Normal or Early Retirement Clause Samples

Normal or Early Retirement. Each Participant who attains his Normal Retirement Age or, if so provided by the Employer in Section 1.06(b), Early Retirement Age, will have a 100-percent nonforfeitable interest in his Account regardless of any vesting schedule elected in Section 1.07. If a Participant retires upon the attainment of Normal or Early Retirement Age, such retirement is referred to as a normal retirement. Upon his normal retirement the balance of the Participant's Account, plus any amounts thereafter credited to his Account, subject to the provisions of Section 7.08, will be distributed to him in accordance with Article 8. If a Participant separates from service before satisfying the age requirements for early retirement, but has satisfied the service requirement, the Participant will be entitled to elect an early retirement distribution upon satisfaction of such age requirement.

Normal or Early Retirement. Each Participant who continues in employment as an Employee until his Normal Retirement Age or, if so provided by the Employer in Subsection 1.14(b) of the Adoption Agreement, Early Retirement Age, shall have a vested interest in his Account of 100 percent regardless of any vesting schedule elected in Section 1.16 of the Adoption Agreement. If a Participant retires upon the attainment of Normal or Early Retirement Age, such retirement is referred to as a normal retirement.

Normal or Early Retirement. Each Participant who attains his Normal -------------------------- Retirement Age or, if so provided by the Employer in Section 1.06(b)

Normal or Early Retirement. If the Grantee’s service with the Company (or any Subsidiary) terminates by reason of Normal or Early Retirement, the Options shall continue to vest in accordance with their terms and any vested Options may be exercised, in each case, until (i) eighteen (18) moths following the Grantee’s termination of service or (ii) the expiration of the Option Term, whichever is earlier; provided, however, that in the event the Grantee’s service terminates by reason of Early or Normal Retirement during the period specified in this Section 4(d) and the Grantee violates his obligations under Section 7(a) hereof, the Company reserves the right, upon notice to the Grantee, to declare that the Options shall be forfeited and of no further validity; and provided, further, that if the Grantee dies after Retirement and during the period specified in this Section 4(d), the vesting of the Options shall be accelerated and Options shall remain exercisable until the later of (x) the date otherwise determined under this Section 4(d) or (y) the first anniversary of the date of the Grantee’s death;