Acceleration of Vesting Upon Retirement. Notwithstanding any other provision in this Agreement, if the Recipient terminates his or her Continuous Service prior to the Vesting Date and after attaining age 62 (for reasons other than the reasons described in Sections 2(c), 2(d), 2(e) and 2(f) hereof) and completing at least five (5) years of Continuous Service (a “Retirement Termination”), the RSUs shall vest on the Vesting Date, provided that the Performance Goals described herein are attained during the Performance Period and provided further that, during the period (the “Restricted Period”) beginning on the date the Recipient has a Retirement Termination (the “Retirement Date”) and continuing until the Vesting Date, the Recipient does not, in any capacity (including, but not limited to, as an owner, member, partner, shareholder, consultant, advisor, financier, agent, employee, officer, director, manager or otherwise), whether directly or indirectly, engage in a Competitive Activity (as such term is hereinafter defined) or violate the non-solicitation restrictions set forth in Section 6(a). If the Recipient fails to comply with this provision, a portion of the RSUs equal to (i) the total number of RSUs granted, multiplied by (ii) a ratio equal to (A) the number of full months between ______________ and the date the Recipient violates this provision (not to exceed __), divided by (B) the total number of months between ___________ and the end of the Performance Period, shall become vested as of the Vesting Date, provided that the Performance Goals described herein are attained during the Performance Period, and the unvested portion of the RSUs shall be forfeited. The Percentage Payable and, if applicable, any modifications to the number of Shares payable pursuant to this Award, shall be determined according to the performance criteria set forth in the attached Exhibit A. Nothing in this subsection (g) shall prohibit the Recipient’s ownership of stock in any publicly held company (other than the Company) listed on a national securities exchange or whose shares of stock are regularly traded in the over the counter market as long as such holding at no time exceeds two percent (2%) of the total outstanding stock of such company.
Acceleration of Vesting Upon Retirement. In the event that the Optionee’s Continuous Service terminates by reason of the Optionee’s Retirement, any acceleration of exercisability of this Option shall be in accordance with Sections 7(a)(ii)(B) and 7(b)(ii)(B) of the LTIP.
Acceleration of Vesting Upon Retirement. If the Recipient terminates his or her Continuous Service after attaining age 62 (for reasons other than the reasons described in Sections 2(b), 2(d) and 2(e) hereof) and completing at least five (5) years of Continuous Service (a “Retirement Termination”), the Shares subject to the RSUs subject to this Agreement shall vest on the Vesting Date; provided that the Performance Goals described herein are attained during the Performance Period and that, during the period (the “Restricted Period”) beginning
Acceleration of Vesting Upon Retirement. In the event that the Participant’s Continuous Service terminates by reason of the Participant’s Retirement, the RSUs subject to this Agreement shall vest in accordance with Sections 7(a)(ii)(B) and 7(b)(ii)(B) of the LTIP.
Acceleration of Vesting Upon Retirement. Retirement means retirement by the Recipient after the Recipient reaches the age of 62 with a minimum of 5 years service, paying out at 50% and 100% payout when the Recipient reaches a combined age and service of 75 (e.g., age 65 with 10). The Company will pro-rate payout starting at age 62 with five years of service up to the 100% payout. For a grant to be accelerated, retirement should occur at least 6 months after Grant Date. In order to have a “Retirement,” the Recipient must be separated from the Company. The Cash Award will fully vest upon Retirement, but will be paid out at the end of the three- year period, with the payout determined based on the final performance determination. No payout shall be made if the Company does not achieve the Performance Metric Threshold.
Acceleration of Vesting Upon Retirement. The Committee, in its sole discretion, may accelerate the vesting of all or a portion of the shares of Restricted Stock awarded under this Agreement upon the Participant’s Retirement prior to the Vesting Date if the Committee determines, following consultation with the Chief Executive Officer, that the Participant’s Retirement will not be detrimental to the Company. For purposes of this Agreement, the term Retire or Retirement means , early or normal Retirement as defined in the Dominion Pension Plan, as in effect at the time of the determination.
Acceleration of Vesting Upon Retirement. If the Recipient terminates his or her Continuous Service after attaining age 62 (for reasons other than the reasons described in Sections 2(b) and 2(e) hereof) and completing at least five (5) years of Continuous Service (a “Retirement Termination”), the RSUs subject to this Agreement will continue to vest pursuant to the schedule set forth in subsection (a) above; provided, however, that, during the period (the “Restricted Period”) beginning on the date the Recipient has a Retirement Termination (the “Retirement Date”) and continuing until the date the RSUs are fully vested pursuant to the schedule set forth in subsection (a) above, the Recipient agrees that he or she will not, in any capacity (including, but not limited to, as an owner, member, partner, shareholder, consultant, advisor, financier, agent, employee, officer, director, manager or otherwise), whether directly or indirectly, engage in a Competitive Activity (as such term is hereinafter defined) or violate the non-solicitation restrictions set forth in Section 7(a). If the Recipient fails to comply with this provision, the Recipient will forfeit any unvested RSUs as of the date the Recipient violates this provision.
Acceleration of Vesting Upon Retirement. Retirement means separation from the Company by the Recipient after the Recipient reaches the age of 62 with a minimum of 5 years service, with 50% accelerated vesting when the Recipient retires after reaching minimum requirements and 100% accelerated vesting when the Recipient retires after reaching a combined age and service of 75 (e.g., age 65 with 10). The Company will pro-rate payout starting at age 62 with five years of service up to the 100% payout based upon the combined age and service of the Recipient above the minimum requirements. In order to have a “Retirement,” the Recipient must be separated from the Company. For a grant to be accelerated, separation from the Company pursuant to retirement must occur at least 6 months after Grant Date. Although the service condition described in Section 2a. will be treated as satisfied upon Retirement to the extent this Section 2d. prescribes, payout, if any, will be paid out at the end of the three-year period described in Section 2a., with the payout determined based on the final performance determination. No payout shall be made if the Company does not achieve the Performance Metric Threshold.
Acceleration of Vesting Upon Retirement. (i)If the Optionee has a Vesting Retirement Termination, the Option subject to this Agreement will continue to vest pursuant to the schedule set forth in Section 3 above; provided, however, that, during the period (the “Restricted Period”) beginning on the date the Optionee has a Vesting Retirement Termination (the “Retirement Date”) and continuing until the date the Option is fully vested pursuant to the schedule set forth in Section 3 above, the Optionee does not, in any capacity (including, but not limited to, as an owner, member, partner, shareholder, consultant, advisor, financier, agent, employee, officer, director, manager or otherwise), whether directly or indirectly, engage in a Competitive Activity (as such term is hereinafter defined) or violate the non-solicitation restrictions set forth in Section 10(a). If the Optionee fails to comply with this provision, any unvested portion of the Option as of the date the Optionee violates this provision shall terminate and be null and void.
Acceleration of Vesting Upon Retirement. The CGN Committee, in its sole discretion, may accelerate the vesting of all or a portion of the shares of Restricted Stock awarded under this Agreement upon the Participant’s Retirement prior to the Vesting Date if the Committee determines, following consultation with the Chief Executive Officer, that the Participant’s Retirement will not be detrimental to the Company.
