Common use of Vacation Payment Clause in Contracts

Vacation Payment. A lump sum cash payment in an amount equal to his earned, but not taken, vacation days through the date of Executive’s Covered Termination, subject to applicable withholding for income and employment taxes. Such vacation payment shall be paid as soon as practicable following his Covered Termination date in accordance with the Company’s normal payroll policies and practices.

Vacation Payment. A lump sum cash payment in an amount equal to his earned, but not taken, vacation days through the date of Executive’s Covered Termination, subject to applicable withholding for income and employment taxes. Such vacation payment shall be paid as soon as practicable following his Covered Termination date in accordance with the Company’s normal payroll policies and practicesdate.