Common use of Special Retirement Clause in Contracts

Special Retirement. If the Optionee ceases to be employed by or of service to the Employers and Affiliates by reason of Special Retirement (as defined below), the Option immediately shall become exercisable in full if (i) the Optionee has attained age 66 as of the effective date of the Optionee’s Special Retirement and (ii) the effective date of the Optionee’s Special Retirement occurs on or after January 1, <<CALENDAR YEAR COMMENCING AFTER OPTION DATE>>. If the Optionee ceases to be employed by or of service to the Employers and Affiliates by reason of Special Retirement and either (i) the Optionee has not attained age 66 as of the effective date of the Optionee’s Special Retirement or (ii) the effective date of the Optionee’s Special Retirement occurs before January 1, <<CALENDAR YEAR COMMENCING AFTER OPTION DATE>>, the Option shall be exercisable only to the extent it is exercisable on the effective date of the Optionee’s Special Retirement. The Option, to the extent then exercisable, may be exercised

Special Retirement. If the Optionee ceases to be employed Optionee’s employment by or of service to with the Employers and Affiliates terminates by reason of Special Retirement (as defined below), then the Option immediately shall become exercisable in full if (i) the Optionee has attained age 66 as of the effective date of the Optionee’s Special Retirement and (ii) the effective date of the Optionee’s Special Retirement occurs on or after January 1, <<CALENDAR YEAR COMMENCING AFTER OPTION DATE>>. If the Optionee ceases to be employed Optionee’s employment by or of service to with the Employers and Affiliates terminates by reason of Special Retirement and either (i) the Optionee has not attained age 66 as of the effective date of the Optionee’s Special Retirement or (ii) the effective date of the Optionee’s Special Retirement occurs before January 1, <<CALENDAR YEAR COMMENCING AFTER OPTION DATE>>, then the Option shall be exercisable only to the extent it is exercisable on the effective date of the Optionee’s Special Retirement. The Option, to the extent then exercisable, may be exercisedexercised by the Optionee (or the Optionee’s Legal Representative) for a period of 12 months after the effective date of the Optionee’s Special Retirement, or until the Expiration Date, whichever period is shorter. If the Optionee shall die

Special Retirement. If the Optionee ceases to be employed Optionee’s employment by or of service to with the Employers and Affiliates terminates by reason of Special Retirement (as defined below), then the Option immediately shall become exercisable in full if (i) the Optionee has attained age 66 as of the effective date of the Optionee’s Special Retirement and (ii) the effective date of the Optionee’s Special Retirement occurs on or after January 1, <<CALENDAR YEAR COMMENCING AFTER OPTION DATEFOLLOWING CALENDAR YEAR OF GRANT>>. If the Optionee ceases to be employed Optionee’s employment by or of service to with the Employers and Affiliates terminates by reason of Special Retirement and either (i) the Optionee has not attained age 66 as of the effective date of the Optionee’s Special Retirement or (ii) the effective date of the Optionee’s Special Retirement occurs before January 1, <<CALENDAR YEAR COMMENCING AFTER OPTION DATEFOLLOWING CALENDAR YEAR OF GRANT>>, then the Option shall be exercisable only to the extent it is exercisable on the effective date of the Optionee’s Special Retirement. The Option, to the extent then exercisable, may be exercisedexercised by the Optionee (or the Optionee’s Legal Representative) for a period of 12 months after the effective date of the Optionee’s