Common use of Retirement or Involuntary Termination by the Clause in Contracts

Retirement or Involuntary Termination by the. Company not for Cause (and not subject to Section 3(b)(iii)). In the event of Employee’s Retirement or an involuntary Termination of Employment by the Company not for Cause (other than a Termination not for Cause following a Change in Control), provided that the Employee executes a settlement agreement and release in such form as may be requested by the Company within 21 days (or such longer period as may be required by law) (and provided further that any period of revocation required by law has expired without Employee exercising his right to revoke his agreement to the settlement agreement and release), Restricted Stock not then or previously vested shall not then be forfeited, but thereafter shall be forfeited if there occurs a Forfeiture Event prior to the earlier of the Vesting Date for such Restricted Stock or Employee’s death. A “Forfeiture Event” shall be deemed to occur if, following Employee’s Retirement or Termination by the Company not for Cause, Employee renders services for any organization or engages (either as owner, investor, partner, stockholder, employer, employee, consultant, advisor, or director) directly or indirectly, in any business which is or becomes competitive with the Company, its subsidiaries or affiliates, or otherwise engaged in conduct violating Section 7.4(a), 7.4(b) or 7.4(c) of the Plan. However, following Employee’s Retirement or Termination by the Company not for Cause, it shall not constitute a Forfeiture Event if Employee purchases stock or other securities of an organization or business so long as the stock or other securities are listed upon a recognized securities exchange or traded over-the-counter and such investment does not represent a greater than five percent equity interest in the organization or business. If Employee does not sign a settlement agreement and release within the time period requested by the Company (or signs and then timely revokes his agreement to the settlement agreement and release), all Restricted Stock which is not vested at the date of Termination will be forfeited.

Retirement or Involuntary Termination by the. Company not for Cause (and not subject to Section 3(b)(iii4(c)). In the event of Employee’s Retirement or an involuntary Termination of Employment by the Company not for Cause (other than a Termination not for Cause following a Change in Control), Units not previously vested shall not then be forfeited provided that the Employee executes a settlement agreement and release in such form as may be requested by the Company within 21 days (or such longer period as may be required by law) (and provided further that any period of revocation required by law has expired without Employee exercising his right to revoke his agreement to the settlement agreement and release), Restricted Stock not then or previously vested shall not then be forfeited, but thereafter all unvested Units shall be forfeited if there occurs a Forfeiture Event prior to the earlier Settlement Date which would have applied in the absence of such Retirement or Termination of Employment. Upon such a Retirement or Termination of Employment, the Vesting Date for such Restricted Stock or Employee’s deaththen-outstanding Units that are vested at the date of Termination (if not already settled) and that become vested thereafter will be settled in accordance with the settlement terms set out on the Cover Page, giving effect to any valid deferral election of Employee then in effect. A “Forfeiture Event” shall be deemed to occur if, following Employee’s Retirement or Termination by the Company not for Cause, Employee renders services for any organization or engages (either as owner, investor, partner, stockholder, employer, employee, consultant, advisor, or director) directly or indirectly, in any business which is or becomes competitive with the Company, its subsidiaries or affiliates, or otherwise engaged in conduct violating Section 7.4(a), 7.4(b) or 7.4(c) of the Plan. However, following Employee’s Retirement or Termination by the Company not for Cause, it Employee shall not constitute a Forfeiture Event if Employee purchases be free to purchase stock or other securities of an organization or business so long as the stock or other securities are it is listed upon a recognized securities exchange or traded over-the-counter and such investment does not represent a greater than five percent equity interest in the organization or business. If Employee does not sign a settlement agreement and release within the time period requested by the Company (or signs and then timely revokes his agreement to the settlement agreement and release), all Restricted Stock which is not vested at the date of Termination will be forfeited.

Retirement or Involuntary Termination by the. Company not for Cause (and not subject to Section 3(b)(iii)). In the event of Employee’s Retirement or an involuntary Termination of Employment by the Company not for Cause (other than a Termination not for Cause following a Change in Control), provided that the Employee executes a settlement agreement and release in such form as may be requested by the Company within 21 days (or such longer period as may be required by law) (and provided further that any period of revocation required by law has expired without Employee exercising his right to revoke his agreement to the settlement agreement and release), Restricted Stock not then or previously vested shall not then be forfeited, but thereafter shall be forfeited if there occurs a Forfeiture Event prior to the earlier of the Vesting Date for such Restricted Stock or Employee’s death. A “Forfeiture Event” shall be deemed to occur if, following Employee’s Retirement or Termination by the Company not for Cause, Employee renders services for any organization or engages (either as owner, investor, partner, stockholder, employer, employee, consultant, advisor, or director) directly or indirectly, in any business which is or becomes competitive with the Company, its subsidiaries or affiliates, or otherwise engaged in conduct violating Section 7.4(a), 7.4(b) or 7.4(c) of the Plan. However, following Employee’s Retirement or Termination by the Company not for Cause, it shall not constitute a Forfeiture Event if Employee purchases stock or other securities of an organization or business so long as the stock or other securities are listed upon a recognized securities exchange or traded over-the-counter and such investment does not represent a greater than five percent equity interest in the organization or business. If Employee does not sign a settlement agreement and release within the time period requested by the Company (or signs and then timely revokes his agreement to the settlement agreement and release), all Restricted Stock which is not vested at the date of Termination will be forfeited.

Retirement or Involuntary Termination by the. Company not for Cause (and not subject to Section 3(b)(iii4(c)). In the event of Employee’s Retirement or an involuntary Termination of Employment by the Company not for Cause (other than a Termination not for Cause following a Change in Control), Units not previously vested shall not then be forfeited provided that the Employee executes a settlement agreement and release in such form as may be requested by the Company within 21 days (or such longer period as may be required by law) law (and provided further that any period of revocation required by law has expired without Employee exercising his right to revoke his agreement to the settlement agreement and release), Restricted Stock not then or previously vested shall not then be forfeited, but thereafter all unvested Units shall be forfeited if there occurs a Forfeiture Event prior to the earlier Settlement Date which would have applied in the absence of such Retirement or Termination of Employment. Upon such a Retirement or Termination of Employment, the Vesting Date for such Restricted Stock or Employee’s deaththen-outstanding Units that are vested at the date of Termination (if not already settled) and that become vested thereafter will be settled in accordance with the settlement terms set out on the Cover Page, giving effect to any valid deferral election of Employee then in effect. A “Forfeiture Event” shall be deemed to occur if, following Employee’s Retirement or Termination by the Company not for Cause, Employee renders services for any organization or engages (either as owner, investor, partner, stockholder, employer, employee, consultant, advisor, or director) directly or indirectly, in any business which is or becomes competitive with the Company, its subsidiaries or affiliates, or otherwise engaged in conduct violating Section 7.4(a), 7.4(b) or 7.4(c) of the Plan. However, following Employee’s Retirement or Termination by the Company not for Cause, it Employee shall not constitute a Forfeiture Event if Employee purchases be free to purchase stock or other securities of an organization or business so long as the stock or other securities are it is listed upon a recognized securities exchange or traded over-the-counter and such investment does not represent a greater than five percent equity interest in the organization or business. If Employee does not sign a settlement agreement and release within the time period requested by the Company (or signs and then timely revokes his agreement to the settlement agreement and release), all Restricted Stock Units which is are not vested at the date of Termination will be forfeited.