Current Performance Year Sample Clauses
The "Current Performance Year" clause defines the specific 12-month period during which a party's performance under an agreement is measured and evaluated. Typically, this period aligns with either the calendar year or a fiscal year, and it is used to track obligations, achievements, or compliance for that timeframe. By clearly establishing the relevant year for performance assessment, this clause ensures that both parties have a mutual understanding of when responsibilities are to be fulfilled and measured, thereby preventing confusion or disputes over timing.
Current Performance Year. An amount equal to the product of (A) the Salary and (B) the Target Bonus Percentage, with the product of (A) and (B) prorated based on the number of days Executive was employed during the bonus year in which Executive’s Covered Termination Date occurs, in a lump sum in cash within sixty (60) days after the Covered Termination Date.