Common use of Effect of Death, Incapacity and Retirement on Settlement Clause in Contracts

Effect of Death, Incapacity and Retirement on Settlement. Upon Participant's death or termination of employment due to Incapacity or “Retirement”, no forfeiture or accelerated settlement of the Performance Shares shall occur (except as provided in Section 4(c)(i) above). Rather, on the Scheduled Settlement Date following the Applicable Committee Meeting, if Certification occurs, a pro rata portion of the Performance Shares subject to this Agreement shall be settled based on the period of time in the Performance Period that elapsed prior to Participant's termination of employment. The pro rata portion of the Performance Shares being settled shall be determined by (A) dividing the aggregate number of Performance Shares Participant would have been entitled to receive had he or she been employed through the end of the Performance Period by 36 (i.e., the number of calendar months in the Performance Period), and then (B) multiplying the quotient obtained in (A) by the number of whole months elapsed from the commencement of the 2017 fiscal year to the date of Participant's death or termination of employment due to Incapacity or Retirement. For purposes of this pro rata calculation, Participant must have been actively employed as a full-time employee for an entire calendar month in the Performance Period to receive credit that that month.

Effect of Death, Incapacity and Retirement on Settlement. Upon ParticipantAwardee's death or termination of employment due to Incapacity or “Retirement”, no forfeiture or accelerated settlement of the Performance Shares shall occur (except as provided in Section 4(c)(i) above). Rather, on the Scheduled Settlement Date following the Applicable Committee Meeting, if Certification occurs, a pro rata portion of the Performance Shares subject to this Agreement shall be settled based on the period of time in the Performance Period that elapsed prior to ParticipantAwardee's termination of employment. The pro rata portion of the Performance Shares being settled shall be determined by (A) dividing the aggregate number of Performance Shares Participant Awardee would have been entitled to receive had he or she been employed through the end of the Performance Period by 36 3 (i.e., the number of calendar months years in the Performance Period), and then (B) multiplying the quotient obtained in (A) by the number of whole months years elapsed from the commencement of the 2017 2013 fiscal year to the date of ParticipantAwardee's death or termination of employment due to Incapacity or Retirement. For purposes of this pro rata calculation, Participant Awardee must have been actively employed as a full-time employee for an entire calendar month year in the Performance Period to receive credit that that monthyear.

Effect of Death, Incapacity and Retirement on Settlement. Upon ParticipantAwardee's death or termination of employment due to Incapacity or “Retirement”, no forfeiture or accelerated settlement of the Performance Shares shall occur (except as provided in Section 4(c)(i) above). Rather, on the Scheduled Settlement Date following the Applicable Committee Meeting, if Certification occurs, a pro rata portion of the Performance Shares subject to this Agreement shall be settled based on the period of time in the Performance Period that elapsed prior to ParticipantAwardee's termination of employment. The pro rata portion of the Performance Shares being settled shall be determined by (A) dividing the aggregate number of Performance Shares Participant Awardee would have been entitled to receive had he or she been employed through the end of the Performance Period by 36 (i.e., the number of calendar months in the Performance Period), and then (B) multiplying the quotient obtained in (A) by the number of whole months elapsed from the commencement of the 2017 2015 fiscal year to the date of ParticipantAwardee's death or termination of employment due to Incapacity or Retirement. For purposes of this pro rata calculation, Participant Awardee must have been actively employed as a full-time employee for an entire calendar month in the Performance Period to receive credit that that month.

Effect of Death, Incapacity and Retirement on Settlement. Upon Participant's death or termination of employment due to Incapacity or “Retirement”, no forfeiture or accelerated settlement of the Performance Shares shall occur (except as provided in Section 4(c)(i) above). Rather, on the Scheduled Settlement Date following the Applicable Committee Meeting, if Certification occurs, a pro rata portion of the Performance Shares subject to this Agreement shall be settled based on the period of time in the Performance Period that elapsed prior to Participant's termination of employment. The pro rata portion of the Performance Shares being settled shall be determined by (A) dividing the aggregate number of Performance Shares Participant would have been entitled to receive had he or she been employed through the end of the Performance Period by 36 (i.e., the number of calendar months in the Performance Period), and then (B) multiplying the quotient obtained in (A) by the number of whole months elapsed from the commencement of the 2017 20__ fiscal year to the date of Participant's death or termination of employment due to Incapacity or Retirement. For purposes of this pro rata calculation, Participant must have been actively employed as a full-time employee for an entire calendar month in the Performance Period to receive credit that that month.