Pro Rata Fraction
Pro Rata Fraction. The term "Pro-Rata Fraction" shall mean a fraction, the numerator of which shall be equal to the number of days between the Grant Date and the Participant's Date of Termination and the denominator of which shall be 1095.
Found in
ASSURED GUARANTY LTD contract
Pro Rata Fraction. With respect to any Qualifying Terminated Participant, a fraction, the numerator of which equals the number of whole years elapsed from the later to occur of (x) the Effective Date or (y) the date such Qualifying Terminated Participant received a grant of Options hereunder, through the date of such Qualifying Terminated Participant's termination of employment with the Employer, and the denominator equals 4.
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