Annual Leave and Recreation Pay Sample Clauses

Annual Leave and Recreation Pay. (Damei Havra'a): The Employee shall be entitled to fifteen (15) working days of paid annual leave each year. The Employee shall not be allowed to accrue more than thirty (30) working days of annual leave except in unusual circumstances and with the permission of the Company. Should the Employee's annual leave balance exceed thirty (30) days at the end of any calendar year, the excess number of days shall be paid out in accordance with the provisions of the Annual Leave Law - 1951. The Company shall also pay the Employee for five (5) days of recreation (damei havra'a) each year in accordance with the law and the normal practice of the Company in effect from time to time.
Sample 1
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Annual Leave and Recreation Pay. (Damei Havra'a): The Employee shall be entitled to thirty (30) working days of paid annual leave each year. It is the intention of the Company that the Employee utilize at least ten (10) working days of paid annual leave each year. To the extent that such ten (10) working days of paid annual leave are not utilized by the Employee, they shall be forfeited at the end of each calendar year. In addition, the Employee shall not be allowed to accrue more than thirty (30) working days of annual leave except in unusual circumstances and with the permission of the Board of Directors of the Company. Subject to the requirement that at least ten (10) working days of paid annual leave be utilized by the Employee in each calendar year or be forfeited, should the Employee's annual leave balance exceed thirty (30) working days at the end of any calendar year, the excess number of days shall be paid out in accordance with the provisions of the Annual Leave Law - 1951. The Company shall also pay the Employee for five (5) days of recreation (damei havra'a) each year in accordance with the law and the normal practice of the Company in effect from time to time.
Sample 1Sample 2
Annual Leave and Recreation Pay. (DAMEI HAVRA'A): The Employee shall be entitled to twenty (20) working days of paid annual leave each year. The Employee shall not be allowed to accrue more than thirty (30) working days of annual leave except in unusual circumstances and with the permission of the Company. Should the Employee's annual leave balance exceed thirty (30) days at the end of any calendar year, the excess number of days shall be paid out in accordance with the provisions of the Annual Leave Law - 1951. The Company shall also pay the Employee for five (5) days of recreation (damei havra'a) each year in accordance with the law and the normal practice of the Company in effect from time to time.
Sample 1
Annual Leave and Recreation Pay. (Damei Havra'a): The Employee shall be entitled to four (4) working days of paid annual leave each year. The Employee shall not be allowed to accrue more than ten (10) working days of annual leave except in unusual circumstances and with the permission of the Company. Should the Employee's annual leave balance exceed ten (10) days at the end of any calendar year, the excess number of days shall be paid out in accordance with the provisions of the Annual Leave Law - 1951. Notwithstanding the foregoing, any unused annual leave accrued by the Employee prior to the Effective Date shall be paid out as part of the first payment of his Global Salary following the Effective Date. The Company shall also pay the Employee for one (1) day of recreation (damei havra'a) each year in accordance with the law and the normal practice of the Company in effect from time to time.
Sample 1

Related to Annual Leave and Recreation Pay

  • Annual Leave Party B is entitled to the paid annual leave pursuant to Party A’s vacation policy.

  • Vacation Pay In consideration of all payments made by the Company to the Executive pursuant to this Agreement, the Executive hereby waives any claim he may have for accrued and unpaid vacation pay as of the Termination Date.

  • Vacations; Leave The Employee shall be entitled to annual paid vacation in accordance with the policies established by the Board of Directors for executive employees and to voluntary leave of absence, with or without pay, from time to time at such times and upon such conditions as the Board of Directors may determine in its discretion.

  • Vacation; Benefits During the Term, the Executive shall be eligible for 20 vacation days annually, which shall be accrued and used in accordance with the applicable policies of the Company. During the Term, the Executive shall be eligible to participate in such medical, dental and life insurance, retirement and other plans as the Company may have or establish from time to time on terms and conditions applicable to other senior executives of the Company generally. The foregoing, however, shall not be construed to require the Company to establish any such plans or to prevent the modification or termination of such plans once established.

  • Relocation Benefits If the Executive moves his residence in order to pursue other business or employment opportunities during the Continuation Period and requests in writing that the Company provide relocation services, he will be reimbursed for any expenses incurred in that initial relocation (including taxes payable on the reimbursement) which are not reimbursed by another employer. Benefits under this provision will include assistance in selling the Executive's home and all other assistance and benefits which were customarily provided by the Company to transferred executives prior to the Change in Control.

  • Vacations and Sick Leave The Executive shall be entitled to paid annual vacation leave in accordance with the policies as established from time to time by the Board of Directors, which shall in no event be less than four weeks per annum. The Executive shall also be entitled to an annual sick leave benefit as established by the Board for senior management employees of the Bank. The Executive shall not be entitled to receive any additional compensation from the Bank for failure to take a vacation or sick leave, nor shall he be able to accumulate unused vacation or sick leave from one year to the next; provided, however, such Executive may carry forward from year to year a maximum of ten days of unused vacation leave.

  • Vacations and Leave a. Executive may take vacations and other leave in accordance with the Bank’s policy for senior executives, or otherwise as approved by the Board.

  • Minimum Benefits If the Termination Date occurs during the Employment Period for any reason, Executive shall be entitled to the Minimum Benefits, in addition to any other benefits to which Executive may be entitled under the following provisions of this Section 4 or the express terms of any employee benefit plan or as required by law. Any benefits to be provided to Executive pursuant to this Section 4(a) shall be provided within 30 days after the Termination Date; provided, however, that any benefits, incentives or awards payable as described in Section 4(f) shall be provided in accordance with the terms of the applicable plan, program or arrangement. Except as may expressly be provided to the contrary in this Agreement, nothing in this Agreement shall be construed as requiring Executive to be treated as employed by the Company or any Affiliate following the Termination Date for purposes of any plan, program, or arrangement.

  • General Benefits During the Term of Employment, the Executive shall be entitled to participate in such employee pension and welfare benefit plans and programs of the Company as are made available to the Company's senior-level executives or to its employees generally, as such plans or programs may be in effect from time to time, including, without limitation, health, medical, dental, long-term disability, travel accident and life insurance plans.

  • Standard Benefits During the Employment Period, Executive shall be entitled to participate in all employee benefit plans and programs, including paid vacations, generally available to other similarly situated Company executives, subject to the terms and conditions of the applicable plans.

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