The Executive shall be entitled to six (6) weeks paid vacation each twelve (12) months, to be taken at such time or times as shall be consistent with the proper performance by the Executive of his duties. No unused vacation, holidays, sick leave or personal days may be carried forward from year to year, nor, except as provided below, shall accrued unused vacation be paid out in cash. In the event that the Executive’s employment terminates for any reason, then the Executive shall be entitled to payment for any accrued but unused vacation days during the year such termination occurs.