Common use of Termination of Employment Due to Retirement Clause in Contracts

Termination of Employment Due to Retirement. In the event of the Retirement of the Participant on or after September 30, 2012, the Participant’s Performance Units may be considered for vesting following the close of the July 2011 – December 2013 Performance Cycle. At the discretion of the Committee, the Participant may vest in and be entitled to receive a cash payment equal to the product of (i) the percentage equal to the days of Participant’s Employment during the July 2011 – December 2013 Performance Cycle divided by the total days in the July 2011 – December 2013 Performance Cycle, (ii) the number of Performance Units granted hereunder, and (iii) the Payout Value. Such cash payment shall be made as soon as administratively feasible following the Committee’s determination under Paragraph 2 and, in any event, during the calendar year following the close of the July 2011 – December 2013 Performance Cycle. If, in accordance with the Committee’s determination under Paragraph 2, the Payout Value is zero, the Participant shall immediately forfeit any and all rights to the Performance Units. Upon the vesting and/or forfeiture of the Performance Units pursuant to this Paragraph 6 and the making of the related cash payment, if any, the rights of the Participant and the obligations of the Corporation under this Award Agreement shall be satisfied in full. The death of the Participant following Retirement but prior to the close of the July 2011 – December 2013 Performance Cycle shall have no effect on this Paragraph 6.

Termination of Employment Due to Retirement. In the event of the Retirement of the Participant on or after September 30July 1, 20122011, the Participant’s Performance Units may be considered for vesting following the close of the July 2011 – December 2013 2010-2012 Performance Cycle. At the discretion of the Committee, the Participant may vest in and be entitled to receive a cash payment equal to the product of (i) the percentage equal to the days of Participant’s Employment during the July 2011 – December 2013 2010-2012 Performance Cycle divided by the total days in the July 2011 – December 2013 2010-2012 Performance Cycle, (ii) the number of Performance Units granted hereunder, and (iii) the Payout Value. Such cash payment shall be made as soon as administratively feasible following the Committee’s determination under Paragraph 2 and, in any event, during the calendar year following the close of the July 2011 – December 2013 2010-2012 Performance Cycle. If, in accordance with the Committee’s determination under Paragraph 2, the Payout Value is zero, the Participant shall immediately forfeit any and all rights to the Performance Units. Upon the vesting and/or forfeiture of the Performance Units pursuant to this Paragraph 6 and the making of the related cash payment, if any, the rights of the Participant and the obligations of the Corporation under this Award Agreement shall be satisfied in full. The death of the Participant following Retirement but prior to the close of the July 2011 – December 2013 2010-2012 Performance Cycle shall have no effect on this Paragraph 6.

Termination of Employment Due to Retirement. In the event of the Retirement of the Participant on or after September 30July 1, 20122013, the Participant’s Performance Units may be considered for vesting following the close of the July 2011 – December 2013 2012-2014 Performance Cycle. At the discretion of the Committee, the Participant may vest in and be entitled to receive a cash payment equal to the product of (i) the percentage equal to the days of Participant’s Employment during the July 2011 – December 2013 2012-2014 Performance Cycle divided by the total days in the July 2011 – December 2013 2012-2014 Performance Cycle, (ii) the number of Performance Units granted hereunder, and (iii) the Payout Value. Such cash payment shall be made as soon as administratively feasible following the Committee’s determination under Paragraph 2 and, in any event, during the calendar year following the close of the July 2011 – December 2013 2012-2014 Performance Cycle. If, in accordance with the Committee’s determination under Paragraph 2, the Payout Value is zero, the Participant shall immediately forfeit any and all rights to the Performance Units. Upon the vesting and/or forfeiture of the Performance Units pursuant to this Paragraph 6 and the making of the related cash payment, if any, the rights of the Participant and the obligations of the Corporation under this Award Agreement shall be satisfied in full. The death of the Participant following Retirement but prior to the close of the July 2011 – December 2013 2012-2014 Performance Cycle shall have no effect on this Paragraph 6.

Termination of Employment Due to Retirement. In the event of the Retirement of the Participant on or after September 30, 201250% of the Performance Cycle has elapsed, the Participant’s Performance Units may be considered for vesting following the close of the July 2011 – December 2013 Performance Cycle. At the discretion of the Committee, the Participant may vest in and be entitled to receive a cash payment equal to the product of (i) the percentage equal to the days of Participant’s Employment during the July 2011 – December 2013 Performance Cycle divided by the total days in the July 2011 – December 2013 Performance Cycle, (ii) the number of Performance Units granted hereunder, and (iii) the Payout Value. Such cash payment shall be made as soon as administratively feasible following the Committee’s determination under Paragraph 2 and, in any event, during the calendar year following the close of the July 2011 – December 2013 Performance Cycle. If, in accordance with the Committee’s determination under Paragraph 2, the Payout Value is zero, the Participant shall immediately forfeit any and all rights to the Performance Units. Upon the vesting and/or forfeiture of the Performance Units pursuant to this Paragraph 6 and the making of the related cash payment, if any, the rights of the Participant and the obligations of the Corporation under this Award Agreement shall be satisfied in full. The death of the Participant following Retirement but prior to the close of the July 2011 – December 2013 Performance Cycle shall have no effect on this Paragraph 6.