Vacation Premium Sample Clauses

Vacation Premium. During the Term of Employment, the Executive shall receive additional compensation in an amount equal to the product of fifty percent (50%) of the daily Base Salary and the number of vacation days accrued per year during the vacation period per year, payable on October 1 of each year.
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Vacation Premium. In addition, the Company shall pay a 70% vacation premium, calculated on the total amount of days’ base salary that the Employee is entitled to for the vacation period.
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Vacation Premium. ‌ Employees who have earned full vacation rights for the next year working for the same employer and are still employed in the last week of April or the first week of May shall be paid a lump sum, a vacation premium, either before using their vacation rights or otherwise no later than 15 August. The premium is, from 1 May 2000, ISK 9,400 for full time work or otherwise proportionate to work longevity and ratio. Work ratio is proportionate to customary working hours, although not exceeding 40 hours per week for clerks (39.5 from 1 October 2000) and 38 hours per week for office workers (37.5 from 1 October 2000). Full-time work is here defined as 45 working weeks or more excluding vacations. The vacation premium is a fixed amount and does not alter according to other provisions. Vacation premium rates are as follows: From 1 May 2000 ISK 9,400 From 1 May 2001 ISK 15,000 (acc. to contract, VR/SA 7 March 2001) From 1 May 2002 ISK 15,300 (acc. to contract, VR/SA 7 March 2001) From 1 May 2003 ISK 15,400 (acc. to contract, VR/SA 7 March 2001) An employee who stops working due to age or after 12 consecutive weeks with the same company shall at time of termination be paid a vacation premium for time earned proportionate to work longevity and ratio in that year. The same rule applies when the employee is on sickness leave after the employer's paying obligation ends or, in the case of maternity/paternity leaves, for up to 6 months. Vacation premium does not include rights for vacation pay.
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Related to Vacation Premium

  • Vacation; Paid Time Off During the Employment Term, the Executive shall be entitled to fifteen (15) paid vacation days per calendar year (prorated for partial years) in accordance with the Company’s vacation policies, as in effect from time to time that is at least as favorable as that provided to other similarly situated executives of the Company. The Executive shall receive other paid time-off in accordance with the Company’s policies for executive officers as such policies may exist from time to time.

  • Vacation Pay (d) Paid Union leaves. All other payments, premiums, allowances etc. are excluded.

  • Vacation; Sick Leave During the Employment Term, the Executive shall be entitled to not less than four (4) weeks of vacation during each calendar year and sick leave in accordance with the Company’s policies and practices with respect to its executives.

  • Vacation During the Employment Period, the Executive shall be entitled to paid vacation in accordance with the most favorable plans, policies, programs and practices of the Company and its affiliated companies as in effect for the Executive at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies.

  • Over-Allowance Amount The amount that is equal to the difference between (i) the amount of the Cost Proposal and (ii) the amount of the TI Allowance (less any portion thereof already disbursed by Landlord, or in the process of being disbursed by Landlord, on or before the Cost Proposal Delivery Date that is not otherwise included within the Cost Proposal) shall be referred to herein as the "Over-Allowance Amount." Tenant shall pay to Landlord (a) one-half (1/2) of such Over-Allowance Amount no later than ten (10) days after the Cost Proposal Delivery Date and (b) the other one-half (1/2) of such Over-Allowance Amount within ten (10) days after Landlord gives Tenant written notice that the construction of the Tenant Improvements is completed. The Over-Allowance Amount shall be disbursed by Landlord prior to the disbursement of any then remaining portion of the TI Allowance, and such disbursement shall be pursuant to the same procedure as the TI Allowance. In the event that after the Cost Proposal Delivery Date, any revisions, changes, or substitutions shall be made to the Construction Drawings or the Tenant Improvements, any additional costs which arise in connection with such revisions, changes or substitutions shall be paid by Tenant to Landlord as an addition to the Over-Allowance Amount as follows: (1) one-half (1/2) of such additional amount within five (5) days after Landlord's invoice therefor and (2) the remaining one-half (1/2) of such additional amount within five (5) days following Tenant's receipt of Landlord's written notice that the work to which the change order applies is complete. In addition, upon Landlord's determination of the actual costs incurred by or on behalf of Landlord for the TI Allowance Items, Tenant shall pay Landlord the amount, if any, by which such actual costs exceed the sum of the TI Allowance and the Over-Allowance Amount within fifteen (15) days after being billed therefor, or Landlord may, at its election, require that Tenant deposit with Landlord the full amount of such excess prior to Landlord's delivery of the Expansion Space to Tenant. No portion of the TI Allowance shall be used to pay Tenant or Tenant's agents, contractors or employees, unless and until Landlord's contractors and any other persons and entities employed by or under contract with Landlord have been paid in full.

  • Vacation, Sick Leave and Holidays Executive shall be entitled to four (4) weeks (28 business days) of vacation, and also sick leave and holidays at full pay in accordance with the Company’s policies established and in effect from time to time.

  • Vacation; Benefits During the Term, the Executive shall be eligible for 20 vacation days annually, which shall be accrued and used in accordance with the applicable policies of the Company. During the Term, the Executive shall be eligible to participate in such medical, dental and life insurance, retirement and other plans as the Company may have or establish from time to time on terms and conditions applicable to other senior executives of the Company generally. The foregoing, however, shall not be construed to require the Company to establish any such plans or to prevent the modification or termination of such plans once established.

  • Accrued Vacation It is further agreed by the parties hereto that, upon sale or transfer of ownership of any store or upon dissolution of business, vacation pay for all months worked for which no vacation pay has been given shall be immediately paid to all employees coming under this Agreement, regardless of length of time said employee has been with the Employer.

  • Accrued Salary and Paid Time Off On the Separation Date, the Company will pay you all accrued salary, and all accrued and unused vacation earned through the Separation Date, subject to standard payroll deductions and withholdings. You are entitled to these payments by law.

  • Accrued Salary and Vacation On the Separation Date, the Company will pay you all accrued salary and all accrued and unused vacation earned through the Separation Date, subject to standard payroll deductions and withholdings. You will receive these payments regardless of whether or not you sign this Agreement.

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