Vacations and Holidays The Executive will be entitled to three (3) weeks' paid vacation each calendar year in accordance with the vacation policies of the Employer in effect for its executive officers from time to time. The Executive will also be entitled to the paid holidays and other paid leave set forth in the Employer's policies. Vacation days during any calendar year that are not used by the Executive during such calendar year may be used in any subsequent calendar year; provided, however, that no more than six weeks' paid vacation may be accrued or carried forward.
HOLIDAYS AND HOLIDAY PAY 117. A holiday is calculated based on an eight (8) hour day. The following days are designated as holidays:
Overtime Rates All overtime hours shall be compensated at the rate of time and one- half (1-1/2).
Holidays on Day Off When any of the above noted holidays fall on an employee's scheduled day off for those employees who work other than the normal work week, Monday to Friday, inclusive, the employee shall receive another day off with pay at a time mutually agreed upon between the employee and the Employer.
Overtime Rate In accordance with the applicable wage and hour laws, the overtime rate will be one and one-half (1-1/2) of an employee’s regular rate of pay. The regular rate of pay will not include any allowable exclusions.