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) to this Agreement.
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Vacation Payment has the meaning set forth in Section 9.4(f) hereof.
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Examples of Vacation Payment in a sentence

  • 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 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 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.

  • 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.

  • 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 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.

  • 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 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.

  • 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.


More Definitions of Vacation Payment

Vacation Payment has the meaning specified in Section 7(a).
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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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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. 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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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 has the meaning set forth in Section 6.03.

  • Termination Payment Date means the earlier of the first Distribution Date following the liquidation or sale of the Receivables as a result of an Insolvency Event and the occurrence of the Scheduled Series 1995-1 Termination Date.

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

  • Principal Relocation Payment A payment from any Loan Group to REMIC 1 Regular Interests other than those of their corresponding Loan Group as provided in the Preliminary Statement. Principal Relocation Payments shall be made of principal allocations comprising the Principal Amount from a Loan Group.

  • Estimated Swap Termination Payment means, with respect to an Early Termination Date, an amount determined by Party A in good faith and in a commercially reasonable manner as the maximum payment that could be owed by Party B to Party A in respect of such Early Termination Date pursuant to Section 6(e) of the ISDA Master Agreement, taking into account then current market conditions.

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Severance Payment means any amount paid by a board to or in behalf of a superintendent on early termination of the superinten- dent’s contract that exceeds the amount earned by the superinten- dent under the contract as of the date of termination, including any amount that exceeds the amount of earned standard salary and benefits that is paid as a condition of early termination of the con- tract. Payments to a former superintendent who remains employed by a district in another capacity or contracts with a district to pro- vide the district services may be severance payments in whole or in part if the payments are compensation for the early termination of a prior employment agreement. Severance payments include any payment for actual or threatened litigation involving or related to the employment contract. Education Code 11.201(c); 19 TAC 105.1021(a)(1)

  • Severance Amount means:

  • Non-Payment Period means a period commencing on and including a Dividend Payment Date or redemption date for which the Trust shall fail to (i) declare, prior to the close of business on the second Business Day preceding such Dividend Payment Date, for payment on or (to the extent permitted by Section 11.2(c)(i) of these Bylaws) within three Business Days after such Dividend Payment Date to the Holders as of 12:00 noon, New York City time, on the Business Day preceding such Dividend Payment Date, the full amount of any dividend on APS payable on such Dividend Payment Date, provided, however, that if the Trust is not able to make such declaration in compliance with the foregoing because an unforeseen event or unforeseen events causes or cause a day that otherwise would have been a Business Day not to be a Business Day, then the Trust may make such declaration on the Business Day immediately preceding the Dividend Payment Date, if possible, or, if not possible, on the Dividend Payment Date, and in such case the Trust shall not be deemed to have failed to declare a dividend otherwise required to be declared, or (ii) deposit, irrevocably in trust, in same-day funds, with the Auction Agent by 12:00 noon, New York City time, (A) on such Dividend Payment Date the full amount of any cash dividend on such shares payable (if declared) on such Dividend Payment Date or (B) on any such redemption date for any shares of APS called for redemption, the Mandatory Redemption Price per share of such APS or, in the case of an optional redemption, the Optional Redemption Price per share, and ending on and including the Business Day on which, by 12:00 noon, New York City time, all unpaid cash dividends and unpaid redemption prices shall have been so deposited or shall have otherwise been made available to Holders in same-day funds; provided that, a Non-Payment Period shall not end unless the Trust shall have given at least five days’ but no more than 30 days’ written notice of such deposit or availability to the Auction Agent, all Existing Holders (at their addresses appearing in the Share Books) and the Securities Depository. Notwithstanding the foregoing, the failure by the Trust to deposit funds as provided for by clauses (ii)(A) or (ii)(B) above within three Business Days after any Dividend Payment Date or redemption date, as the case may be, in each case to the extent contemplated by Section 11.2(c)(i) of these Bylaws, shall not constitute a “Non-Payment Period.”

  • Swap Termination Payment Upon the designation of an “Early Termination Date” as defined in the Swap Agreement, the payment to be made by the Swap Administrator to the Swap Provider from payments from the Trust Fund, or by the Swap Provider to the Swap Administrator for payment to the Trust Fund, as applicable, pursuant to the terms of the Swap Agreement.

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Distribution Payment Date has the meaning set forth in paragraph 2(b) of Annex I.

  • Early Termination Payment is defined in Section 4.3(b) of this Agreement.

  • Production Payment means a production payment obligation (whether volumetric or dollar denominated) of the Borrower or any of its Restricted Subsidiaries which are payable from a specified share of proceeds received from production from specified Oil and Gas Properties, together with all undertakings and obligations in connection therewith.

  • Final compensation of a member means:

  • Accommodation Payment as defined in Section 10.21(d).

  • Bonus Payment means a cash payment in an amount equal to the sum of (i) all Excise Taxes payable by the Executive, plus (ii) all additional Excise Taxes and federal or state income taxes to the extent such taxes are imposed in respect of the Bonus Payment, such that the Executive shall be in the same after-tax position and shall have received the same benefits that he would have received if the Excise Taxes had not been imposed. For purposes of calculating any income taxes attributable to the Bonus Payment, the Executive shall be deemed for all purposes to be paying income taxes at the highest marginal federal income tax rate, taking into account any applicable surtaxes and other generally applicable taxes which have the effect of increasing the marginal federal income tax rate and, if applicable, at the highest marginal state income tax rate, to which the Bonus Payment and the Executive are subject. An example of the calculation of the Bonus Payment is set forth below. Assume that the Excise Tax rate is 20%, the highest federal marginal income tax rate is 40% and the Executive is not subject to state income taxes. Further assume that the Executive has received an excess parachute payment in the amount of $200,000, on which $40,000 ($200,000 x 20%) in Excise Taxes are payable. The amount of the required Bonus Payment is thus computed to be $100,000, i.e., the Bonus Payment of $100,000, less additional Excise Taxes on the Bonus Payment of $20,000 (i.e., 20% x $100,000) and income taxes of $40,000 (i.e., 40% x $100,000), yields $40,000, the amount of the Excise Taxes payable in respect of the original excess parachute payment.

  • Rental Payments means the rental payments paid by the occupant of a unit, excluding any supplemental rental assistance to the occupant from the State, the federal government, or any other public agency, but including any mandatory fees or charges imposed on the occupant by the Owner as a condition of occupancy of the unit.

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • Coupon Payment Date means each day specified to be an Coupon Payment Date in the Product Terms.