Applicable Fraction

Applicable Fraction. (i) if Executive's Covered Termination occurs prior to or on the three (3) month anniversary of the Effective Date, 3/12 and (ii) if the Covered Termination occurs after the three (3) month anniversary of the Effective Date but prior to the one (1) year anniversary of the Effective Date, the product of (x) the number of full months of service completed since the Effective Date (rounded up for any partial month completed) and (y) 1/12. So, for avoidance of doubt, if the Covered Termination... occurs on July 31, 2009, the Applicable Fraction is 4/12, and if the Covered Termination occurs on June 5, 2009, the Applicable Fraction is 3/12. In no event shall the Applicable Fraction exceed 12/12. View More

Applicable Fraction. One-fourth (1/4), if the qualifying Termination of Employment occurs on or before December 31, 2014; one-sixth (1/6), if the qualifying Termination of Employment occurs after December 31, 2014 but on or before December 31, 2015; and one-twelfth (1/12), if the qualifying Termination of Employment occurs after December 31, 2015.