Example ContractsClausesAccrued Salary and Paid Time Off
Remove:

Accrued Paid Time Off. On or before the next regular payroll date following the Separation Date, Employee shall receive payment for five weeks of paid time off (PTO), less any PTO actually taken between and the Separation Date.

ACCRUED SALARY AND PAID TIME OFF. On the Separation Date, the Company will pay you all accrued salary, and all accrued and unused vacation/paid time off earned through the Separation Date, subject to standard payroll deductions and withholdings. You are entitled to these payments by law.

Paid Time Off. During the Employment Period, Executive shall be entitled to such paid time off as may be determined in accordance with the personnel policies of Penns Woods from time to time in effect. Executive shall not be entitled to receive any additional compensation for failure to take all of his entitled paid time off, nor shall Executive be able to accumulate unused paid time off from one year to the next, unless otherwise provided by the personnel policies of Penns Woods from time to time in effect.

Paid Time Off. Employee will receive 25 days of paid time off (“PTO”) (including vacation, sick, personal time off and company holidays) per calendar year, which shall be taken in accordance with Company policies as in effect from time to time, which may be modified in the sole discretion of the Company, and applicable law. The Company will additionally provide Employee with any paid or unpaid leave and any other benefits to which Employee is entitled and eligible to receive under applicable federal, state, and or local law.

Paid Time Off. During the Employment Period, the Executive shall be entitled to paid time off in accordance with the most favorable plans, policies, programs and practices of the Company and its affiliated companies as in effect for the Executive at any time during the 120‑day period immediately preceding the Change of Control Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies.

Paid Time Off. During the Term, in addition to holidays observed by the Company, Executive shall be entitled to take such paid time off (“PTO”) in his discretion, so long as it does not interfere with his effective performance of his duties and responsibilities hereunder.

Payment of Salary and Receipt of All Benefits. Employee acknowledges and represents that, other than the consideration set forth in this Agreement, the Company Group has paid or provided all salary, wages, bonuses, accrued vacation/paid time off, premiums, leaves, housing allowances, relocation costs, interest, severance, outplacement costs, fees, reimbursable expenses, commissions, stock, stock options, equity awards, vesting, and any and all other benefits and compensation due to Employee.

Accrued Salary and Vacation. On the Termination Date, will pay Smathers all accrued salary, and all accrued and unused vacation earned through the Termination Date, subject to standard deductions and withholdings. Smathers is entitled to such a payment upon the cessation of his employment, regardless of whether or not he signs this Agreement.

Accrued Benefits. The has: # paid Employee for Employee’s accrued base salary and accrued paid time off through the Termination Date # reimbursed Employee for any incurred business expenses through the Termination Date, and # provided or will provide the right to purchase benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) (but not the benefit to be reimbursed for such costs) and any other compensation or benefits required by applicable law (collectively, the “Accrued Benefits”). In addition, subject to the execution of this Agreement, the will pay any additional amounts as specified in the Employment Agreement.

/

Subject to applicable state wage laws, any accrued but unused paid time off at the time of termination shall be paid as a lump sum payment following a Participant’s Termination Date.

Except as otherwise required by law (e.g., COBRA) or as specifically provided herein, all of the Employee’s rights to salary, fringe benefits and bonuses hereunder (if any) accruing after the Termination Date shall cease upon the Termination Date. Under no circumstances will the Employee be entitled to payment for accrued and unused paid time off upon the termination of the Employment Period.

Section # Accrued Time Off. shall recognize and assume all liability for all vacation, holiday, sick leave, flex days, personal days and paid-time off with respect to Employees, and shall credit each Employee with such accrual.

performance percentage under the Company’s Annual Incentive Bonus Program (200%), and # any accrued paid time off, to the extent not theretofore used or paid (the sum of the amounts described in [clauses (1), (2), and (3)])])] shall be hereinafter referred to as the “Accrued Obligations”); and

Payments of Accrued Obligations upon all Terminations of Employment. Upon a termination of Executive’s employment for any reason, Executive (or Executive’s estate or legal representative, as applicable) shall be entitled to receive, within 30 days after Executive’s Date of Termination (or such earlier date as may be required by applicable law): # any portion of Executive’s Annual Base Salary earned through Executive’s Date of Termination not theretofore paid, # any expenses owed to Executive under [Section 3], # any accrued but unused paid time off owed to Executive, solely to the extent applicable under the Company’s paid time off policies; # any Annual Bonus earned but unpaid as of the Date of Termination, and # any amount arising from Executive’s participation in, or benefits under, any employee benefit plans, programs, or arrangements under [Section 3], which amounts shall be payable in accordance with the terms and conditions of such employee benefit plans, programs, or arrangements. Except as otherwise set forth in [Sections 6(b) and (c)])], the payments and benefits described in this [Section 6(a)] shall be the only payments and benefits payable in the event of Executive’s termination of employment for any reason.

In the event Employee resigns voluntarily at any time during the Term, Employee shall be paid his salary and accrued vacation pay earned as of the date of resignation. Employee’s eligibility for benefits other than earned pay and vacation payout, if any, shall be determined according to then applicable plan documents and applicable law. Employee shall not be entitled to salary or accrued vacation that he would have earned for the balance of the Term or a Retention Bonus.

Vacation. Employee shall be entitled to receive two weeks’ vacation time during each year of employment upon dates agreed upon by Employer. Upon separation of employment, for any reason, vacation time accrued and not used shall be paid at the salary rate of Employee in effect at the time of employment separation.

Select clause to view document information.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.