Holidays Contract Clauses (63)

Holidays. The CFO is covered by the Holiday Act. The CFO is entitled to holiday with pay and to holiday supplements according to the Holiday Act applicable from time to time. 12.2. The CFO is entitled to 5 five discretionary holidays per holiday year. The discretionary holidays will be granted proportionately in case of commencement of service during the holiday year. Discretionary holidays must be taken as full days off and must be scheduled as per agreement with the Company. Any discretionary holidays n...ot taken cannot be transferred to the subsequent holiday year and will lapse without compensation at the end of the holiday year or on severance of service. View More

Holidays. Holidays are earned and held in accordance with the rules of the Holidays Act equivalent to 5 weeks annually. The CFO is also entitled to 5 days of special holidays every year. The special holiday allowance under the Holidays Act is paid by 1.5% and includes with the same percentage in the calculation of holiday pay on resignation. 2 7.2. The CFO will plan the holiday himself but is obligated to take the Company's best interests into account. The CFO must notify the CEO of the planned holiday. 7....3. Upon resignation, the CFO is entitled to a 12.5% holiday allowance. The holiday allowance is paid in cash upon resignation along with the last salary payment. View More