Common use of Prorated Amount Clause in Contracts

Prorated Amount. At the end of the twelve‐month waiting period, the employee is eligible to receive a pro‐rated amount of vacation time which is based on the months remaining in the calendar year. For example, if the employee's waiting period ends in October, there are two months remaining in the calendar year. The employee would receive 2/12 of the yearly vacation amount and must use that vacation time by December 31st of that year. The same system will apply to anniversary increases that fall during the calendar year.

Prorated Amount. At the end of the twelve‐month twelve (12) month waiting period, the employee is eligible to receive a pro‐rated pro‐ rated amount of vacation time which is based on the months remaining in the calendar year. For example, if the employee's waiting period ends in October, there are two months remaining in the calendar year. The employee would receive 2/12 of the yearly vacation amount and must use that vacation time by December 31st of that year. The same system will apply to anniversary increases that fall during the calendar year.