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(b) the "years of service" of an individual shall be determined as follows: 
   1. In the case of an individual who is a pilot in the month in which this Act was enacted, the "years of service" shall include all his service both before 1948 and after December 31, 1947.
   2. In all other cases the "years of service" shall include only service after December 31, 1947.

MONTHLY COMPENSATION
(c) The "monthly compensation" shall be the average compensation paid to a pilot with respect to calendar month included in his years of service, except that with respect to service prior to January 1, 1948, the monthly compensation shall be calculated as follows: (i) divide the compensation paid to a pilot in the calendar year 1947 by the total number of flight hours used for pay purposes in such year, and (ii) multiply the quotient in (i) by 83 1/3: PROVIDED, HOWEVER, That where the number of flight hours in the year 1947 is, in the judgement of the Board, insufficient to constitute a fair and equitable basis for determining the amount of compensation paid to him in each month of service before 1948, the Board shall determine the amount of such compensation for each such month in such manner as in its judgement shall be fair and equitable. In computing the monthly compensation, no part of any compensation paid in any one calendar year in excess of $12,000 shall be recognized, nor shall the monthly compensation with respect to service prior to January 1, 1948, exceed $1000.
(d) No retirement annuity payable to a pilot who, at the time of retiring under or becoming disabled in accordance with paragraph 1, 2 or 4 of section 2(a) had an employment relation to the air transport industry