Common use of Continued Vesting Upon Early Retirement Clause in Contracts

Continued Vesting Upon Early Retirement. The Units shall, notwithstanding any other provision of this Section 1.2, continue to vest according to the RSU Vesting Schedule after the termination of the Participant's employment with the Company or a subsidiary thereof if (i) such termination is the result of the Participant's retirement from the Company or a subsidiary thereof upon the Participant's having both reached the age of sixty (60) and completed twelve (12) years of service with the Company or a subsidiary thereof, and (ii) the Participant does not after such early retirement become employed on a full-time basis by a competitor of the Company prior to the earlier of the settlement of the Units or the Participant's reaching the age of sixty-five (65).

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (SM Energy Co), Restricted Stock Unit Award Agreement (SM Energy Co)

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Continued Vesting Upon Early Retirement. The Units shall, notwithstanding any other provision provisions of this Section 1.22.2, continue to vest according to the RSU Vesting Schedule after the termination of the Participant's ’s employment with the Company or a subsidiary thereof if (i) such termination is the result of the Participant's ’s retirement from the Company or a subsidiary thereof upon the Participant's ’s having both reached the age of sixty (60) and completed twelve (12) years of service with the Company or a subsidiary thereof, and (ii) the Participant does not after such early retirement become employed on a full-time basis by a competitor of the Company prior to the earlier of the settlement of the Units or the Participant's ’s reaching the age of sixty-five (65).

Appears in 2 contracts

Samples: Performance Share and Restricted Stock Unit Award Agreement (SM Energy Co), Performance Share and Restricted Stock Unit Award Agreement (St Mary Land & Exploration Co)

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Continued Vesting Upon Early Retirement. The Units shall, notwithstanding any other provision of this Section 1.2, continue to vest according to the RSU Vesting Schedule after the termination of the Participant's ’s employment with the Company or a subsidiary thereof if (i) such termination is the result of the Participant's ’s retirement from the Company or a subsidiary thereof upon the Participant's ’s having both reached the age of sixty (60) and completed twelve (12) years of service with the Company or a subsidiary thereof, and (ii) the Participant does not after such early retirement become employed on a full-time basis by a competitor of the Company prior to the earlier of the settlement of the Units or the Participant's ’s reaching the age of sixty-five (65).

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (SM Energy Co)

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