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 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. 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 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 at the “target” performance level for the Performance Periodretirement. New certificate(s) representing such level of 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.