Retirement on or After Age 62. If the Participant’s employment terminates by reason of the Participant’s Retirement after attaining at least age 62, then the LTC Award granted hereunder shall become fully vested on the Participant’s last day of active employment with the Company. Any such vested LTC Award shall remain subject to the earning and forfeiture provisions of Paragraph B.3 and shall be paid on the original LTC Payment Date.
Appears in 5 contracts
Samples: 2023 Pepsico Annual Long Term Incentive Award (Pepsico Inc), 2024 Pepsico Annual Long Term Incentive Award (Pepsico Inc), 2022 Pepsico Annual Long Term Incentive Award (Pepsico Inc)
Retirement on or After Age 62. If the Participant’s employment terminates by reason of the Participant’s Retirement after attaining at least age 62, then the LTC Award granted hereunder shall become fully vested on the Participant’s last day of active employment with the Company. Any such vested LTC Award shall remain subject to the earning and forfeiture provisions of Paragraph Paragraphs B.2 and B.3 and shall be paid on the original LTC Payment Date.
Appears in 3 contracts
Samples: Pepsico Performance Stock Units / Long Term Cash Award (Pepsico Inc), Performance Stock Units / Long Term Cash Award Agreement (Pepsico Inc), Performance Stock Units / Long Term Cash Award Agreement (Pepsico Inc)
Retirement on or After Age 62. If the Participant’s employment terminates by reason of the Participant’s Retirement after attaining at least age 62, then the LTC Award granted hereunder shall become fully vested on the Participant’s last day of active employment with the CompanyCompany (which, for purposes of Total Disability, means the effective date of Total Disability). Any such vested LTC Award shall remain subject to the earning and forfeiture provisions of Paragraph B.3 Paragraphs B.2 and shall be paid on the original LTC Payment DateB.3.
Appears in 3 contracts
Samples: Annual Long Term Incentive Award Agreement, Long Term Incentive Award (Pepsico Inc), Long Term Incentive Award (Pepsico Inc)
Retirement on or After Age 62. If the Participant’s employment terminates by reason of the Participant’s Retirement after attaining at least age 62, then the LTC Award granted hereunder shall become fully vested on the Participant’s last day of active employment with the Company. Any such vested LTC Award shall remain subject to the earning and forfeiture provisions of Paragraph Paragraphs B.2 and B.3 and shall be paid on the original LTC Payment Date.
Appears in 2 contracts
Samples: Performance Stock Units / Long Term Cash Award Agreement (Pepsico Inc), Performance Stock Units / Long Term Cash Award Agreement (Pepsico Inc)
Retirement on or After Age 62. If the Participant’s employment terminates by reason of the Participant’s Retirement after attaining at least age 62, then the LTC Award granted hereunder shall become fully vested on the Participant’s last day of active employment with the Company. Any such vested LTC Award shall remain subject to the earning and forfeiture provisions of Paragraph B.3 Paragraphs B.2 and shall be paid on the original LTC Payment DateB.3.
Appears in 2 contracts
Samples: Long Term Incentive Award Agreement (Pepsico Inc), Long Term Incentive Award Agreement (Pepsico Inc)
