executive within 60 days of the Employment Termination Date (i) the Compensation Payment, provided that the payment of the bonus portion of the Compensation Payment may not be delayed past the date the bonus is payable under the terms of any bonus plan, (ii) the Vacation Payment, (iii) the Reimbursement, and (iv) the Prorated Bonus.


More Definitions of Vacation Payment

Vacation Payment has the meaning set forth in Section 9.4(f) hereof.
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Vacation Payment. Your total accrued, unused vacation remaining at your termination is 9 weeks, minus the 3 days paid with your final paycheck. This results in 42 days of vacation that will be paid to you as follows:
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Vacation Payment. TO EMPLOYEES OFF PAYROLL: Any employee who has once qualified for a "vacation" and who is thereafter terminated, granted a leave of absence or is laid off due to lack of work shall be entitled to a "Vacation Payment" for that portion of the year during which he/she was employed at the percentage rate applicable as of the date of such termination, leave of absence or layoff as herein provided. "Vacation payment" for such employees shall be mailed not later than ten (10) weeks after the close of the "Vacation Year."
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Vacation Payment in accordance with the following schedule: --------------------------------------------------------------------------- Continuous Service --------------------------------------------------------------------------- From But Less Than Vacation Vacation Payment --------------------------------------------------------------------------- 6 months 2 Years 1 Week 2.0% --------------------------------------------------------------------------- 2 Years 3 Years 2 Weeks 3.2% --------------------------------------------------------------------------- 3 Years 4 Years 2 Weeks 3.6% --------------------------------------------------------------------------- 4 Years 5 Years 2 Weeks 4.0% --------------------------------------------------------------------------- 5 Years 6 Years 2 Weeks 4.2% --------------------------------------------------------------------------- 6 Years 7 Years 2 Weeks 4.4% --------------------------------------------------------------------------- 7 Years 15 Years 3 Weeks 6.0% --------------------------------------------------------------------------- 15 Years 20 Years 4 Weeks 8.0% --------------------------------------------------------------------------- 20 Years & Over 5 Weeks 10.0% --------------------------------------------------------------------------- The "Vacation Payment" shall be computed upon the above indicated percentage of the employee's total earnings during the "Vacation Year." An additional amount shall be paid as a differential, however, in any case where, because of layoff for lack of work, the vacation payment of an employee under the foregoing schedule is less than one week's pay of the employee at his/her regular straight time base rate for the number of hours in his/her normal scheduled work week. In such case, the employee's vacation payment will be equal to the amount of said one week's pay, provided that this additional amount should not be paid unless the employee shall have worked at least twenty-six (26) weeks in the vacation year and shall not apply for more than one vacation year of an employee. The Company will make up the difference in vacation pay from that received by any veteran re-employed during the period from October 1 of the "Vacation Year" currently applicable to "Vacation" and "Vacation Payment" and September 30 of the immediately succeeding "Vacation Year," under the normal vacation plan and that which he/she would have received, assuming he/she was on the payroll for an entire twelve (12) month period. This...
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Related to Vacation Payment

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

  • Termination Payment means the amount payable by either Party to the other upon Termination in accordance with Article 23;

  • Termination Payment Date means the date on which the RECIPIENT is required to repay to ECOLOGY any outstanding balance of the loan and all accrued interest.

  • Termination Payments has the meaning specified in Section 10(a).