The formula, in words
Add the typed term to commencement to get proposed exit. Subtract 12 calendar months from exit for the one year candidate. Add half the term to commencement for the half term candidate. The later candidate represents the shorter period and becomes the displayed date.
where E is the proposed exit, C the commencement, and T the term in calendar months. where Y is the one year candidate. where H is the half term candidate. where D is the displayed date. A worked example
- Commencement is 2025-01-01 and the term is 30 months, so proposed exit is 2027-07-01.
- Half the term elapses on 2026-04-01. One year before exit is 2026-07-01.
- The later candidate is 2026-07-01, so the displayed date comes from the one year clock.
- At 22 months the displayed date is 2025-12-01 under the half term clock. The two clocks are equal at exactly 24 months.
Calendar convention
Calendar months preserve the commencement day and clamp to the last valid day in a shorter target month. For an odd whole month term, the remaining half month is half the calendar days to the next monthly anniversary, rounded down to a whole day.
What this does not model
It does not read an agreement, determine whether an arrangement is registered, interpret transition provisions, calculate compensation, choose an exit route, cover another jurisdiction, or predict a Committee date.
What the sweep holds fixed
Only the stated term moves in whole months. Commencement and the optional Committee decision date remain fixed. A grid that spans but skips 24 does not show the equal branch.
Official sources
The page describes the published default stated in Article 10 without reproducing the law. The date convention is declared here and is not a legal interpretation.