Common use of Partial Year Clause in Contracts

Partial Year. For any partial year (i.e. a year in which, due to the expiration or termination of this Agreement, Executive does not serve as an employee of Employer for the entire year), then the EBITDA of Employer as of the last fiscal quarter ending prior to the date of expiration or termination of this Agreement shall be annualized for purposes of determining whether any bonus is payable to Executive with respect to such year and, if such a bonus is payable (i.e. if the EBITDA of Employer, as so annualized, satisfies the required EBITDA Amount for such year) then the Executive shall be entitled to a pro-rata portion of the Bonus Amount, calculated as (x) $250,000 multiplied by (y) a fraction, the numerator of which is the number of days elapsed in such year as of the date of expiration or termination of this Agreement, and the denominator of which is 365.

Partial Year. For any partial year (i.e. i.e., a year in which, due to the expiration or termination of this Agreement, Executive does not serve as an employee of Employer Company for the entire year), then the EBITDA of Employer Company as of the last fiscal quarter ending prior to the date of expiration or termination of this Agreement shall be annualized for purposes of determining whether any bonus is bonuses are payable to Executive with respect to such year and, if any such a bonus is payable (i.e. i.e., if the EBITDA of EmployerCompany, as so annualized, satisfies the applicable required EBITDA Amount for such year) then the Executive shall be entitled to a pro-rata portion of the Bonus Amount, calculated as (x) $250,000 the applicable Bonus Amount multiplied by (y) a fraction, the numerator of which is the number of days elapsed in such year as of the date of expiration or termination of this Agreement, and the denominator of which is 365.