troubleshooting Question

# Excel. Nested vlookup with offset

Microsoft Excel
Hello Experts,

I am trying to write a formula that will work in Excel 2003 and 2010, It has a vlookup range with an offset.  I am not sure if this is possible to combine these 2 in the same formula - I was hoping to find a work-around since I am using this formula numerous times throughout my workbook.
I prefer it to be a formula and not computed in a vba cell change routine.

Right now the formula that errors out is:

=C20*(vlookup(\$F\$1,INFO!\$A\$1:\$B\$60,2(offset,1,1),false))+IF(C20>40,(C20-40)*(vlookup(\$F\$1,INFO!\$A\$1:\$B\$60,2(offset,1,1),false)/2),0)

If needed - here are a few tidbits:

F1 is cell that contains the month on that worksheet.  (I have 12 monthly sheets)
Range INFO!A1:B60 is a constant.
with A1 being January with the remaining months listed down the column with 4 rows of  names listed under each month.
Column B being the respective payrates of the individuals in the 4 rows.

The formula should find the month then take the payrate which is over 1 column and down 1 row and multiply by the value in C20 and if any hours are greater than 40 then multiply that offset figure.
(C20 is the amount of hours and will be modified for each of the corresponding folks C20, C21, C22, C23 - after I get the formula to work correctly)

Any help would be appreciated,
Thank you,
Michael
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