§ 22. Wages and commissions and preferred claims. 1. In all
distribution of assets under all assignments made in pursuance of this
article, the wages or salaries actually owing to the employees of the
assignor or assignors at the time of the execution of the assignment for
services rendered within three months prior to the execution of the
assignment, not exceeding one thousand dollars to each employee, and
after payment of the foregoing, all claims for cash deposits not
exceeding three hundred dollars made and left with an assignor or
assignors on account of purchases at retail of merchandise or services,
where such deposits were made within six months before the execution of
the assignment and such merchandise has not been delivered or the
services performed, shall be preferred before any other debt except
wages or salaries as aforesaid; and should the assets of the assignor or
assignors not be sufficient to pay in full all the claims preferred,
pursuant to this section, they shall be applied to the payment first of
wages or salaries to the full amount of each such wage or salary, and
thereafter pro rata to payment of such cash deposits.

2. For the purposes of this section, wages or salaries shall mean; (a)
all compensation and benefits payable by an employer to or for the
account of the employee for personal services rendered by such employee.
These shall specifically include but not be limited to salaries,
overtime, vacation, holiday and severance pay; employer contributions to
or payments of insurance or welfare benefits; employer contributions to
pension or annuity funds; and any other moneys properly due or payable
for services rendered by such employee. Vacation and severance pay due
and owing at the time of the filing of an assignment, or which became
due and owing after the filing of an assignment, but prior to the
closing of the estate, shall be considered as wages or salaries owed for
services rendered within three months prior to the execution of the
assignment, or (b) commissions due traveling or city salesmen on
salaries or commission basis, whole or part-time, whether or not selling
exclusively for the assignor or assignors, and for the purpose of this
section, traveling or city salesmen, shall include all such salesmen
whether or not they are independent contractors selling products or
services of the bankrupt with or without a drawing account or formal
contract.