Vacation, Sick Leave, Recreation Payment Sample Clauses

Vacation, Sick Leave, Recreation Payment. Employee shall be entitled to an annual vacation of 14 (fourteen) days that may be accumulated and may be converted into cash payments in an amount equal to the proportionate part of the Basic Salary according to law. The times that vacation days are to be taken shall be decided by the company and as far as possible according to the request of the Employee. Employee shall be entitled to paid Sick Leave days according to law. The employee shall be entitled to Recreation Payment, for number of days in accordance with the law, to be paid at the end of each work year, in the amount per day according to law.
Sample 1
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Vacation, Sick Leave, Recreation Payment. 4.5.1. Until June 1, 2002, Employee shall be entitled to a paid annual vacation of twenty (20) days with respect to and during each twelve (12) month period of his employment hereunder (the "Vacation Days"). Thereafter, Employee shall be entitled to additional one (1) Vacation Day per each year of employment with the Company, up to the maximum number of Vacation Days prescribed under law. Employee may accumulate Vacation Days, subject to applicable law and the Company's written consent. The Company, at its discretion, shall be entitled to pay Employee, subject to applicable law, the value of unused Vacation Days, calculated pro-rata on the basis of the Salary (including the payment for the Manager's Insurance and for the Fund), in lieu of the usage of the Vacation Days. 4.5.2. Employee shall be entitled to Recuperation Pay according to applicable law. 4.5.3. Employee shall be entitled to sick leave according to applicable law, upon demonstration to the Company of appropriate medical documentation thereof. Sick leave days may not be accumulated or redeemed. Payment by the Company of sick leave days due to Employee in connection with disability payments shall be set-off against payments received by Employee pursuant to subsection 4.3 above. 4.6.
Sample 1
Vacation, Sick Leave, Recreation Payment. 4.5.1. Until October 1, 2003, Employee shall be entitled to a paid annual vacation of sixteen (16) days with respect to and during each twelve (12) month period of his employment hereunder (the "Vacation Days"). Thereafter, Employee shall be entitled to additional one (1) Vacation Day per each year of employment with the Company. Employee may accumulate Vacation Days, subject to applicable law and the Company's written consent. The Company, at its discretion, shall be entitled to pay Employee, subject to applicable law, the value of unused Vacation Days, calculated pro-rata on the basis of the Salary (including the payment for the Manager's Insurance and for the Fund), in lieu of the usage of the Vacation Days. 4.5.2. Employee shall be entitled to Recuperation Pay according to applicable law. 4.5.3. Employee shall be entitled to sick leave according to applicable law, upon demonstration to the Company of appropriate medical documentation thereof. Sick leave days may not be accumulated or redeemed. Payment by the Company of sick leave days due to Employee in connection with disability payments shall be set-off against payments received by Employee pursuant to subsection 4.3 above. 4.6.
Sample 1

Related to Vacation, Sick Leave, Recreation Payment

  • 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 and Sick Leave At such reasonable times as the Board of Directors shall in its discretion permit, the Employee shall be entitled, without loss of pay, to absent himself voluntarily from the performance of his employment under this Agreement, with all such voluntary absences to count as vacation time; provided that:

  • 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.

  • Vacations and Sick Leave The Executive shall be entitled to paid annual vacation leave in accordance with the policies as established from time to time by the Board of Directors, which shall in no event be less than four weeks per annum. The Executive shall also be entitled to an annual sick leave benefit as established by the Board for senior management employees of the Bank. The Executive shall not be entitled to receive any additional compensation from the Bank for failure to take a vacation or sick leave, nor shall he be able to accumulate unused vacation or sick leave from one year to the next; provided, however, such Executive may carry forward from year to year a maximum of ten days of unused vacation leave.

  • 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.

  • 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.

  • Sick Leave Executive shall be entitled to sick leave and emergency leave according to the regular policies and procedures of Company. Additional sick leave or emergency leave over and above paid leave provided by the Company, if any, shall be unpaid and shall be granted at the discretion of the board of directors.

  • 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.

  • Vacation, Holidays and Sick Leave During the Term, the Executive shall be entitled to paid vacation, paid holidays and sick leave in accordance with the Company's standard policies for its senior executive officers.

  • Vacation Pay In consideration of all payments made by the Company to the Executive pursuant to this Agreement, the Executive hereby waives any claim he may have for accrued and unpaid vacation pay as of the Termination Date.

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