Common use of Retirement on or After Age 62 Clause in Contracts

Retirement on or After Age 62. If the Participant’s employment terminates by reason of the Participant’s Retirement after attaining at least age 62, then the PEPunits granted hereunder shall become fully vested on the Participant’s last day of active employment with the Company. All such vested PEPunits shall remain subject to the earning and forfeiture provisions of Paragraphs A.2 and A.3.

Retirement on or After Age 62. If the Participant’s employment terminates by reason of the Participant’s Retirement after attaining at least age 62, then the PEPunits PEPUnits granted hereunder shall become fully vested on the Participant’s last day of active employment with the Company. All such vested PEPunits PEPUnits shall remain subject to the earning and forfeiture provisions of Paragraphs A.2 and A.3.