Retirement, etc. If Participant is an employee of the Company and ceases to be an employee due to retirement with the consent of the Administrator, Participant will be entitled to a special exercise period with respect to the Option (the “Special Exercise Period”) which will begin on Participant’s Retirement Date and will end on the earlier of the 4th anniversary of Participant’s Retirement Date or the expiration date specified in Section 1.4 above. During the Special Exercise Period, the Option will continue to vest in accordance with the schedule specified in Section 1.3 above and will be exercisable to the same extent that it would have been exercisable had Participant remained in service with the Company or one of its subsidiaries. As used herein the term “retirement with the consent of the Administrator” means that Participant’s retirement must be with the consent of the Administrator, which consent may be granted or withheld in the discretion of the Administrator. In the event that Participant ceases to be an employee under circumstances that would otherwise qualify for retirement but the consent of the Administrator has not been granted, then Participant shall not be entitled to the benefits of this Section 2.3.
Retirement, etc. If Participant is an employee of the Company and ceases to be an employee due to retirement with the consent of the Administrator, Participant will be entitled to immediate Vesting of all unvested RSUs awarded pursuant to this Agreement. As used herein the term “retirement with the consent of the Administrator” means that Participant’s retirement must be with the consent of the Administrator, which consent may be granted or withheld in the discretion of the Administrator. In the event that Participant ceases to be an employee under circumstances that would otherwise qualify for retirement but the consent of the Administrator has not been granted, then Participant shall not be entitled to the benefits of this Section 2.3.
Retirement, etc. (a) If Executive retires after reaching age 65, or (b) if Executive becomes substantially or completely disabled other than as a result of reckless misconduct on his own part, or (c) if Executive dies on or after December 31, 2007, then he (or his estate, as the case may be,) shall be entitled to a lump-sum payment in an amount equal to one-half of the Change of Control Payment, such payment to be due upon completion of the Change of Control. However, if no Change of Control has occurred prior to January 1, 2017, then no payment shall be due under this section.
Retirement, etc. If Executive ceases to be an employee due to retirement at age 54 with 10 years of continuous service, Executive will be entitled to immediate vesting of all outstanding unvested RSUs and stock option awards granted to Executive after the Effective Date. In the event that future RSU awards include a performance based vesting feature, vesting will continue based on achievement of the performance metrics after the Executive ceases to be an employee due to retirement. Executive acknowledges that the protections of this Section 9 may result for tax purposes in the lapse of a “substantial risk of forfeiture” with respect to any outstanding and unvested RSU awards at the time of Executive’s attainment of retirement eligibility (rather than upon any later actual retirement or scheduled vesting) and that, accordingly, Executive may owe FICA tax with respect to such awards prior to actual delivery of the shares. Reference is made to the RSU and stock option awards made to Executive in 2011 and prior to the date hereof (the “0000 XXX award” and the “2011 stock option award,” respectively). The provisions of this Section 9 shall apply to accelerate vesting under the 0000 XXX award and the 2011 stock option award in respect of any retirement in accordance with this Section 9 prior to scheduled vesting; provided, that if acceleration of the last vesting tranche under the 0000 XXX award occurs by reason of this Section 9, the shares relating to the portion so accelerated shall be delivered to Executive immediately upon retirement; and further provided, that if Executive does not retire under circumstances requiring an acceleration of the 0000 XXX award, the shares underlying the last tranche of such award (unless earlier forfeited) shall be delivered immediately upon scheduled vesting on February 19, 2015 and in all events by March 15, 2015. Any RSU award granted to Executive after the date hereof shall contain terms consistent with this Agreement, including this Section 9. For purposes of this section, all options that either have vested prior to retirement or that vest upon retirement will be eligible for exercise for the lesser of four (4) years or the expiration date of the options.
Retirement, etc. Employees may remain employed until the end of the month that they turn 67 years old, unless otherwise stated in this agreement. Employees reach the retirement age of the SAF-LO occupational pension agreement at the start of the calendar month that they turn 65 years old.
