Common use of MID-YEAR CALCULATION Clause in Contracts

MID-YEAR CALCULATION. If employment is started or terminated during a fiscal year of the Employer and Employee is entitled to the Annual Performance Bonus hereunder, the Annual Performance Bonus determination will be made at the end of such fiscal year and prorated based on the number of days Employee was employed during that year; provided, in the case of Employee's termination of employment, Employee in his sole discretion may elect to determine the Annual Performance Bonus based on Before Tax Earnings annualized through the last day of the month preceding the date of Employee's termination of employment.

MID-YEAR CALCULATION. If employment is started or terminated during a fiscal year of the Employer and Employee is entitled to the Annual Performance Bonus hereunder, the Annual Performance Bonus determination will be made at the end of such the Employer's fiscal year and prorated based on the number of days Employee was employed during that year; provided, in the case of Employee's termination of employment, Employee the Employer in his its sole discretion may elect to determine the Annual Performance Bonus based on Before Tax Earnings annualized through the last day of the month preceding the date of Employee's termination of employment.