Common use of Accelerated Vesting upon Retirement Clause in Contracts

Accelerated Vesting upon Retirement. In the event the Participant ceases to be employed by the Company or any of its subsidiaries by reason of such individual’s retirement in accordance with any retirement plan or policy of the Company or any of its subsidiaries, this option shall vest and become fully exercisable to the extent not otherwise exercisable at the time of such retirement, and the Participant may exercise this option at any time within the five-year period following such retirement (but only within the option period specified in Section 11).

Accelerated Vesting upon Retirement. In the event the Participant ceases to be employed by the Company or any of its subsidiaries by reason of such individual’s 's retirement in accordance with any retirement plan or policy of the Company or any of its subsidiaries, this option shall vest and become fully exercisable to the extent not otherwise exercisable at the time of such retirement, and the Participant may exercise this option at any time within the five-year period following such retirement (but only within the option period specified in Section 11).