Common use of Retirement Prior to Age 62 Clause in Contracts

Retirement Prior to Age 62. If the Participant’s employment terminates prior to the Vesting Date by reason of the Participant’s Retirement prior to attaining at least age 62, then a whole number of the target PEPunits granted hereunder shall vest on the Participant’s last day of active employment with the Company, with such number determined in proportion to the Participant’s active service (measured in calendar days) during the period commencing on the Grant Date and ending on the Vesting Date (the “Vesting Period”). All PEPunits that vest in accordance with the foregoing sentence shall remain subject to the earning and forfeiture provisions of Paragraphs A.2 and A.3.

Retirement Prior to Age 62. If the Participant’s employment terminates prior to the Vesting Date Date, by reason of the Participant’s Retirement (as defined below) prior to attaining at least age 62, then a whole number of the target PEPunits granted hereunder Restricted Stock Units shall vest on the Participant’s last day of active employment with the Company, with such number determined in proportion to the Participant’s active service (measured in calendar days) during the period commencing on the Grant Date and ending on the Vesting Date (the “Vesting Period”)Date. All PEPunits Restricted Stock Units that vest in accordance with the foregoing sentence shall remain subject to the earning payment and forfeiture provisions of Paragraphs A.2 B.2 and A.3B.3.

Retirement Prior to Age 62. If the Participant’s employment terminates prior to the Vesting Date by reason of the Participant’s Retirement prior to attaining at least age 62, then a whole number of the target PEPunits PEPUnits granted hereunder shall vest on the Participant’s last day of active employment with the Company, with such number determined in proportion to the Participant’s active service (measured in calendar days) during the period commencing on the Grant Date and ending on the Vesting Date (the “Vesting Period”). All PEPunits PEPUnits that vest in accordance with the foregoing sentence shall remain subject to the earning and forfeiture provisions of Paragraphs A.2 and A.3.