Common use of Effect of Retirement Clause in Contracts

Effect of Retirement. Notwithstanding paragraph 5 hereof, if the Employee incurs a Separation From Service by reason of Retirement prior to the earlier of the third anniversary of the Date of Grant or the occurrence of a Vesting Date, the Performance Stock Units shall not be forfeited upon such Separation from Service, and subject to paragraph 8, shall be paid in accordance with, and subject to, the terms of paragraphs 7 and 9 hereof and the Plan Documents.

Effect of Retirement. Notwithstanding paragraph 5 hereof, if the Employee incurs a Separation From Service by reason of Retirement prior to the earlier of the third anniversary of the Date of Grant or the occurrence of a Vesting DateDate by reason of Retirement, the Performance Restricted Stock Units shall not be forfeited upon such Separation from Service, and subject to paragraph 8, shall be paid in accordance with, and subject to, the terms of paragraphs 7 and 9 8 hereof and the Plan Documents.

Effect of Retirement. Notwithstanding paragraph 5 hereof, if the Employee incurs a Separation From Service prior to a Vesting Date by reason of Retirement prior to the earlier of the third anniversary of the Date of Grant or the occurrence of a Vesting DateRetirement, the Performance Stock Units shall not be forfeited upon such Separation from Service, and subject to paragraph 8, shall be paid in accordance with, and subject to, the terms of paragraphs paragraph 7 and 9 hereof and the Plan Documents.