Common use of Additional Vesting upon Retirement of Employee Clause in Contracts

Additional Vesting upon Retirement of Employee. In the event that the Employee is age sixty (60) or over and completes at least ten (10) Years of Service and then incurs a Termination of Service due to Retirement, the right to exercise all or a portion of any shares subject to this option that remain unexercisable immediately prior to such Retirement shall vest on the date on which the Retirement occurs as follows: (a) if the Employee has less than fifteen (15) Years of Service as of the date of his or her Retirement, fifty percent (50%) of the shares that otherwise would have vested during the twelve (12) months immediately following the Retirement (had the Employee remained an Employee throughout such twelve (12) month period) shall vest on the Retirement date; (b) if the Employee has at least fifteen (15) (but less than twenty (20)) Years of Service as of the date of the Retirement, one hundred percent (100%) of the shares that otherwise would have vested during the twelve (12) months immediately following the Retirement (had the Employee remained an Employee throughout such twelve (12) month period) shall vest on the Retirement date; (c) if the Employee has at least twenty (20) (but less than twenty-five (25)) Years of Service as of the date of the Retirement, (i) one hundred percent (100%) of the shares that otherwise would have vested during the twelve (12) months immediately following the Retirement (had the Employee remained an Employee throughout such twelve (12) month period) shall accrue on the Retirement date, and (ii) fifty percent (50%) of the shares that otherwise would have vested during the second twelve (12) months following the Retirement (had the Employee remained an Employee throughout such second twelve (12) month period) shall vest on the Retirement date; and (d) if the Employee has at least twenty-five (25) Years of Service as of the date of the Retirement, one hundred percent (100%) of the shares that otherwise would have vested during the twenty-four (24) months immediately following the Retirement (had the Employee remained an Employee throughout such twenty-four (24) month period) shall vest on the Retirement date.

Additional Vesting upon Retirement of Employee. In the event that the Employee is age sixty (60) or over and completes at least ten (10) Years of Service and then incurs a Termination of Service due to Retirement, the right to exercise all or a portion of any shares subject to this option that remain unexercisable immediately prior to such Retirement shall vest on the date on which the Retirement occurs as follows: (a) if the Employee has less than fifteen (15) Years of Service as of the date of his or her Retirement, fifty percent (50%) of the shares that otherwise would have vested during the twelve (12) months immediately following the Retirement (had the Employee remained an Employee throughout such twelve (12) month period) shall vest on the Retirement date; (b) if the Employee has at least fifteen (15) (but less than twenty (20)) Years of Service as of the date of the Retirement, one hundred percent (100%) of the shares that otherwise would have vested during the twelve (12) months immediately following the Retirement (had the Employee remained an Employee throughout such twelve (12) month period) shall vest on the Retirement date; (c) if the Employee has at least twenty (20) (but less than twenty-five (25)) Years of Service as of the date of the Retirement, (i) one hundred percent (100%) of the shares that otherwise would have vested during the twelve (12) months immediately following the Retirement (had the Employee remained an Employee throughout such twelve (12) month period) shall accrue on the Retirement date, and (ii) fifty percent (50%) of the shares that otherwise would have vested during the second twelve (12) months following the Retirement (had the Employee remained an Employee throughout such second twelve (12) month period) shall vest on the Retirement date; and (d) if the Employee has at least twenty-five (25) Years of Service as of the date of the Retirement, one hundred percent (100%) of the shares that otherwise would have vested during the twenty-four (24) months immediately following the Retirement (had the Employee remained an Employee throughout such twenty-four (24) month period) shall vest on the Retirement date.

Additional Vesting upon Retirement of Employee. In the event that the Employee is age sixty (60) or over and completes at least ten (10) 10 Years of Service and then incurs a Termination of Service due to Retirement, the right to exercise all or a portion of any shares subject to this option that remain unexercisable immediately prior to such Retirement shall vest accrue on the date on which the Retirement occurs as follows: (a) if the Employee has less than fifteen (15) 15 Years of Service as of the date of his or her Retirement, fifty percent (50%) % of the shares that otherwise would have vested during the twelve (12) 12 months immediately following the Retirement (had the Employee remained an Employee throughout such twelve (12) 12 month period) shall vest accrue on the Retirement date; ; (b) if the Employee has at least fifteen (15) 15 (but less than twenty (20)) Years of Service as of the date of the Retirement, one hundred percent (100%) % of the shares that otherwise would have vested during the twelve (12) 12 months immediately following the Retirement (had the Employee remained an Employee throughout such twelve (12) 12 month period) shall vest accrue on the Retirement date; ; (c) if the Employee has at least twenty (20) 20 (but less than twenty-five (25)) Years of Service as of the date of the Retirement, (i) one hundred percent (100%) % of the shares that otherwise would have vested during the twelve (12) 12 months immediately following the Retirement (had the Employee remained an Employee throughout such twelve (12) 12 month period) shall accrue on the Retirement date, and (ii) fifty percent (50%) % of the shares that otherwise would have vested during the second twelve (12) 12 months following the Retirement (had the Employee remained an Employee throughout such second twelve (12) 12 month period) shall vest accrue on the Retirement date; and and (d) if the Employee has at least twenty-five (25) 25 Years of Service as of the date of the Retirement, one hundred percent (100%) % of the shares that otherwise would have vested during the twenty-four (24) 24 months immediately following the Retirement (had the Employee remained an Employee throughout such twenty-four (24) 24 month period) shall vest accrue on the Retirement date. "Retirement" and "Years of Service" are defined in the Plan. In general, "Retirement" means a Termination of Service by an Employee after he or she is at least age 60 and has completed at least 10 Years of Service, and "Years of Service" means full years of employment since the Employee's last hire date with the Company or an Affiliate (but giving credit for prior service under the non-401(k) Plan principles of Company North American Human Resources Policy No. 2-06, or any successor thereto).