Common use of Retirement of Grantee Clause in Contracts

Retirement of Grantee. In the event that the Grantee ceases to be an Employee due to his or her Retirement (as defined below) prior to the Vesting Date, the Restricted Stock Units will vest and be settled by the Company through the issuance of Shares to the Grantee on a date as soon as practicable after the date of the Grantee’s Retirement. For the purposes of this Agreement, “Retirement” shall mean a termination of employment for any reason, other than “Cause” (as defined below in paragraph 12), after attaining age fifty-five (55) and after having at least ten (10) years of continuous service with the Company.

Retirement of Grantee. In the event that the Grantee ceases to be an Employee due to his or her Retirement (as defined below) prior to the Vesting Settlement Date, the Restricted Stock Units will continue to vest pursuant to paragraph 4 and be settled by the Company through the issuance of Shares to the Grantee, regardless of whether or not the Grantee is then employed by the Company, on a date as soon as practicable after the date of the Grantee’s RetirementSettlement Date. For the purposes of this Agreement, “Retirement” shall mean a termination of employment for any reason, other than “Cause” (as defined below in paragraph 1211), after attaining age fifty-five (55) and after having at least ten (10) years of continuous service with the Company.

Retirement of Grantee. In the event that the Grantee ceases to be an Employee due to his or her Retirement (as defined below) prior to the Vesting Date, the Restricted Stock Units will vest and be settled by the Company through the issuance of Shares to the Grantee on a date as soon as practicable after in accordance with the date of the Grantee’s Retirement. provisions specified in Appendix B. For the purposes of this Agreement, “Retirement” shall mean a termination of employment by the Company for any reason, other than “Cause” (as defined below in paragraph 12), after attaining age fifty-five (55) and after having at least ten (10) years of continuous service with the Company. For avoidance of doubt, a Grantee’s election to voluntarily terminate his or her employment due to Retirement will not entitle the Grantee to vesting and settlement of the Restricted Stock Units as otherwise contemplated by this Section 11.