Common use of Day Value Clause in Contracts

Day Value. The day value is calculated as at 1 January of the year in which the employee uses a day as a source or designates it as a target. The following formula applies: Once per calendar year each employee is given the opportunity to make a selection for the coming calendar year with regard to sources and targets. Employer and employee will, with due observance of the structure and organisation of the firm, record in writing the choices and agreements made. In case of commencing employment in the interim period, the new recruit will be given the opportunity to select their sources and targets at that point in time. ARTICLE Has ceased to apply.