Common use of Payment of Wages and Accrued Vacation Clause in Contracts

Payment of Wages and Accrued Vacation. In the event of your Involuntary Termination, the Company shall pay to you within five (5) days of the date of such Involuntary Termination, or such earlier date as may be required by applicable law, the full amount of any earned but unpaid base salary through the Date of Termination at the rate in effect at the time of the Notice of Termination, plus a cash payment (calculated on the basis of your Reference Salary) for all unused vacation time which you have accrued as of the Date of Termination.

Payment of Wages and Accrued Vacation. In the event of your Involuntary Termination, the Company shall pay to you within five (5) days of the date of such Involuntary Termination, or such earlier date as may be required by applicable law, Termination the full amount of any earned but unpaid base salary through the Date of Termination at the rate in effect at the time of the Notice of Termination, plus a cash payment (calculated on the basis of your Reference Salary) for all unused vacation time which you have accrued as of the Date of Termination.