Accelerated Vesting upon Retirement. Notwithstanding anything in the Agreement or the Plan to the contrary, if the Executive’s employment or service is terminated by reason of retirement, the RSUs immediately shall fully vest. For purposes of the foregoing, "retirement" shall have the definition prescribed by local Laws.
Accelerated Vesting upon Retirement. In the event the Participant ceases to be employed by the Company or any of its subsidiaries prior to the Vesting Date by reason of such individual’s retirement in accordance with any retirement plan or policy of the Company or any of its subsidiaries, all Restricted Stock granted pursuant to this Agreement shall vest upon such retirement. New certificate(s) representing the vested shares shall be issued in accordance with Section 5.1(b) of this Agreement, except that such issuance shall occur reasonably promptly after any such retirement.
Accelerated Vesting upon Retirement. If the Participant ceases to be employed by the Company or any Subsidiary prior to the Vesting Date due to the Participant’s retirement in accordance with any retirement plan or policy of the Company or any Subsidiary (“Retirement”), to the extent that the RSUs have not previously been forfeited, all RSUs evidenced by this Agreement shall Vest in full upon such Retirement (and become entitled to settlement as specified in Section 4 of this Agreement).
Accelerated Vesting upon Retirement. Notwithstanding anything in the Agreement or the Plan to the contrary, if the Executive’s employment or service is terminated by reason of retirement, the Option immediately shall fully vest, become exercisable and will expire on the earlier of (i) six (6) years from the Termination Date or (ii) the original expiration date of the Option. For purposes of the foregoing, "retirement" shall have the definition prescribed by local Laws.
Accelerated Vesting upon Retirement. In the event the Participant ceases to be employed by the Company or any of its subsidiaries prior to the end of the Performance Period by reason of such individual’s retirement in accordance with any retirement plan or policy of the Company or any of its subsidiaries, all Restricted Stock granted pursuant to this Agreement shall vest upon such retirement at the “target” performance level for the Performance Period. New certificate(s) representing such level of vested shares shall be issued in accordance with Section 5.1(b) of this Agreement, except such issuance shall occur reasonably promptly after any such retirement.
Accelerated Vesting upon Retirement. Notwithstanding anything in the Agreement or the Plan to the contrary, if the Executive’s employment or service is terminated prior to the Option Vesting Date due to the Executive’s retirement, the Option immediately shall fully vest, become exercisable and will expire on the earlier of (i) six (6) years from the Termination Date or (ii) the original expiration date of the Option. For purposes of the foregoing, "retirement" shall mean the Executive’s termination of service with (i) 25 years of service, (ii) 20 years of service and attainment of age 55, or (iii) attainment of age 60.
Accelerated Vesting upon Retirement. Notwithstanding anything in the Agreement or the Plan to the contrary, if the Executive’s employment or service is terminated by reason of retirement, the RSUs immediately shall fully vest. For purposes of the foregoing, "retirement" shall have the definition prescribed by local Laws. By accepting the RSUs, the Executive acknowledges that he or she has received a copy of the Plan, has reviewed the Plan and the Agreement in their entirety, and fully understands and accepts all provisions of the Plan and the Agreement. In addition, by accepting the RSUs, the Executive acknowledges that he or she has read and specifically and expressly approves the terms and conditions in Section 6.05 of the Agreement (“Nature of Grant”), in which the following is clearly described and established: (i) participation in the Plan does not constitute an acquired right; (ii) the Plan and participation in the Plan is offered by the Company on a wholly discretionary basis; (iii) participation in the Plan is voluntary; and (iv) neither the Company, the Employer nor any Subsidiary is responsible for any decrease in the value of the Shares underlying the RSUs.
Accelerated Vesting upon Retirement. Notwithstanding anything in the Agreement or the Plan to the contrary, if the Executive’s employment or service is terminated by reason of retirement, the Performance Shares immediately shall fully vest. For purposes of the foregoing, “retirement” shall have the definition prescribed by local law.
Accelerated Vesting upon Retirement. Notwithstanding anything in the Agreement or the Plan to the contrary, if the Executive’s employment or service is terminated by reason of retirement, the Option immediately shall fully vest, become exercisable and will expire on the earlier of (i) six (6) years from the Termination Date or (ii) the original expiration date of the Option. For purposes of the foregoing, “retirement” shall have the definition prescribed by local law. The Executive expressly recognizes that participation in the Plan and the Company’s grant of the Option does not constitute an employment relationship between the Executive and the Company. The Executive has been granted the Option as a consequence of the commercial relationship between the Company and the Employer, and the Employer is the Executive’s sole employer. Based on the foregoing, (a) the Executive expressly recognizes that the Plan and the benefits derived from participation in the Plan do not establish any rights between the Executive and the Company or the Employer, (b) the Plan and the benefits derived from participation in the Plan are not part of the employment conditions and/or benefits provided by the Company or the Employer, and (c) any modifications or amendments to the Plan by the Company, or a termination of the Plan by the Company, shall not constitute a change or impairment of the terms and conditions of the Executive’s employment with the Employer.
Accelerated Vesting upon Retirement. Notwithstanding anything in the Agreement or the Plan to the contrary, if the Executive’s employment or service is terminated by reason of retirement, the RSUs immediately shall fully vest. For purposes of the foregoing, “retirement” shall have the definition prescribed by local law. The Executive expressly recognizes that participation in the Plan and the Company’s grant of the RSUs does not constitute an employment relationship between the Executive and the Company. The Executive has been granted RSUs as a consequence of the commercial relationship between the Company and the Employer, and the Employer is the Executive’s sole employer. Based on the foregoing, (a) the Executive expressly recognizes that the Plan and the benefits derived from participation in the Plan do not establish any rights between the Executive and the Company or the Employer, (b) the Plan and the benefits derived from participation in the Plan are not part of the employment conditions and/or benefits provided by the Company or the Employer, and (c) any modifications or amendments to the Plan by the Company, or a termination of the Plan by the Company, shall not constitute a change or impairment of the terms and conditions of the Executive’s employment with the Employer.