Retirement, etc. OF GENERAL PARTNERS.
Retirement, etc. If Employee ceases to be an employee due to retirement with the consent of the Administrator, Employee will be entitled to: (i) a special exercise period with respect to the Option (the “Special Exercise Period”) which will begin on Employee’s Retirement Date and will end on the earlier of the 3rd anniversary of Employee’s Retirement Date or February 21, 2015. During the Special Exercise Period, the Option will continue to vest in accordance with the schedule specified in Section 2.3 above and will be exercisable to the same extent that it would have been exercisable had Employee remained employed by the Company or one of its subsidiaries; and (ii) a special award vesting period with respect to the Performance Shares (the “Special Award Vesting Period”) which will begin on Employee’s Retirement Date and will end on the earlier of the 3rd anniversary of Employee’s Retirement Date or the Award Expiration Date. During the Special Award Vesting Period, all Performance Shares will continue to be earned in accordance with the terms of the Award provided in Article I above and Performance Shares will be issued to the same extent that they would have been issued had Employee remained employed by the Company or one of its subsidiaries; all Performance Shares issued in accordance herewith shall be vested and free of restrictions.
Retirement, etc. If Executive ceases to be an employee due to retirement at age 50 with 10 years of continuous service, Executive will be entitled to immediate vesting of all outstanding unvested RSUs and stock option awards granted to Executive after the Effective Date. In the event that future RSU awards include a performance based vesting feature, vesting will continue based on achievement of the performance metrics after the Executive ceases to be an employee due to retirement. Executive acknowledges that the protections of this Section 9 may result for tax purposes in the lapse of a “substantial risk of forfeiture” with respect to any outstanding and unvested RSU awards at the time of Executive’s attainment of retirement eligibility (rather than upon any later actual retirement or scheduled vesting) and that, accordingly, Executive may owe FICA tax with respect to such awards prior to actual delivery of the shares. Any RSU award granted to Executive after the date hereof shall contain terms consistent with this Agreement, including this Section 9. For purposes of this section, all options that either have vested prior to retirement or that vest upon retirement will be eligible for exercise for the lesser of four (4) years or the expiration date of the options.
Retirement, etc. If Employee ceases to be an employee due to: (1) retirement at Normal Retirement Age (as defined in the Entegris, Inc. 401(k) Savings and Profit Sharing Plan (2005 Restatement), as amended; or (2) retirement on or after age 62 and with ten years of Eligibility Service (also as defined in the Entegris, Inc. 401(k) Savings and Profit Sharing Plan (2005 Restatement), as amended) with the Company, Employee will be entitled to: (i) immediate Vesting of all unvested Restricted Stock awarded pursuant to Article I above and of all shares of Stock earned but unvested with respect to Performance Share Units in accordance with Article II above; and (ii). a special award vesting period (the “Special Award Vesting Period”) which will begin on Employee’s Retirement Date and will end on the earlier of the 3rd anniversary of Employee’s Retirement Date or the Award Expiration Date. During the Special Award Vesting Period, all shares of Stock will continue to be earned in accordance with the terms of the Award and shares of Stock will be issued to the same extent that they would have been issued had Employee remained employed by the Company or one of its subsidiaries.
Retirement, etc. In order to effectuate his retirement, Xx. XXXXXXX’x employment with the COMPANY shall terminate as of October 1, 2007 (the “Retirement Date”). He shall work until that date unless otherwise instructed by the COMPANY. Also effective as of the Retirement Date, Xx. XXXXXXX shall cease to hold any office or title at the COMPANY; provided, however, that Xx. XXXXXXX shall remain on the COMPANY’s Board of Directors in accordance with the COMPANY’s Bylaws and the California Corporations Code. On or before the Retirement Date, the COMPANY shall pay to Xx. XXXXXXX any then unpaid compensation earned by him through the Retirement Date, including, but not limited to payment for accrued but unused vacation, which vacation payment the parties stipulate shall be in the gross amount of $30,000 subject to regular payroll withholdings and deductions.
