UNUSED VACATION definition

UNUSED VACATION. All unused or carried over vacation time accumulated in the year of termination after an employee's first anniversary date, up to and including the employee's last day worked, shall be paid at termination of employment, at the employee's current base rate. This does not apply to the vacation bonus when the employee has not completed the minimum service specified. It is understood that employees may not carry vacation time over to the following year without the written consent of the Company.
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UNUSED VACATION means those hours of "time off with pay" (TOWP) or vacation fringe benefit hours accumulated to the benefit account of the eligible Employee of the beginning of a plan year in which compensation is deferred. Unused vacation hours will be converted to compensation at the employee's hourly base pay rate for the year previous to the plan year.
Sample 1
UNUSED VACATION means the balance of 60 vacation days (the amount of vacation days that have previously been earned by you which you presently have not used) less the number of such aforementioned vacation days hereafter used by you prior the termination or expiration of your agreement with Acclaim. Please sign this agreement below to indicate your agreement with and acceptance of the terms set forth above. Very truly yours, ACCLAIM ENTERTAINMENT, INC. By /s/ ------------------------------------------ Name: Xxxxxxx X. Xxxxxxxxx Title: President and Chief Executive Officer Agreed to and Accepted: /s/ ------------------------------ XXXX XX
Sample 1

Examples of UNUSED VACATION in a sentence

  • ONE WEEK OF UNUSED VACATION MAY BE CARRIED OVER (ACCRUED) INTO THE FOLLOWING YEAR.

  • If during the Term the Executive resigns for Good Reason or is terminated without Cause: THE COMPANY WILL PAY EXECUTIVE (A) HIS SALARY AND UNUSED VACATION PAY THROUGH THE LAST DAY OF HIS EMPLOYMENT WITH THE COMPANY, (B) HIS UNPAID REIMBURSABLE BUSINESS EXPENSES INCURRED BY HIM THROUGH THE LAST DAY OF HIS EMPLOYMENT WITH THE COMPANY.

  • UP TO 2 WEEKS OF ANY UNUSED VACATION ENTITLEMENT FROM A GIVEN YEAR MAY BE CARRIED OVER INTO THE IMMEDIATELY SUBSEQUENT YEAR.

  • YOU WILL ALSO RECEIVE PAYMENT FOR ANY ACCRUED BUT UNUSED VACATION TIME YOU HAVE ACCUMULATED FOR PRIOR YEAR ALLOCATIONS TO A MAXIMUM OF 30 DAYS, PLUS EARNED BUT UNUSED VACATION ALLOCATIONS FOR THE CURRENT YEAR.

  • Employee will receive AN ADDITIONAL AMOUNT REPRESENTING ACCRUED AND UNUSED VACATION THROUGH THE DATE OF EMPLOYEE'S SEPARATION.

  • THE EXECUTIVE WILL RECEIVE PAYMENT FOR ACCRUED BUT UNUSED VACATION, WHICH PAYMENT WILL BE EQUITABLY PRORATED BASED ON THE PERIOD OF ACTIVE EMPLOYMENT FOR THAT PORTION OF THE FISCAL YEAR IN WHICH THE EXECUTIVE'S TERMINATION OF EMPLOYMENT BECOMES EFFECTIVE.

  • UPON DELIVERY OF SUCH NOTICE THE COMPANY MAY, IN ITS SOLE DISCRETION, GIVE THE TERMINATION IMMEDIATE OR SUCH EARLIER EFFECT AS IT SPECIFIES BY PAYING TO EMPLOYEE IN A LUMP SUM ANY SALARY THAT WOULD BE PAYABLE BETWEEN SUCH DATE AND THE DATE OF TERMINATION STATED IN THE NOTICE, BUT IN NO EVENT MORE THAN ONE MONTH'S SALARY, PLUS OUTSTANDING EXPENSES AND ANY ACCRUED BUT UNUSED VACATION, LESS ANY DEDUCTIONS REQUIRED BY LAW OR AUTHORIZED BY EMPLOYEE.

