Common use of Vacation Time and Other Benefits Clause in Contracts

Vacation Time and Other Benefits. Executive shall be entitled to three (3) weeks of vacation without loss of compensation each year during the Employment Period. For the purposes of this Section 4.6, a year shall begin on January 1, 2009. Vacation will be taken at such times as Executive and the Chief Executive Officer shall mutually determine and provided that no vacation time shall interfere with the duties required to be rendered by Executive hereunder. Notwithstanding the foregoing, as an officer of Company, Executive is expected to utilize his vacation time judiciously and so as not to jeopardize the business of the Company. Unused vacation may not be carried forth to the next calendar year without prior written consent by the Chief Executive Officer, except that no written consent is required for carrying over a maximum of seven (7) days to any subsequent year.

Appears in 1 contract

Samples: Executive Employment Agreement (Lapolla Industries Inc)

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Vacation Time and Other Benefits. Executive shall be entitled to three (3) weeks of vacation without loss of compensation each year during the Employment Period. For the purposes of this Section 4.64.5, a year shall begin on January 1, 20092008. Vacation will be taken at such times as the Executive and the Chief Executive Officer Corporation shall mutually determine and provided that no vacation time shall interfere with the duties required to be rendered by Executive hereunder. Notwithstanding the foregoing, as an officer of CompanyCorporation, Executive is expected to utilize his vacation time judiciously and so as not to jeopardize the business of the CompanyCorporation. Unused vacation may not be carried forth to the next calendar year without prior written consent by the Chief Executive OfficerCorporation, except that no written consent is required for carrying over a maximum of seven five (75) days to any subsequent year. Additionally, if the Company is profitable for the 2008 calendar year, then Executive will be provided a “No Cost” vehicle by the Company for the remainder of the Employment Term.

Appears in 1 contract

Samples: Executive Employment Agreement (Lapolla Industries Inc)

Vacation Time and Other Benefits. Executive shall be entitled to three (3) weeks of vacation without loss of compensation each year during the Employment Period. For the purposes of this Section 4.6, a year shall begin on January 1, 20092005. Vacation will be taken at such times as the Executive and the Chief Executive Officer Corporation shall mutually determine and provided that no vacation time shall interfere with the duties required to be rendered by Executive hereunder. Notwithstanding the foregoing, as an officer of CompanyCorporation, Executive is expected to utilize his vacation time judiciously and so as not to jeopardize the business of the CompanyCorporation. Unused vacation may not be carried forth to the next calendar year without prior written consent by the Chief Executive OfficerCorporation, except that no written consent is required for carrying over a maximum of seven (7) days to any subsequent year.

Appears in 1 contract

Samples: Executive Employment Agreement (Ift Corp)

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Vacation Time and Other Benefits. Executive shall be entitled to three (3) weeks of vacation without loss of compensation each year during the Employment Period. For the purposes of this Section 4.6, a year shall begin on January 128, 20092005. Vacation will be taken at such times as the Executive and the Chief Executive Officer Corporation shall mutually determine and provided that no vacation time shall interfere with the duties required to be rendered by Executive hereunder. Notwithstanding the foregoing, as an officer of CompanyCorporation, Executive is expected to utilize his vacation time judiciously and so as not to jeopardize the business of the CompanyCorporation. Unused vacation may not be carried forth to the next calendar year without prior written consent by the Chief Executive OfficerCorporation, except that no written consent is required for carrying over a maximum of seven (7) days to any subsequent year.

Appears in 1 contract

Samples: Executive Employment Agreement (Ift Corp)

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