Common use of By Retirement Clause in Contracts

By Retirement. Shares which are vested as of the date of retirement at 65 or after age 55 with ten (10) years of service may be purchased until the earlier of: (i) the expiration date of this option; or (ii) the third anniversary date of such retirement. Shares which are not vested as of the date of retirement at age 65 or after age 55 with ten (10) years of service shall immediately become vested 100 percent.

By Retirement. Shares which are vested as of the date of retirement at 65 or after age 55 with ten (10) years of service service, including shares that become vested upon such retirement, may be purchased until the earlier of: (i) the expiration date of this option; or (ii) the third anniversary date of such retirement. Shares which are not vested as of the date of retirement at age 65 or after age 55 with ten (10) years of service shall immediately become vested 100 percent.