Common use of VACATION TIME AND SICK LEAVE Clause in Contracts

VACATION TIME AND SICK LEAVE. Employee shall be entitled to (4) weeks of vacation and fifteen (15) days of sick leave without loss of compensation each year during the Employment Term. For the purposes of this paragraph, a year shall begin on the effective date of this Restated Agreement as set forth above. In the event that Employee takes vacation time or sick leave in excess of the minimum numbers set forth in this paragraph, the Board of Directors shall determine whether or not Employee shall receive compensation for such excess days. Unless otherwise established by the Company's Board of Directors, in the event that Employee does not for any reason take the total amount of vacation time authorized during any year, he shall be deemed to have waived any entitlement to vacation time for that year. Sick days may not be accumulated.

VACATION TIME AND SICK LEAVE. Employee shall be entitled to four (4) weeks of vacation and fifteen (15) days of sick leave without loss of compensation each year during the Employment Term. For the purposes of this paragraph, a year shall begin on the effective date of this Restated Agreement as set forth above. In the event that Employee takes vacation time or sick leave in excess of the minimum numbers set forth in this paragraph, the Board of Directors shall determine whether or not Employee shall receive compensation for such excess days. Unless otherwise established by the Company's Board of Directors, in the event that Employee does not for any reason take the total amount of vacation time authorized during any year, he shall be deemed to have waived any entitlement to vacation time for that year. Sick days may not be accumulated.

VACATION TIME AND SICK LEAVE. Employee shall be entitled to ten (410) weeks days of vacation and fifteen five (155) days of sick leave without loss of compensation each year during the Employment Term. For the purposes of this paragraph, a year shall begin on the effective date of this Restated Agreement as set forth above. In the event that Employee takes vacation time or sick leave in excess of the minimum numbers set forth in this paragraph, the Board of Directors shall determine whether or not Employee shall receive compensation for such excess days. Unless otherwise established by the Company's Board of Directors, in the event that Employee does not for any reason take the total amount of vacation time authorized during any year, he shall be deemed to have waived any entitlement to vacation time for that year. Sick days may not be accumulated.