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: (i) the total number of Units that would have vested and been settled in Shares if you had remained continuously employed through the Employment Date, based upon the extent to which the Performance Goals are met, times (ii) a ratio, the numerator of which is the total number of months of employment from the Grant Date to the end of the month in which the date of termination due to Retirement occurs, and the denominator of which is thirty-six (36), rounded to the nearest whole number. Such Units shall vest and be settled in Shares at the same time that Units are vested and settled in Shares for Participants who remain employed through the Employment Date in accordance with Section 3(i) of this Agreement. The remaining Units that are not vested in accordance with this Section 3(d) shall be forfeited.
Appears in 4 contracts
Samples: Employee Restricted Stock Unit Award Agreement (Foster Wheeler Ag), Employee Restricted Stock Unit Award Agreement (Foster Wheeler Ag), Employee Restricted Stock Unit Award Agreement (Foster Wheeler Ag)
