Common use of Retirement at or after Attainment of Age 66 Clause in Contracts

Retirement at or after Attainment of Age 66. If the Employee has a Separation from Service on or after January 1, 2014 but prior to the Release Date by reason of retirement at or after attainment of age 66, then on the date of the Employee’s Separation from Service the Award shall become nonforfeitable and the Restriction Period with respect to the Award shall terminate. The Company shall issue the shares of Common Stock subject to the Award in a single payment within sixty (60) days following the date of the Employee’s Separation from Service; provided, however, that if the Award is subject to section 409A of the Code, and if the Employee is a Specified Employee as of the date of his or her Separation from Service, then such payment shall be delayed until and made during the seventh calendar month following the calendar month during which the Employee’s Separation from Service occurs (or, if earlier, the calendar month following the calendar month of the Employee’s death). If the Employee has a Separation from Service prior to January 1, 2014 by reason of retirement at or after attainment of age 66, then on the date of the Employee’s Separation from Service the Award shall be forfeited and shall be canceled by the Company.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Telephone & Data Systems Inc /De/)

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Retirement at or after Attainment of Age 66. If the Employee has a Separation from Service on or after January 1, 2014 2018 but prior to the Release Three-Year Anniversary Date by reason of retirement at or after attainment of age 66, then on the date of the Employee’s Separation from Service the Award shall become nonforfeitable and the Restriction Period with respect to the Award shall terminate. The Company shall issue the shares of Common Stock subject to the Award in a single payment within sixty (60) days following the date of the Employee’s Separation from Service; provided, however, that if the Award is subject to section 409A of the Code, and if the Employee is a Specified Employee as of the date of his or her Separation from Service, then such payment shall be delayed until and made during the seventh calendar month following the calendar month during which the Employee’s Separation from Service occurs (or, if earlier, the calendar month following the calendar month of the Employee’s death). If the Employee has a Separation from Service prior to January 1, 2014 2018 by reason of retirement at or after attainment of age 66, then on the date of the Employee’s Separation from Service the Award shall be forfeited and shall be canceled by the Company.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (United States Cellular Corp)

Retirement at or after Attainment of Age 66. If the Employee has a Separation from Service on or after January 1, 2014 2011 but prior to the Release Six-Year Anniversary Date by reason of retirement at or after attainment of age 66, then on the date of the Employee’s Separation from Service the Award shall become nonforfeitable and the Restriction Period with respect to the Award shall terminate. The Company shall issue the shares of Common Stock subject to the Award in a single payment within sixty (60) days following the date of the Employee’s Separation from Service; provided, however, that if the Award is subject to section § 409A of the Code, and if the Employee is a Specified Employee as of the date of his or her Separation from Service, then such payment shall be delayed until and made during the seventh calendar month following the calendar month during which the Employee’s Separation from Service occurs (or, if earlier, the calendar month following the calendar month of the Employee’s death). If the Employee has a Separation from Service prior to January 1, 2014 2011 by reason of retirement at or after attainment of age 66, then on the 2005 LTI Plan / 2010 Restricted Stock Unit Award Agreement date of the Employee’s Separation from Service the Award shall be forfeited and shall be canceled by the Company.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (United States Cellular Corp)

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Retirement at or after Attainment of Age 66. If the Employee has a Separation from Service on or after January 1, 2014 2013 but prior to the Release Date by reason of retirement at or after attainment of age 66, then on the date of the Employee’s Separation from Service the Award shall become nonforfeitable and the Restriction Period with respect to the Award shall terminate. The Company shall issue the shares of Common Stock subject to the Award in a single payment within sixty (60) days following the date of the Employee’s Separation from Service; provided, however, that if the Award is subject to section 409A of the Code, and if the Employee is a Specified Employee as of the date of his or her Separation from Service, then such payment shall be delayed until and made during the seventh calendar month following the calendar month during which the Employee’s Separation from Service occurs (or, if earlier, the calendar month following the calendar month of the Employee’s death). If the Employee has a Separation from Service prior to January 1, 2014 2013 by reason of retirement at or after attainment of age 66, then on the date of the Employee’s Separation from Service the Award shall be forfeited and shall be canceled by the Company.

Appears in 1 contract

Samples: Telephone and Data (Telephone & Data Systems Inc /De/)

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