Common use of Reimbursement of Expenses; Vacation Clause in Contracts

Reimbursement of Expenses; Vacation. Executive shall be provided with reimbursement of expenses related to Executive’s employment by the Company on a basis no less favorable than that which may be authorized from time to time by the Board, in its sole discretion, for senior level executives as a group. Executive shall be entitled to vacation and holidays in accordance with the Company’s normal personnel policies for senior level executives, but not less than two (2) weeks of vacation per calendar year, provided Executive shall not utilize more than ten (10) consecutive business days without the express consent of the Board of Directors. Unused vacation time will be forfeited as of December 31 of each calendar year of the Employment Term.

Appears in 4 contracts

Samples: Executive Employment Agreement (MaryJane Group, Inc.), Executive Employment Agreement (Pladeo Corp.), Executive Employment Agreement (Pladeo Corp.)

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Reimbursement of Expenses; Vacation. Executive shall be provided with reimbursement of expenses related to Executive’s employment by the Company on a basis no less favorable than that which may be authorized from time to time by the Board, in its sole discretion, for senior level executives as a group. Executive shall be entitled to vacation and holidays in accordance with the Company’s normal personnel policies for senior level executives, but not less than two four (24) weeks of vacation per calendar year, provided Executive shall not utilize more than ten (10) consecutive business days without the express consent of the Board of Directors. Unused vacation time will be forfeited as of December 31 of each calendar year of the Employment Term.

Appears in 1 contract

Samples: Executive Employment Agreement (BioMETRX)

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