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.
Appears in 20 contracts
Samples: Employment Agreement (Kearny Financial Corp.), Employment Agreement (Kearny Financial Corp.), Employment Agreement (Kearny Financial Corp.)
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 Savings Bank. The Executive shall not be entitled to receive any additional compensation from the Savings 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 except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 13 contracts
Samples: Employment Agreement (Eureka Financial Corp.), Employment Agreement (Eureka Financial Corp.), Employment Agreement (Eureka Financial Corp.)
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 except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 10 contracts
Samples: Employment Agreement (Teche Holding Co), Employment Agreement (Skibo Financial Corp), Employment Agreement (Thistle Group Holdings Co)
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.
Appears in 8 contracts
Samples: Employment Agreement (GCF Bancorp Inc), Employment Agreement (GCF Bancorp Inc), Employment Agreement (GCF Bancorp Inc)
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 Savings Bank. The Executive shall not be entitled to receive any additional compensation from the Savings 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 except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 4 contracts
Samples: Employment Agreement (American Financial Group Inc), Employment Agreement (American Bancorp of New Jersey Inc), Employment Agreement (American Bancorp of New Jersey Inc)
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 Savings Bank. The Executive shall not be entitled to receive any additional compensation from at the Bank end of each calendar year based upon any vacation days that have been accrued for failure to take a vacation or sick leavesuch calendar year that have not been utilized by the Executive. At the discretion of the Board, nor shall he be able to accumulate unused vacation or accrued but unutilized sick leave from one year to may also be paid out as additional compensation at the next; provided, however, such Executive may carry forward from year to year a maximum end of ten days of unused vacation leaveeach year.
Appears in 4 contracts
Samples: Employment Agreement (Farnsworth Bancorp Inc), Employment Agreement (Farnsworth Bancorp Inc), Employment Agreement (Farnsworth Bancorp Inc)
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 of Directors for senior management employees of the BankCorporation. The Executive shall not be entitled to receive any additional compensation from the Bank Corporation 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 except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 4 contracts
Samples: Employment Agreement (Eureka Financial Corp.), Employment Agreement (Eureka Financial Corp.), Employment Agreement (Eureka Financial Corp.)
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 five 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 BankCompany. The Executive shall not be entitled to receive any additional compensation from the Bank Company 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.
Appears in 4 contracts
Samples: Employment Agreement (Kearny Financial Corp.), Employment Agreement (Kearny Financial Corp.), Employment Agreement (Kearny Financial Corp.)
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 five 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.
Appears in 4 contracts
Samples: Employment Agreement (Kearny Financial Corp.), Employment Agreement (Kearny Financial Corp.), Employment Agreement (Kearny Financial Corp.)
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 leaveleave in accordance with the prevailing policy of the Bank.
Appears in 3 contracts
Samples: Employment Agreement (Roma Financial Corp), Employment Agreement (Roma Financial Corp), Employment Agreement (Roma Financial Corp)
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 BankSavings Association. The Executive shall not be entitled to receive any additional compensation from the Bank Savings Association 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 except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 3 contracts
Samples: Employment Agreement (Floridafirst Bancorp), Employment Agreement (Floridafirst Bancorp), Employment Agreement (Steelton Bancorp Inc)
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 Savings Bank. The Executive shall not be entitled to receive any additional compensation from the Savings Bank for failure to take a vacation or sick leave, nor shall he she be able to accumulate unused vacation or sick leave from one year to the next; provided, however, such Executive may carry forward from year except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 3 contracts
Samples: Employment Agreement (Ridgewood Financial Inc), Employment Agreement (Ridgewood Financial Inc), Employment Agreement (Ridgewood Financial Inc)
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 BankAssociation. The Executive shall not be entitled to receive any additional compensation from the Bank Association 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 except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 3 contracts
Samples: Employment Agreement (First Kansas Financial Corp), Employment Agreement (First Kansas Financial Corp), Employment Agreement (First Kansas Financial Corp)
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 five 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.
