Common use of Acceleration on Normal Retirement Clause in Contracts

Acceleration on Normal Retirement. After Recipient attains age 65, outstanding but unvested RSUs shall become vested each calendar year in an amount determined by multiplying the total number of RSUs subject to this Agreement by the Pro Rata Percentage as of the earlier of December 31 of the year or the date of Recipient’s termination of employment. The delivery date shall also be accelerated.

Acceleration on Normal Retirement. After Recipient attains age 65, outstanding but unvested RSUs shall become vested each calendar year in an amount determined by multiplying the total number of RSUs subject to this Agreement by the Pro Rata Percentage as of the earlier of December 31 of the year or the date of Recipient’s termination of employment; provided, however, that the number of RSUs so vested shall be reduced by the number of any RSUs that previously vested pursuant to Section 1(b). The delivery date shall also be accelerated.