Common use of After the Term Clause in Contracts

After the Term. If, at any time after the Term, Company should terminate Employee's employment without Cause, or if Employee should terminate his employment for Good Reason, Company shall pay to Employee the Severance Payment, which shall be in lieu of any amount payable to Employee under the Company's Severance Policy for Senior Management, payable in a lump sum within five (5) days of termination. Notwithstanding any provision of the Performance Share Plan to the contrary, in the event Employee's employment is terminated pursuant to this Section 6(a)(ii), (A) all Performance Shares granted during the Term shall vest pro rata in proportion to the percentage of the performance cycle for such Performance Shares during which Employee was employed by Company and (B) Employee shall vest in two-thirds of the Performance Shares granted during the Term which have not vested pursuant to clause (A). All Performance Shares granted after the Term shall be treated according to the terms of the Performance Share Plan as then in effect. Within five (5) days of a termination pursuant to this Section 6(a)(ii), Employee shall receive a lump sum cash payment with respect to all such Performance Shares at a value of such shares multiplied by the applicable share price determined under the valuation mechanism in the Performance Share Plan.