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 Due to Retirement. Upon termination of the Executive based on Retirement, no amounts or benefits shall be due the Executive under this Agreement, and the Executive shall be entitled to all benefits under any retirement plan of the Company and other plans to which the Executive is a party. Termination of the Executive’s employment based on “Retirement” shall mean termination of the Executive’s employment in accordance with a retirement policy established by the Board with the Executive’s consent.
Termination Due to Retirement. In the event of your Termination prior to the Vesting Date due to your Retirement, you will vest pro-rata in a percentage of the Number of Shares equal to your number of full months of service since the Date of Grant divided by thirty-six months, rounded down to the nearest whole share of Intuit Common Stock, and the Vesting Date under this Agreement will be your Termination Date. For purposes of this Award, Retirement means the Termination of your employment with the Company after you have reached age fifty-five (55) and completed ten full years of service with the Company (including any Parent or Subsidiary).
Termination Due to Retirement. The Executive may terminate his employment hereunder on the basis of his Retirement upon sixty (60) days prior written notice to the Employers. If, during the Term of Employment, the Executive’s employment is so terminated due to Retirement, the Term of Employment shall thereupon end and the Executive shall, subject to Section 6.11 of this Agreement, only be entitled to:
(a) Base Salary accrued but not yet paid as of the Date of Termination;
(b) any bonus actually awarded or commissions actually earned, but not yet paid, as of the Date of Termination;
(c) reimbursement for all expenses (under Section 5.5) incurred as of the Date of Termination, but not yet paid as of the Date of Termination;
(d) payment of the per diem value of any unused vacation days that have accrued during the Term of Employment prior to the Date of Termination and the unused, unaccrued portion of any vacation days available through the end (but not beyond) of the calendar year in which the Date of Termination occurs;
(e) any other compensation and benefits as may be provided in accordance with the terms and provisions of any applicable plans, programs, procedures or practices of the Employers;
(f) continuation of the welfare benefits of the Executive, his spouse and other eligible dependants, if any, at the level in effect (as described in Section 5.4 of this Agreement) on, and at the same out-of-pocket cost to the Executive as of, the Date of Termination for the one-year period commencing on the Date of Termination (or, if such continuation of benefits is not permitted by applicable law or if the Board so determines in its sole discretion, the Employers shall provide the economic equivalent in lieu thereof); and
(g) any rights to indemnification in accordance with Section 10 of this Agreement; provided, however, that if a termination due to Retirement occurs within one year prior to a Change in Control, then the Executive shall receive, in addition to all of the payments and benefits required under this Section 6.6 and subject to Section 6.9 below, the full lump sum payment required under Section 6.4(a) above in the event of a termination of the Executive’s employment after, or within one year prior to, a Change in Control, which lump sum shall be paid within thirty (30) days following the date of the Change in Control.
Termination Due to Retirement. If the Optionee’s employment is terminated as a result of the Optionee’s Retirement (as defined below), the Option shall expire on the earlier of (month, day, year — option expiration date), or the date five years after the termination of the Optionee’s employment due to Retirement. If the Option is not vested at the time of the Optionee’s termination of employment due to Retirement, a prorated portion of the Option shall immediately vest as of the date of the termination of employment (see “Prorated Vesting Upon Retirement” below). Any remaining unvested portion of the Option shall expire as of the date of the termination of the Optionee’s employment. For purposes of this subsection 2(e)(iii), the Optionee shall be considered employed during any period in which the Optionee is receiving severance payments (disregarding any delays required to comply with tax or other requirements), and the date of the termination of the Optionee’s employment shall be the last day of any such severance period.
