Common use of Annual Paid Vacation Clause in Contracts

Annual Paid Vacation. Beginning on the Effective Date of this Agreement, Executive shall be entitled to four (4) weeks’ paid vacation time each year, which may be used for any purpose including vacation, sick or personal time. On each anniversary of the Effective Date during the Term, Executive shall be entitled to four (4) weeks’ paid vacation time. The Executive shall not take more than fourteen (14) consecutive calendar days of vacation without the prior approval of the REIT’s Chief Executive Officer. Unless otherwise approved by the Chief Executive Officer of the REIT in writing, vacation time does not roll over from one year to the next. Unused vacation time shall not be paid out at the end of the year or upon termination of employment for any reason.

Annual Paid Vacation. Beginning on the Effective Date of this Agreement, the Executive shall be entitled to four (4) weeks’ paid vacation time each year, which may be used for any purpose including vacation, sick or personal time. On each anniversary of the Effective Date during the Term, the Executive shall be entitled to four (4) weeks’ paid vacation time. The Executive shall not take more than fourteen (14) consecutive calendar days of vacation without the prior approval of the REIT’s Chief Executive Officer. Unless otherwise approved by the Chief Executive Officer of the REIT in writing, vacation time does not roll over from one year to the next. Unused vacation time shall not be paid out at the end of the year or upon termination of employment for any reason.

Annual Paid Vacation. Beginning on the Effective Date of this Agreement, Executive shall be entitled to four six (46) weeks’ paid vacation time each year, which may be used for any purpose including vacation, sick or personal time. On each anniversary of the Effective Date during the Term, Executive shall be entitled to four six (46) weeks’ paid vacation time. The Executive shall not take more than fourteen (14) consecutive calendar days of vacation without the prior approval of the REIT’s Chief Executive OfficerBoard. Unless otherwise approved by the Chief Executive Officer of the REIT Board in writing, vacation time does not roll over from one year to the next. Unused vacation time shall not be paid out at the end of the year or upon termination of employment for any reason.