Vacation Leave and Paid Time Off. Executive will be entitled to paid vacation time each year during the Term measured on a calendar year basis, in accordance with the Bank’s customary practices, as well as sick leave, holidays and other paid absences in accordance with the Bank’s policies and procedures for officers, provided, however, that Executive shall be entitled to no more than 25 working days for paid vacation or paid time off days each calendar year (excluding bank holidays). Any unused paid time off during an annual period will be treated in accordance with the Bank’s personnel policies as in effect from time to time.
Vacation Leave and Paid Time Off. The DDA will not provide Employee with any Vacation Leave. The DDA will, however, provide the Employee with Paid Time Off (“PTO”) pursuant to the following:
Vacation Leave and Paid Time Off. All accrued unused vacation leave, sick-leave days and paid time off with respect to former employees of Sellers who are employed by Purchasers to the extent included in Net Working Capital. Purchasers shall permit former employees of Sellers to use (or be paid the vested portions of) such accrued unused vacation leave, sick-leave days and paid time off on substantially the same terms and conditions as such employees are permitted to use (or be paid the vested portions of) them while employed by Sellers, provided that nothing shall prevent Purchasers from debiting vacation, sick-leave and paid time off taken by employees against amounts accumulated prior to Closing before debiting them against amounts that shall continue to accumulate in the normal course of Purchasers' business after Closing.
