Common use of Continued Vesting Upon Early Retirement Clause in Contracts

Continued Vesting Upon Early Retirement. The Performance Shares shall, notwithstanding any other provisions of this Section 1.3, continue to vest according to the PSA 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 payment of the Performance Shares or the Participant’s reaching the age of sixty-five (65). Any such continued vesting of the Performance Shares pursuant to this Section 1.3(b) will not result in an acceleration of the PSA Payment Date (as defined in Section 1.4), since the number of Shares earned from the Performance Shares shall be calculated after the completion of the Performance Period.

Continued Vesting Upon Early Retirement. The Performance Shares Units shall, notwithstanding any other provisions of this Section 1.3, continue to vest according to the PSA PSU 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 payment of the Performance Shares Units or the Participant’s 's reaching the age of sixty-five (65). Any such continued vesting of the Performance Shares Units pursuant to this Section 1.3(b) will not result in an acceleration of the PSA PSU Payment Date (as defined in Section 1.4), since the number of Shares earned from the Performance Shares Units shall be calculated after the completion of the Performance Period.

Continued Vesting Upon Early Retirement. The Performance Shares Units shall, notwithstanding any other provisions of this Section 1.3, continue to vest according to the PSA PSU 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 payment of the Performance Shares Units or the Participant’s 's reaching the age of sixty-five (65). Any such continued vesting of the Performance Shares Units pursuant to this Section 1.3(b) will not result in an acceleration of the PSA PSU Payment Date (as defined in Section 1.4), since because the number of Shares earned from the Performance Shares Units shall be calculated after the completion of the Performance Period.

Continued Vesting Upon Early Retirement. The Performance Shares Units shall, notwithstanding any other provisions of this Section 1.3, continue to vest according to the PSA PSU 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 payment of the Performance Shares Units or the Participant’s reaching the age of sixty-five (65). Any such continued vesting of the Performance Shares Units pursuant to this Section 1.3(b) will not result in an acceleration of the PSA PSU Payment Date (as defined in Section 1.4), since the number of Shares earned from the Performance Shares Units shall be calculated after the completion of the Performance Period.

Continued Vesting Upon Early Retirement. The Performance Shares shall, notwithstanding any other provisions of this Section 1.3, continue to vest according to the PSA 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 payment settlement of the Performance Shares or the Participant’s reaching the age of sixty-five (65). Any such continued vesting of the Performance Shares pursuant to this Section 1.3(b) will not result in an acceleration of the PSA Payment Settlement Date (as defined in Section 1.4), since the number of Shares earned from the Performance Shares shall be calculated after the completion of the Performance Period.