Executive shall be eligible for 4 weeks of paid vacation that includes 1 week Christmas holidays as provided to similarly situated employees under the Company ' s policy, if there is one, or other policies in place, which vacation time shall be taken at such time or times in each year so as not to materially and adversely interfere with the business of the Company. Unused vacation may not be carried over from any one-year period to any other period except as may be required by law.