Common use of Performance Year Clause in Contracts

Performance Year. Each calendar year beginning with January 1, 1998 shall be a "Performance Year." If the Employee is employed by the Company for a part of a Performance Year, he shall receive a bonus equal to the bonus he would have received had he been employed for the entire Performance Year, multiplied by a fraction, the numerator of which is the number of days he was employed by the Company during such Performance Year and the denominator of which is 365; provided, that if the Employee's employment is terminated prior to the end of the Performance Year by the Company for Cause or the Employee resigns, no bonus shall be made for the Performance Year (or part hereof) in which the Employee's employment was terminated or in which the Employee resigns.

Performance Year. Each calendar year beginning with January 1, 1998 2003 shall be a "Performance Year." If the Employee is employed by the Company for a part of a Performance Year, he shall receive a bonus Bonus equal to the bonus Bonus he would have received had he been employed for the entire Performance Year, multiplied by a fraction, the numerator of which is the number of days he was employed by the Company during such Performance Year and the denominator of which is 365; provided, that if the Employee's employment is terminated prior to the end of the Performance Year by the Company for Cause or the Employee resigns, no bonus Bonus shall be made for the Performance Year (or part hereofthereof) in which the Employee's employment was terminated or in which the Employee resigns. For the purpose of calculating the Bonus that the Employee shall be entitled to receive in respect of the Performance Year ending December 31, 2003, the Employee shall be deemed to have been employed by the Company commencing on January 1, 2003.

Performance Year. Each calendar year beginning with January 1, 1998 2005 shall be a "Performance Year." If the Employee is employed by the Company for a part of a Performance Year, he shall receive a bonus Bonus equal to the bonus Bonus he would have received had he been employed for the entire Performance Year, multiplied by a fraction, the numerator of which is the number of days he was employed by the Company during such Performance Year and the denominator of which is 365; provided, that if the Employee's employment is terminated prior to the end of the Performance Year by the Company for Cause or the Employee resigns, no bonus Bonus shall be made for the Performance Year (or part hereofthereof) in which the Employee's employment was terminated or in which the Employee resigns. For the purpose of calculating the Bonus that the Employee shall be entitled to receive in respect of the Performance Year ending December 31, 2005, the Employee shall be deemed to have been employed by the Company commencing on January 1, 2005.