Common use of Retirement on or After Age 62 Clause in Contracts

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 PEPunits granted hereunder shall become fully vested on the Participant’s last day of active employment with the Company. All such vested PEPunits shall remain subject to the earning and forfeiture provisions of Paragraphs A.2 and A.3.

Appears in 4 contracts

Samples: Annual Long Term Incentive Award Agreement, Long Term Incentive Award Agreement (Pepsico Inc), Long Term Incentive Award Agreement (Pepsico Inc)

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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 PEPunits PEPUnits granted hereunder shall become fully vested on the Participant’s last day of active employment with the Company. All such vested PEPunits PEPUnits shall remain subject to the earning and forfeiture provisions of Paragraphs A.2 and A.3.

Appears in 1 contract

Samples: Long Term Incentive Award (Pepsico Inc)

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