Common use of Calculation Date Clause in Contracts

Calculation Date. The present value of the Retirement Severance Pay benefits and the Early Retirement Plan benefits under the Prior Agreement shall be calculated, effective as of June 30, 2003. Using the above assumptions and the other assumptions contained on the Buy Out Spread Sheet attached hereto and incorporated herein as Appendix , FSC shall prepare the present value calculations for each teacher and the contributions described hereinafter will be made.

Calculation Date. The present value of the Retirement Severance Pay benefits and the Early Retirement Plan benefits Social Security and Medicare Bridge Benefits under the Prior Agreement shall be calculated, effective as of June 30January 31, 20032006. Using the above assumptions and the other assumptions contained on the Buy Out Spread Sheet attached hereto and incorporated herein as Appendix E, FSC ESC shall prepare the present value calculations for each teacher and the contributions described hereinafter will be made.