Holiday entitlement on termination. Upon notice of termination of the Employment being served by either party, the Company may require the Executive to take any unused holidays accrued at that time during any notice period. Alternatively, the Company may, at its discretion, on termination of the Employment, make a payment in lieu of accrued contractual holiday entitlement. The Executive will be required to make a payment to the Company in respect of any holidays taken in excess of his holiday entitlement accrued at the Termination Date. Any sums so due may be deducted from any money owing to the Executive by the Company.
Appears in 3 contracts
Samples: Service Agreement (Canargo Energy Corp), Employment Agreement (Canargo Energy Corp), Employment Agreement (Canargo Energy Corp)
Holiday entitlement on termination. Upon notice of termination of the Employment being served by either party, the Company may require the Executive to take any unused holidays accrued at that time in the holiday year in which the termination takes place during any notice period. Alternatively, the Company may, at its discretion, on termination of the Employment, make a payment in lieu of accrued contractual holiday entitlement. The Executive will be required to make a payment to the Company in respect of any holidays taken in excess of his holiday entitlement accrued at the Termination Date. Any sums so due may be deducted from any money owing to the Executive by the Company.. 299021913 v1
Appears in 1 contract
