In addition to the normal public holidays the Employee shall be entitled to 15 working days' paid holiday during each calendar year to be taken at such time or times as may be agreed with the Managing Director. Holiday days shall be deemed to accrue from day to day. The Employee may not carry forward any unused part of his holiday entitlement to a subsequent calendar year without the consent of the Managing Director.
7.2 For the calendar year during which the Employee's employment hereunder commences or terminates he shall be entitled to such proportion of his annual holiday entitlement as the period of his employment in each such year bears to one calendar year. Upon termination of his employment for whatever reason he shall if appropriate either be entitled to salary in lieu of any outstanding holiday entitlement or be required to pay to the Company any salary received in respect of holiday taken in excess of his proportionate holiday entitlement.