Termination Due to Retirement. In the event of your Termination prior to the Vesting Date due to your Retirement, you will vest immediately on the date of your Retirement in a pro-rata portion of the Award, to be calculated as follows: divide your number of full months of service since the Date of Grant by thirty-six (36) months, multiply this quotient (the “pro rata percentage”) by the sum of (i) the number of Shares that were to vest on the Vesting Date, subject to your continued employment, based on the actual level of achievement of the TSR Goals, as certified by the Committee, for each completed Performance Period, and (ii) 100% of the Target Shares that remain subject to any incomplete Performance Period, and rounding down to the nearest whole Share. The Vesting Date under this Agreement will be your Termination Date. Subject to Section 6(j), Shares that become vested in accordance with this Section 1(b) will be distributed to you as soon as reasonably practicable following the date of your Retirement. For purposes of this Award, “Retirement” means the Termination of your employment with the Company after you have reached age fifty-five (55) and completed ten (10) full years of service with the Company (including any parent or Subsidiary).
Termination Due to Retirement. If you terminate due to Retirement, and provided that the Committee agrees to treat your termination as a Retirement, you will vest in a prorated portion of your Shares of Restricted Stock determined by multiplying the number of your Award Shares by a fraction, the numerator of which is the number of whole months you were employed from the Grant Date to the date of Retirement, and the denominator of which is 36.
Termination Due to Retirement. Any Options held by the Optionee on the date the Optionee ceases employment due to Retirement that were otherwise exercisable on such date shall terminate unless exercised within the period of three months from the date of termination of the Optionee due to “Retirement”, but in no event after the expiration date of the Option as set forth in Section 6(A). “Retirement” shall mean a termination of employment arrangement with the Company or a subsidiary or affiliate with the written consent of the Committee in its sole discretion.
Termination Due to Retirement. If Employee’s employment by the Company or any of its Subsidiaries terminates due to Normal Retirement, then the portion of the Option that was exercisable as of the date of termination of employment may be exercised for a period of one year from the date of such termination or until the expiration of the Exercise Period, whichever is shorter. The portion of the Option not yet exercisable on the date of termination of employment, if any, shall immediately expire.
Termination Due to Retirement. (i) In the event that the Grantee’s employment or other service is terminated prior to the end of the Vesting Period by reason of the Grantee’s retirement at or beyond age fifty-five (55) and the Grantee has five (5) or more years of service with the Company prior to such retirement, the Grantee will become vested in a pro rata portion of Award Units based on the number of calendar days elapsed in the Vesting Period as of the date of retirement (e.g., If the Grantee was granted 1,200 Award Units, and if retirement occurs 730 calendar days into the 1,095 calendar days vesting period, then the Grantee will become vested with respect to an aggregate of 800 Award Units and the remaining 400 Award Units will immediately terminate and be forfeited without notice of any kind) pending completion of the Performance Period and final determination of the Adjusted Award Units.
(ii) In the event that the Grantee’s employment or other service with the Company and all Subsidiaries is terminated prior to the end of the Vesting Period by reason of the Grantee’s retirement prior to age fifty-five (55) or the Grantee has fewer than five (5) years of service with the Company prior to retirement, all rights of the Grantee under the Plan and this Agreement relating to all Award Units with respect to which the Restrictions have not lapsed will immediately terminate and be forfeited without notice of any kind.
(iii) In the event that the Grantee’s employment or other service with the Company and all Subsidiaries is terminated prior to the end of the Vesting Period by reason of the Grantee’s retirement at or beyond age sixty (60) and the Grantee has five (5) or more years of service with the Company prior to retirement, the Grantee will become fully vested in the Award Units pending completion of the Performance Period and final determination of the Adjusted Award Units if the following criteria are met: a) Grantee provides written notice of Xxxxxxx’s intention to retire one year before Xxxxxxx’s actual retirement date, and b) Xxxxxxx’s actual retirement date is at least one year after the Date of Xxxxx.
(iv) The shares of Common Stock to be issued in settlement of the Adjusted Award Units pursuant to paragraphs (i) or (iii) above will be retained and held by the Company pending the final determination of the Adjusted Award Units and will be issued within 90 days of the end of the Vesting Period.
