Common use of Attainment of Retirement Age Without Termination Clause in Contracts

Attainment of Retirement Age Without Termination. Settlement of vested Restricted Stock Units that vest in accordance with Subparagraph 2(b) to a Participant who continues Service through the third anniversary of the Award Date shall be made as soon as administratively practicable after the Restricted Stock Units would have otherwise vested by reason of Subparagraphs 2(a) or 2(c), but in no event after the later of (i) the 15th day of the third calendar month following the applicable date in Subparagraph 2(a) or 2(c), or (ii) the end of the calendar year in which the applicable date in Subparagraph 2(a) or 2(c) occurred, provided that in the case of a specified employee who vested in accordance with Subparagraph 2(b) such settlement shall be paid six months after termination. Settlement will be made by payment in shares of Common Stock. The Company shall not be obligated to deliver any shares of Common Stock if counsel to the Company determines that such sale or delivery would violate any applicable law or any rule or regulation of any governmental authority or any rule or regulation of, or agreement of the Company with, any securities exchange or association upon which the Common Stock is listed or quoted. The Company shall in no event be obligated to take any affirmative action in order to cause the delivery of shares of Common Stock to comply with any such law, rule, regulation or agreement.

Attainment of Retirement Age Without Termination. Settlement of vested Restricted Stock Units that vest in accordance with Subparagraph 2(b) to a Participant who continues Service employment through the third anniversary of the Award Date shall be made as soon as administratively practicable after the Restricted Stock Units would have otherwise vested by reason of Subparagraphs 2(a) or 2(c), but in no event after the later of (i) the 15th day of the third calendar month following the applicable date in Subparagraph 2(a) or 2(c), or (ii) the end of the calendar year in which the applicable date in Subparagraph 2(a) or 2(c) occurred, provided that in the case of a specified employee who vested in accordance with Subparagraph 2(b) such settlement shall be paid six months after termination. Settlement will be made by payment in shares of Common Stock. The Company shall not be obligated to deliver any shares of Common Stock if counsel to the Company determines that such sale or delivery would violate any applicable law or any rule or regulation of any governmental authority or any rule or regulation of, or agreement of the Company with, any securities exchange or association upon which the Common Stock is listed or quoted. The Company shall in no event be obligated to take any affirmative action in order to cause the delivery of shares of Common Stock to comply with any such law, rule, regulation or agreement.