Death, Disability and Retirement. If the Executive's employment is terminated by reason of the Executive's death, Disability, or retirement on or after the attainment of age sixty-five (65), the Company shall have no further obligations to the Executive's legal representatives under this Agreement other than payment of the Accrued Obligations. If the Executive's employment is terminated by reason of the Executive's death or Disability, the Company shall have the additional obligation, subject to the terms of the Incentive Plan and further provided that the Executive has been employed by the Company for the first six (6) months of the then applicable fiscal year, to pay a cash amount equal to a portion of the Incentive Bonus, the product of a fraction, the numerator of which is the number of days elapsed since the date the Incentive Plan began for the applicable fiscal year through the date of the Disability or the date of death of the Executive, and the denominator of which is the total number of days of the applicable fiscal year for such Incentive Plan. Unless otherwise directed by the Executive (or, in the case of the Incentive Plan or a Qualified Plan, as may be required by such Incentive Plan or Qualified Plan) all Accrued Obligations shall be paid to the Executive, his beneficiaries or his estate, as applicable, in a lump sum in cash within thirty (30) days of the Date of Termination. In the event of the termination of the Executive by reason of retirement on or after the attainment of age sixty-five (65), death or Disability, he and/or his named beneficiaries, as the case may be, shall be entitled to the benefits available through the Company sponsored plans and programs designated for such category of termination on Schedule A. With regard to the termination of the Executive's employment by reason of retirement on or after the attainment of age sixty-five (65) or Disability, the Company shall pay the premiums (to the same extent paid prior to the termination of employment) for the continued participation of the Executive for a period of six (6) months after the Date of Termination in any individual life insurance policy on the same terms as the Executive and the Company were participating prior to the Date of Termination. Further, with regard to the termination of the Executive's employment by reason of the Executive's death, retirement on or after the attainment of age sixty-five (65) or Disability, the Company shall, for a period of six (6) months after the Executive's Date of Te...
Death, Disability and Retirement. If the Executive's employment is terminated by reason of the Executive's death, Disability, or retirement on or after the attainment of age sixty-five (65), the Company shall have no further obligations to the Executive's legal representatives under this Agreement other than payment of the Accrued Obligations. If the Executive's employment is terminated by reason of the Executive's death or Disability, the Company shall have the additional obligation, subject to the terms of the Incentive Plan and further provided that the Executive has been employed by the Company for the first six (6) months of the then applicable fiscal year, to pay a cash amount equal to a portion of the Incentive Bonus, the product of a fraction, the numerator of which is the number of days elapsed since the date the Incentive Plan began for the applicable fiscal year through the date of the Disability or the date of death of the Executive, and the denominator of which is the total number of days of the applicable fiscal year for such Incentive Plan. Unless otherwise directed by the Executive (or, in the case of the Incentive Plan or a Qualified Plan, as may be required by such Incentive Plan or Qualified Plan) all Accrued Obligations shall be paid to the Executive, his beneficiaries or his estate, as applicable, in a lump sum in cash within thirty (30) days of the Date of Termination.
Death, Disability and Retirement. For avoidance of doubt, the termination of Executive’s Employment as a result of death, Disability or Retirement shall not constitute a Termination Without Cause triggering the rights described in Section 6(c)(i); provided, however, that Executive’s outstanding equity-based awards shall be treated in accordance with Section 6(b) above, with Executive’s personal representative signing the Release on behalf of Executive’s estate and Executive’s equity-based awards being exercised by, or paid to, Executive’s personal representative or such other successor in interest to Executive, as applicable.
Death, Disability and Retirement. The Employer Account and Matching Account of each Participant who reaches Early Retirement Age or Normal Retirement Age while an Employee shall become completely nonforfeitable on such date. The Employer Account and Matching Account of each Participant who dies while an Employee or who becomes Disabled while an Employee
8.1 (b)
(1) Standard Option - shall become completely nonforfeitable on such date.
Death, Disability and Retirement. In the event that the Optionee’s employment with the Company and/or any Affiliate or Subsidiary terminates by reason of death, Disability or Retirement, the exercisability of the Options shall accelerate and become fully exercisable as of the date of such death, Disability or Retirement.
Death, Disability and Retirement. If Participant experiences a Termination of Service after the Grant Date due to Participant’s death or Disability, or after the first anniversary of the Grant Date due to Participant’s Retirement, then a portion of the PSU Award, calculated by multiplying the Target PSUs by a fraction, the numerator of which is equal to the number of days worked by Participant during the Performance Period and the denominator of which is the total number of days in the Performance Period (the “Prorated Portion”), shall remain outstanding and eligible to vest in accordance with Section 2(a) based on the actual level of achievement of the Performance Goals, so long as Participant does not breach any restrictive covenants set forth in any written agreement between Participant and the Company (it being understood that in the event of any such breach prior to the Vesting Date, the Prorated Portion shall be immediately forfeited). For purposes hereof, “Retirement” means a Termination of Service on or after reaching the minimum retirement age adopted by the Company for its executives generally as in effect at the time of such Termination of Service (or, if earlier, as in effect immediately prior to a Change in Control). For the avoidance of doubt, the Target PSUs that do not constitute the Prorated Portion shall be forfeited as of the date of Termination of Service.
Death, Disability and Retirement. Notwithstanding the provisions of Section 4.1 above, if the Grantee ceases to be employed by the Company as a result of the Grantee’s death, retirement (in accordance with the Company’s Retirement Benefit then in effect), or “Permanent Total Disability” (as defined in the following sentence), each Award shall not expire and shall remain outstanding until the Settlement Date. The Grantee shall be considered to have suffered a Permanent Total Disability if the Committee determines that the Grantee is permanently unable to earn any wages in the same or other employment.
Death, Disability and Retirement. If a Participant terminates Continuous Service as a result of death, Disability or Retirement, all Performance Shares earned for the Performance Period completed prior to such termination shall Vest following such termination of Continuous Service. Performance Shares earned for the Performance Period in which the termination occurs shall be Vested on a pro rata basis based on the Participant's service during the Performance Period and the actual achievement of performance criteria for such Performance Period. No Performance Shares shall be earned for any Performance Period that begins after the Participant terminates Continuous Service.
Death, Disability and Retirement. If the Holder’s employment terminates due to (i) death, (ii) Disability or (iii) retirement after having reached both 60 years of age and five years of service before the last day of the Performance Award Period, all unvested Performance Units (at target) shall automatically become 100% vested on the Holder’s date of termination.
Death, Disability and Retirement. In the event that the Optionee’s employment with the Company and/or any Affiliate or Subsidiary terminates by reason of death, Disability or Retirement the Options shall remain exercisable until the earlier of (a) the Expiration Date, or (b) 12 months after the date of such termination. In the case of the Optionee’s death, the Optionee’s beneficiary or estate may exercise the Options.
