Termination as a Result of Retirement Sample Clauses

Termination as a Result of Retirement. In the event of your termination of employment prior to the Employment Date as a result of your Retirement (which, for the avoidance of doubt and for purposes of this Agreement, is as defined in the Plan), the unvested Units shall vest pro-rata due to Retirement based on the following formula:
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Termination as a Result of Retirement. Except as otherwise set forth in paragraph 4(h) below, in the event of termination of your Continuous Service Status as a result of your Retirement (as defined below), the vesting of the Restricted Shares shall accelerate such that you shall be vested in (and any forfeiture feature specified in paragraph 4(d) shall lapse) as of the date of your retirement as to that number of Restricted Shares that equals the product of (a) the total number of Restricted Shares first set forth above (under “Number of Shares”) times (b) a ratio the numerator of which is the total number of months of Continuous Service Status you have achieved from the Date of Grant to the end of the month in which the your retirement date occurs and the denominator of which is the total number of months in the vesting schedule as set forth in paragraph 4(c) above. “Retirement” means a termination of Continuous Service Status after you have attained the age (and length of service, if required) at which you are eligible for normal or early retirement under any tax-qualified retirement plan for which you are eligible (whether or not you have elected to participate), or under the Company’s retirement policies applicable to senior management or directors of the Company.
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Termination as a Result of Retirement. If your employment or service with the Company terminates on or after the date you have both attained age sixty (60) and completed ten (10) years of service with the Company and its Affiliates (“Retirement”), at a time when your employment or service could not otherwise have been terminated for Cause, then you may exercise this Option until the Expiration Date. d.
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Termination as a Result of Retirement. Following a termination of employment by reason of your Retirement, the unvested portion of your Award will immediately vest in full and become exercisable, and you will be entitled to exercise the Award at any time prior to the Expiration Date (provided, however, that in the event the Award is exercised more than three months after the date of Retirement, the Award shall not be treated as an incentive stock option under Section 422 of the Code).”
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Termination as a Result of Retirement. Except as otherwise set forth in paragraph 4(g) below, in the event of termination of your Continuous Service Status as a result of your Retirement (as defined below), the vesting of the Units shall accelerate such that you shall be vested in (and any forfeiture feature specified in paragraph 4(c) shall lapse) as of the date of your retirement as to the total number of Units first set forth above (under “Number of Shares”) that equals the product of (a) the total number of Units times (b) a ratio the numerator of which is the total number of months of Continuous Service Status you achieved from the Date of Grant to the end of the month in which the your retirement date occurs and the denominator of which is the total number of months in the vesting schedule as set forth in paragraph 4(a) above. “Retirement” means a termination of your Continuous Service Status after you have attained the age (and length of service, if required) at which you are eligible for normal or early retirement under any tax-qualified retirement plan for which you are eligible (whether or not you have elected to participate), or under the Company’s retirement policies applicable to senior management or directors of the Company.
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Termination as a Result of Retirement. Notwithstanding the foregoing or the terms of any equity award agreement to the contrary, if the Employee’s service with the Company terminates as a result of the Employee’s “Retirement,” any equity award granted thereunder will continue to become vested and payable as if the Employee’s service with the Company had not terminated upon such Retirement. For this purpose, “Retirement” shall mean the Employee’s termination of service upon the attainment of age 65, provided that the Employee give the Company at least six (6) months’ prior written notice of such termination.
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Related to Termination as a Result of Retirement

  • Termination by Reason of Retirement If the Grantee's employment by the Company terminates by reason of Retirement (as defined in the Plan), the Restricted Stock Units granted hereunder shall not be forfeited but shall be settled in Stock to the Grantee on the same schedule as provided in Section 2 (or otherwise) as if the Grantee had continued employment through each such Vesting Date (or such other vesting event pursuant to Section 3.4 or Section 5.2).

  • Termination Due to Retirement Subject to Section 7 below, in the event of Termination due to Retirement, then (regardless of any subsequent death of the Employee) the Option will continue to vest pursuant to Section 3, and the last date on which the Option may be exercised is the day prior to the Expiration Date.

  • TERMINATION UPON RETIREMENT, DISABILITY OR DEATH Termination by the Bank of the Executive based on "

  • Termination of Service Due to Death or Disability If an Awardee’s service on the Board terminates by reason of death or Disability, the restrictions and risk of forfeiture with respect to the Restricted Stock which have not expired shall immediately lapse and all shares of the Restricted Stock shall be deemed fully vested and nonforfeitable.

  • Termination on Death or Disability Upon a termination of employment due to the Executive’s death or Disability, the Company shall have no further liability or further obligation to the Executive except that the Executive (or, if applicable, his estate or designated beneficiaries under any Company-sponsored employee benefit plan in the event of his death) shall be entitled to receive:

  • TERMINATION FOR DISABILITY OR DEATH (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

  • Termination of Service Termination of Service shall mean the Executive's voluntary resignation of service by the Executive or the Bank's discharge of the Executive without cause, prior to the Early Retirement Date (Subparagraph I [K]).

  • Termination Due to Change in Control If the Company terminates Executive's employment without Cause (and for reasons other than death or Disability) in conjunction with a Change in Control (as defined below), Executive shall be entitled to receive all accrued but unpaid salary and benefits through the date of termination plus the Change in Control Benefit (as defined below).

  • TERMINATION UPON RETIREMENT Termination of Executive’s employment based on “

  • Termination by Death or Disability In the event of the Executive’s death or total disability (as defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended) during the Term, the Term and Executive’s employment shall terminate on the date of death or total disability. In the event of such termination, the Company’s sole obligations hereunder to the Executive (or the Executive’s estate) shall be for unpaid Base Salary, accrued but unpaid bonus and benefits (then owed or accrued and owed in the future), a pro-rata bonus for the year of termination based on the Executive’s target bonus for such year and the portion of such year in which the Executive was employed, and reimbursement of expenses pursuant to the terms hereon through the effective date of termination, each of which shall be paid within 10 days following the date of the Executive’s termination, and any unvested portion of any Equity Grants shall immediately be forfeited as of the termination date without any further action of the Parties.

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