Common use of Death During Performance Period Clause in Contracts

Death During Performance Period. If the Participant’s death while employed occurs during the Performance Period, the prorata number of the PSUs shall be equal to (A) the total number of granted PSUs under Section 1(a) plus any dividend equivalents multiplied by (B) a fraction, the numerator of which shall be the number of full months elapsed from the Date of Grant through the end of the calendar year that contains the Participant’s date of death and the denominator of which shall be [40] (i.e., the number of months in the Vesting Period, treating the month containing the Date of Grant as a full calendar month). Notwithstanding anything in this Agreement to the contrary, the actual number of PSUs to be settled shall be the prorated number of PSUs determined pursuant to this clause multiplied by the average STIP payout for the completed calendar years during the Performance Period before the year of settlement. For example, if the Participant dies during the second calendar year of the Performance Period, the average STIP payout will be the average of the actual payout percentage determined for achievement of the corporate measures established under the STIP for the first and second calendar years during the Performance Period.

Death During Performance Period. If the Participant’s death while employed occurs during the Performance Period, the prorata number of the PSUs shall be equal to (A) the total number of granted PSUs under Section 1(a) plus any dividend equivalents multiplied by (B) a fraction, the numerator of which shall be the number of full months elapsed from the Date of Grant through the end of the calendar year that contains the Participant’s date of death and the denominator of which shall be [40] 40 (i.e., the number of months in the Vesting Period, treating the month containing the Date of Grant as a full calendar month). Notwithstanding anything in this Agreement to the contrary, the actual number of PSUs to be settled shall be the prorated number of PSUs determined pursuant to this clause multiplied by the average STIP payout for the completed calendar years during the Performance Period before the year of settlement. For example, if the Participant dies during the second calendar year of the Performance Period, the average STIP payout will be the average of the actual payout percentage determined for achievement of the corporate measures established under the STIP for the first and second calendar years during the Performance Period.

Death During Performance Period. If the Participant’s death while employed occurs during the Performance Period, the prorata pro rata number of the PSUs shall be equal to (A) the total number of granted PSUs under Section 1(a) plus any dividend equivalents multiplied by (B) a fraction, the numerator of which shall be the number of full months elapsed from the Date of Grant through the end of the calendar year that contains the Participant’s date of death and the denominator of which shall be [40] 40 (i.e., the number of months in the Vesting Period, treating the month containing the Date of Grant as a full calendar month). Notwithstanding anything in this Agreement to the contrary, the actual number of PSUs to be settled shall be the prorated number of PSUs determined pursuant to this clause multiplied by the average STIP payout for the completed calendar years during the Performance Period before the year of settlement. For example, if the Participant dies during the second calendar year of the Performance Period, the average STIP payout will be the average of the actual payout percentage determined for achievement of the corporate measures established under the STIP for the first and second calendar years during the Performance Period.

Death During Performance Period. If the Participant’s death while employed occurs during the Performance Period, the prorata number of the PSUs shall be equal to (A) the total number of granted PSUs under Section 1(a) plus any dividend equivalents multiplied by (B) a fraction, the numerator of which shall be the number of full calendar months elapsed from the Date of Grant through the end of the calendar year that contains the Participant’s date of death and the denominator of which shall be [40] 39 (i.e., the number of calendar months in the Vesting Period, treating the calendar month containing following the Date of Grant as a full the first calendar month). Notwithstanding anything in this Agreement to the contrary, the actual number of PSUs to be settled shall be the prorated number of PSUs determined pursuant to this clause multiplied by the average STIP payout for the completed calendar years during the Performance Period before the year of settlement. For example, if the Participant dies during the second calendar year of the Performance Period, the average STIP payout will be the average of the actual payout percentage determined for achievement of the corporate measures established under the STIP for the first and second calendar years during the Performance Period.