Common use of Termination of Employment During Performance Period Clause in Contracts

Termination of Employment During Performance Period. (a) If the Participant’s employment with the Corporation and its subsidiaries is terminated during the Performance Period: (1) by reason of death or Disability, (2) by Retirement at least one year after the first day of the Performance Period, or (3) by the Company without Cause (each, a “Qualified Termination”), the Segmented Target Performance Units for each Performance Measure shall automatically be adjusted on a pro-rata basis to reflect the number of completed months out of the entire Performance Period as of the date of the termination of employment. Thereafter, the Participant (or his/her transferee(s) under Section 4 as the case may be) shall be entitled to any amounts payable under Section 10 following the termination of the Performance Period in accordance with the terms hereof.

Termination of Employment During Performance Period. (a) If the Participant’s employment with the Corporation and its subsidiaries is terminated during the Performance Period: (1) by reason of death or Disability, (2) by Retirement at least one year after the first day of the Performance Period, or (3) by the Company without Cause (each, a “‘‘Qualified Termination”’’), the Segmented Target Performance Units for each Performance Measure shall automatically be adjusted on a pro-rata basis to reflect the number of completed months out of the entire Performance Period as of the date of the termination of employment. Thereafter, the Participant (or his/her transferee(s) under Section 4 as the case may be) shall be entitled to any amounts payable under Section 10 following the termination of the Performance Period in accordance with the terms hereof.