Example ContractsClausesinvoluntary termination without causeVariants
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Involuntary Termination. If a Grantee’s employment terminates during the Award Period and the Company determines that employment was involuntarily terminated on or after the first anniversary of the first day of the Award Period, a pro rata portion (based on the number of completed months held during the Award Period prior to the date employment terminated) of this PSU Award will be distributed at such time as it would have been paid if employment had continued, based on actual performance during the Award Period as determined in accordance with [Section III]. The remainder will be forfeited on the date employment ends. The pro rata portion shall be determined by multiplying the Final Award by a fraction, the numerator of which is the number of completed months in the Award Period during which the Grantee was employed by the Company or JV, and the denominator of which is 36. An “involuntary termination” includes termination of employment by the Company as the result of a restructuring or job elimination, but excludes non-performance of duties and the reasons listed under paragraphs C through G of this section.

Involuntary Termination.

Retirement. If a Grantee’sGrantee terminates employment terminates during the Award Period by retirement (including early and the Company determines that employment was involuntarily terminated on or after the first anniversary of the first day of the Award Period, a pro rata portion (based on the number of completed months held during the Award Period prior to the date employment terminated) ofdisability retirement), then this PSU Award will continue and be distributeddistributable on a pro rata basis at the time active Grantees receive such time as it would have been paid if employment had continued,distributions with respect to that Award Period based on actual performance during the Award Period as determined in accordance with [Section III]. The remainder will be forfeited on the date employment ends.Final Award. The pro rata portion shall be determined by multiplying the Final Award by a fraction, the numerator of which is the number of completed months in the Award Period during which the Grantee was employed by the Company or JV, and the denominator of which is 36. An “involuntary termination” includesFor Grantees who are employed in the U.S., “retirement” means a termination of employment after attaining the earliest of # age 55 with at least 10 years of service # such age and service that provides eligibility for subsidized retiree medical coverage or # age 65 without regard to years of service. For other Grantees, “retirement” is determined by the Company as the result of a restructuring or job elimination, but excludes non-performance of duties and the reasons listed under paragraphs C through G of this section.Company.

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