Common use of Time Off With Pay Clause in Contracts

Time Off With Pay. The Executive shall be immediately credited with 20 days of accrued paid time off as of the Effective Date. In addition, the Executive will accrue at least 4 weeks vacation per year of service.

Time Off With Pay. The Executive shall be immediately credited with 20 days of accrued paid time off as of the Effective Date. In addition, the Executive will accrue at least 4 weeks vacation 3.54 hours of paid time off per week of service, or 23 days of paid time off per year of service. Accrued time off may be used or exchanged for a cash payment equal to an equivalent amount of Base Salary by the Executive at any time, and upon termination of employment the Executive shall be paid the accrued paid time off based upon his then-current Base Salary.

Time Off With Pay. The Executive shall be immediately credited ----------------- with 20 days of accrued paid time off as of the Effective Date. In addition, the Executive will accrue at least 4 weeks vacation 3.54 hours of paid time off per week of service, or 23 days of paid time off per year of service. Accrued time off may be used or exchanged for a cash payment equal to an equivalent amount of Base Salary by the Executive at any time, and upon termination of employment the Executive shall be paid the accrued paid time off based upon his then-current Base Salary.