Common use of Paid Time Off (PTO) / Paid Holidays Clause in Contracts

Paid Time Off (PTO) / Paid Holidays. You shall accrue PTO at the rate of 20 days for each calendar year, prorated as applicable for any partial calendar year and subject to the terms of the Company's vacation policy. PTO is meant to include all vacation, personnel and sick days. You shall not be entitled to any additional PTO. You shall be compensated at the usual rate of base compensation for any PTO. You shall also be entitled to paid Company Holidays as generally given by the Company. Company Holidays are currently defined as New Year's Day, Memorial Day, Independence Day, Labor Day, the day before Thanksgiving Day, and Christmas Day. PTO days may not be accumulated beyond the calendar year in which they are due, without the prior written consent of the Company.

Appears in 2 contracts

Samples: Employment Agreement (Zion Oil & Gas Inc), Employment Agreement (Zion Oil & Gas Inc)

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Paid Time Off (PTO) / Paid Holidays. You shall accrue PTO at the rate of 20 21 days for each calendar year, prorated as applicable for any partial calendar year and subject to the terms of the Company's ’s vacation policy. PTO is meant to include all vacation, personnel and sick days. You shall not be entitled to any additional PTO. You shall be compensated at the usual rate of base compensation for any PTO. You shall also be entitled to paid Company Holidays as generally given by the Company. Company Holidays are currently defined as New Year's ’s Day, Memorial Day, Independence Day, Labor Day, the day before Thanksgiving Day, Thanksgiving Day and Christmas Day. PTO days may not be accumulated beyond the calendar year in which they are due, without the prior written consent of the Company.

Appears in 1 contract

Samples: Employment Agreement (IDO Security Inc.)

Paid Time Off (PTO) / Paid Holidays. You shall accrue PTO at the rate of 20 21 days for each calendar year, prorated as applicable for any partial calendar year and subject to the terms of the Company's ’s vacation policy. PTO is meant to include all vacation, personnel and sick days. You shall not be entitled to any additional PTO. You shall be compensated at the usual rate of base compensation for any PTO. You shall also be entitled to paid Company Holidays as generally given by the Company. Company Holidays are currently defined as New Year's ’s Day, Memorial Day, Independence Day, Labor Day, the day before Thanksgiving Day, the day after Thanksgiving Day and Christmas Day. PTO days may not be accumulated beyond the calendar year in which they are due, without the prior written consent of the Company.

Appears in 1 contract

Samples: Employment Agreement (Full Spectrum Inc.)

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Paid Time Off (PTO) / Paid Holidays. You shall accrue PTO at the rate of 20 days for each calendar year, prorated as applicable for any partial calendar year and subject to the terms of the Company's vacation policy. PTO is meant to include all vacation, personnel personal and sick days. You shall not be entitled to any additional PTO. You shall be compensated at the usual rate of base compensation for any PTO. You shall also be entitled to paid Company Holidays as generally given by the Company. Company Holidays are currently defined as as: New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and the day before after Thanksgiving Day, Christmas Eve and Christmas Day. PTO days may not be accumulated beyond the calendar year in which they are due, without the prior written consent of the Company.

Appears in 1 contract

Samples: Employment Agreement (Zion Oil & Gas Inc)

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