Untaken Vacation Time. Every twelve (12) months, the Employee may, at his election: (i) subject to applicable law, accumulate the untaken vacation time to which he is entitled until that date, for use in the two subsequent years; or (ii) receive the Base Salary payable with respect to any unused vacation days not taken until that date.
Untaken Vacation Time. Every twelve (12) months, the Executive may, at his election: (i) subject to applicable law, accumulate the untaken vacation time to which he is entitled until that date, for use in the two subsequent years; or (ii) receive the Base Salary payable with respect to any unused vacation days not taken until that date.