Appears in 2 contracts
Samples: Employment Agreement (Gateway Community Financial Corp), Employment Agreement (Gateway Community Financial Corp)
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 BankParent. The Executive shall not be entitled to receive any additional compensation from the Bank Parent 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 except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 2 contracts
Samples: Employment Agreement (Teche Holding Co), Employment Agreement (Teche Holding Co)
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 Savings Bank. The Executive shall not be entitled to receive any additional compensation from the Savings Bank for failure to take a vacation or sick leave, nor shall he she be able to accumulate unused vacation or sick leave from one year to the next; provided, however, such Executive may carry forward from year except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 2 contracts
Samples: Employment Agreement (American Bancorp of New Jersey Inc), Employment Agreement (American Bancorp of New Jersey Inc)
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 five (5) 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 Savings Bank. The Executive shall not be entitled to receive any additional compensation from the Savings 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 except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 2 contracts
Samples: Employment Agreement (Bucs Financial Corp), Employment Agreement (Bucs Financial Corp)
Vacations and Sick Leave. The Executive shall be entitled to 75% of 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 annumDirectors or Chief Executive Officer with credit given for prior service at the Bank. The Executive shall also be entitled to 75% of an annual sick leave benefit as established by the Board or Chief Executive Officer 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 except to the extent authorized by the Chief Executive may carry forward from year to year a maximum of ten days of unused vacation leaveOfficer.
Appears in 2 contracts
Samples: Merger Agreement (Iberiabank Corp), Merger Agreement (Iberiabank Corp)
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 [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 BankParent. The Executive shall not be entitled to receive any additional compensation from the Bank Parent 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 except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 2 contracts
Samples: Employment Agreement (Farnsworth Bancorp Inc), Employment Agreement (Farnsworth Bancorp Inc)
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 three 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 and a maximum of fifty days of sick leave.
Appears in 2 contracts
Samples: Employment Agreement (Osage Bancshares, Inc.), Employment Agreement (Osage Bancshares, Inc.)
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 annumDirectors or Chief Executive Officer with credit given for prior service at the Bank. The Executive shall also be entitled to an annual sick leave benefit as established by the Board or Chief Executive Officer 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 she be able to accumulate unused vacation or sick leave from one year to the next; provided, however, such except to the extent authorized by the Chief Executive may carry forward from year to year a maximum of ten days of unused vacation leaveOfficer.
Appears in 2 contracts
Samples: Merger Agreement (Iberiabank Corp), Merger Agreement (Iberiabank Corp)
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 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 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 except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 2 contracts
Samples: Employment Agreement (Tri County Bancorp Inc), Employment Agreement (Tri County Bancorp Inc)
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 permitted to accumulate unused vacation or sick leave from one year to the next; provided, however, such Executive may carry forward from year except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 1 contract
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 shall, in no event event, be less than four five weeks per annum. In the event of termination of employment, Executive shall be paid for unused and accrued vacation at the then-current salary. 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 leaveCompany.
Appears in 1 contract
Samples: Employment Agreement (Synergy Financial Group Inc /Nj/)
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 (4) 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 Savings 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.
Appears in 1 contract
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 shall, in no event event, be less than four six (6) 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.
Appears in 1 contract
Samples: Employment Agreement (American Bancorp of New Jersey Inc)
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 five 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.
Appears in 1 contract
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 except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 1 contract
Samples: Employment Agreement (American Bancorp of New Jersey Inc)
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 two 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.
Appears in 1 contract
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 (4) 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.
Appears in 1 contract
Samples: Employment Agreement (American Bancorp of New Jersey Inc)
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.
Appears in 1 contract
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 shall, in no event event, be less than four six 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 leaveCompany.
Appears in 1 contract
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 six (6) 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 Savings 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.
Appears in 1 contract
Samples: Employment Agreement (American Financial Group Inc)
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 three 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 except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 1 contract
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 three 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 BankCompany. The Executive shall not be entitled to receive any additional compensation from the Bank Company for failure to take a vacation or sick leave, nor however the Executive shall he be able permitted 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 next at the discretion of ten days the Board of unused vacation leaveDirectors.
Appears in 1 contract
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 she be able to accumulate unused vacation or sick leave from one year to the next; provided, however, such Executive may carry forward from year except to year a maximum the extent authorized by the Board of ten days of unused vacation leaveDirectors.
Appears in 1 contract
Samples: Employment Agreement (American Bancorp of New Jersey Inc)
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 and a maximum of fifty days of sick leave.
Appears in 1 contract