Vacation Upon Termination. (a) When an employee retires, is removed from the payroll, terminates his employment, or is laid off, the Company will either give the employee his vacation that he would be entitled to take during the year prior to the termination of his employment or, in lieu of vacation, pay the employee, or his beneficiary, as the case may be, as of the date of termination of his employment, the amount of vacation pay that the employee would have received if he had taken his vacation during the period of his employment with the Company.
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Vacation Upon Termination. (a1) When an employee retires, is removed from the payroll, terminates his employment, or is laid off, the Company will either give the employee his vacation that he would be entitled to take during the year prior to the termination of his employment or, in lieu of vacation, pay the employee, or his beneficiary, as the case may be, as of the date of termination of his employment, the amount of vacation pay that the employee would have received if he had taken his vacation during the period of his employment with the Company.
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