Common use of Termination of SARs Clause in Contracts

Termination of SARs. Both exercisable and nonexercisable SARs shall terminate, as provided below, upon the earliest to occur of the following: (a) five days after Participant ceases to be an employee of Corporation or a Subsidiary due to involuntary termination by Corporation or a Subsidiary for cause; (b) 30 days after Participant ceases to be an employee of Corporation or a Subsidiary, unless Participant ceases to be such employee in a manner described in clause (a), (c), (d) or (e) of this Section; (c) One year after Participant’s Disability, if Participant’s Disability occurs while continuously employed by Corporation or a Subsidiary; (d) One year after the death of Participant, if Participant dies while continuously employed by Corporation or a Subsidiary or within the period specified in clause (b) above or clause (e) below if applicable to Participant; (e) Ten years from the Grant Date if Participant terminates employment for any reason other than involuntary termination by Corporation or a Subsidiary for cause and has attained age 55 and completed five years of service upon the termination date,; and (f) Ten years from the Grant Date.

Termination of SARs. Both exercisable and nonexercisable SARs shall terminate, as provided below, upon the earliest to occur of the following: : (a) five days after Participant ceases to be an employee of Corporation or a Subsidiary due to involuntary termination by Corporation or a Subsidiary for cause; ; (b) 30 days after Participant ceases to be an employee of Corporation or a Subsidiary, unless Participant ceases to be such employee in a manner described in clause (a), (c), (d) or (e) of this Section; ; (c) One year after Participant’s Disability, if Participant’s Disability occurs while continuously employed by Corporation or a Subsidiary; ; (d) One year after the death of Participant, if Participant dies while continuously employed by Corporation or a Subsidiary or within the period specified in clause (b) above or clause (e) below if applicable to Participant; ; (e) Ten years from the Grant Date if Participant terminates employment for any reason other than involuntary termination by Corporation or a Subsidiary for cause and has attained age 55 and completed five years of service upon the termination date,; and and (f) Ten years from the Grant Date.