  • PAYMENT FOR ACCRUED BUT UNUSED VACATION WILL BE PAYABLE IN ONE LUMP SUM ON THE EFFECTIVE DATE OF THE TERMINATION OF EMPLOYMENT (OR AS SOON THEREAFTER AS PRACTICABLE).

  • IF EITHER PARTY SERVES THE OTHER WITH NOTICE OF TERMINATION OF THIS AGREEMENT, THE COMPANY MAY REQUIRE EXECUTIVE TO TAKE ANY ACCRUED BUT UNUSED VACATION ENTITLEMENT DURING THE NOTICE PERIOD.

  • SELLER SHALL OTHERWISE INDEMNIFY AND HOLD PURCHASER HARMLESS, TO THE EXTENT PURCHASER IS NOT OTHERWISE LIABLE, ON ACCOUNT OF ANY CLAIM BY ANY BUSINESS EMPLOYEES WITH RESPECT TO ANY AMOUNTS OWED TO SUCH BUSINESS EMPLOYEES FOR SEVERANCE OR UNUSED VACATION AND SICK LEAVE EARNED AS OF THE CLOSING DATE.


More Definitions of UNUSED VACATION

UNUSED VACATION for the avoidance of doubt, Xxxxx will be paid on or before February 29, 2004 for any earned but unused vacation as of December 31, 2003. Xxxxx'x Initials /s/ DK ------------
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Related to UNUSED VACATION

  • Vacation means annual vacation with pay.

  • Vacation Year means the twelve (12) month period commencing on the first (1st) day of April in each calendar year and concluding on the thirty-first (31st) day of March of the following calendar year.

  • Weeks Pay' means the ordinary time rate of pay for the employee concerned:

  • Unused means the Insured’s financial Loss of any whole, partial or prorated prepaid nonrefundable components of a Trip that are not depleted or exhausted, including award travel expenses.

  • Sick Leave means the period of time an employee is absent from work with or without pay, by virtue of sickness, quarantine, or accident, or out-of-town medical/dental referrals for which compensation is not payable under the Worker's Compensation Act.

  • Week means seven consecutive days.

  • Holidays shall be deemed to mean and include New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day.

  • Bonus Period means the period for which a Bonus is payable. Unless otherwise specified by the Board, the Bonus Period shall be the fiscal year of the Company.

  • Unused Portion has the meaning assigned to that term in Section 2.09(a).

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one day prior to the Change in Control, and (ii) the Average Incentive Bonus.

  • Paid sick leave – means paid leave under the Emergency Paid Sick Leave Act.

  • Unused Amount means the Maximum Line reduced by outstanding Revolving Advances. The Borrower agrees to pay to the Lender an unused line fee at the rate of one-half of one percent (0.5%) per annum on the average daily Unused Amount from the date of this Agreement to and including the Termination Date, due and payable monthly in arrears on the first day of the month and on the Termination Date.

  • Annual Salary means the salary given under this Part.

  • Earned Bonus means the bonus paid, if any, pursuant to the Company’s incentive compensation plans in effect from time to time. Earned Bonus shall be prorated based on the ratio of the number of days during such year that Executive was employed to 365.

  • Compensatory time off means authorized time off earned by or awarded to an employee to compensate in whole or in part for time worked in excess of the minimum work time required of that employee as a condition of his or her employment.

  • Cash Bonus means an award of a bonus payable in cash pursuant to Section 10 hereof.

  • Weeks pay means the rate of pay for the employee concerned at the date of termination, and shall include in addition to the ordinary pay any over- agreement payments and the following, if applicable:

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Annual Base Salary shall have the meaning set forth in Section 3(a).

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

  • Annual Bonus shall have the meaning set forth in Section 4(b) hereof.

  • Paid leave means time away from work by an employee for which the employee receives compensation, and is limited to sick time, vacation time, compensatory time and leave that is provided as an aggregate amount for use at the discretion of the employee for any of these same purposes. "Paid leave" does not include paid short-term or long-term disability, catastrophic leave or similar types of benefits.[PL 2005, c. 455, §1 (NEW).]

  • Annual leave and Clause 6.3 “Personal (Sick) Leave” of this Agreement.