(a) Except as provided in subsection (b) of this section, an individual who otherwise is eligible to receive benefits is disqualified from receiving benefits for each week for which the Secretary finds that the individual is receiving, has received, or will receive holiday or vacation pay accumulated or earned to the credit of the individual if, on or before the date of the layoff or separation, the employing unit notifies the individual of a definite date on which the individual will return to work.

(b) Notwithstanding any other provision of this title, an individual may not be disqualified under subsection (a) of this section if the individual receives holiday or vacation pay attributable to a period that is outside the terms of an employment agreement that specifies: