Termination Due to Voluntary Retirement. In the event that Executive's employment is terminated due to his Voluntary Retirement (and other than termination for Good Reason), he shall be entitled to the following benefits:
(i) the Accrued Obligations; and
(ii) such rights as are in effect at the time with respect to stock options, restricted stock, retirement benefits and other benefits in accordance with applicable plan documents.
Termination Due to Voluntary Retirement. (a) Executive has the right, at any time during the Term, subject to all of the provisions hereof, exercisable by serving notice of at least 90 days, effective on or after the date of service of such notice as specified therein, to terminate Executive’s employment with the Company due to Voluntary Retirement.
(b) Upon Voluntary Retirement, in exchange for Executive executing and delivering a Release as described in Section 6.7, Executive shall be entitled to receive:
(i) The Accrued Amounts (payable at the same time and in the same manner as set forth in Section 6.1);
(ii) An amount equal to 12 months of Executive’s then current Annual Salary (the “Retirement Payment”), payable in accordance with the Company’s payroll practices, beginning on the 60th day after the Date of Termination (the “Retirement Payment Commencement Date”);
(iii) An amount equal to Executive’s STI Plan target payment amount for the fiscal year in which the Date of Termination occurs, payable within 30 days after the date all applicable revocation periods under the Release have expired; and
(iv) Until the earlier to occur of (A) the expiration of 12 months after the Date of Termination, (B) the date Executive first becomes eligible to receive health benefits under another employer-provided plan after the Date of Termination, or (C) the death of Executive, the Company shall, via proper COBRA election by Executive, continue medical and dental benefits to Executive (and, if applicable, to the spouse and dependents of Executive who received such benefits under Executive’s coverage immediately prior to the Date of Termination) equal to those that were in effect for Executive as of the Date of Termination (and to any such dependent) in accordance with the plans, programs, practices and policies of the Company had Executive remained actively employed, provided that Executive makes all required COBRA payments to the Company, and the Company shall immediately reimburse Executive for each such COBRA payment (collectively, the “Continuation of Benefits”). Executive shall remain liable for any portion of such premiums for which Executive was liable as of the Date of Termination and for any additional coverage not effective at the Date of Termination.
(c) Notwithstanding any provision of this Agreement to the contrary, and subject to Section 5.12, upon Voluntary Retirement, in exchange for Executive executing and delivering a Release as described in Section 6.7, Executive’s unvested LTI Awards shal...
Termination Due to Voluntary Retirement. The Executive has the right, at any time during the Term, subject to all of the provisions hereof, exercisable by serving notice of at least ninety (90) days, effective on or after the date of service of such notice as specified therein, to terminate his/her employment under this Agreement due to Voluntary Retirement. Voluntary Retirement is the termination of employment after age 65 with no expectation of returning to the industry. The provisions of Section 3 remain in full force and effect upon Voluntary Retirement. Upon Voluntary Retirement, in exchange for the Executive executing and delivering a Release as described in Section 4.5.2, Executive shall be entitled to receive:
(A) The Accrued Amounts (payable at the same time and in the same manner as set forth in Section 4.2); and
(B) An amount equal to twelve (12) months of Executive’s then current salary, payable in bi-monthly installments, beginning on the sixtieth day after Voluntary Retirement (the “Retirement Payment”). The Retirement Payment shall be made in accordance with the company’s payroll practices.
(C) The Company shall have the right to cease or terminate the Retirement Payment in the event the Executive breaches, in the Company’s sole discretion, any covenant contained in Section 3 of this Agreement.
Termination Due to Voluntary Retirement. For purposes of this Agreement, “Voluntary Retirement” means a voluntary termination of employment, other than at the request of the Company, after Executive has attained age fifty (50);
Termination Due to Voluntary Retirement. In the event Executive’s employment is terminated due to voluntary retirement, as defined in the Company’s Executive Voluntary Retirement Plan (“Executive Retirement Plan”), Executive shall be entitled to such benefits as provided pursuant to the Executive Retirement Plan.
Termination Due to Voluntary Retirement. In the event that Executive's employment is terminated due to his Voluntary Retirement (and other than termination for Good Reason), he shall be entitled to the following benefits:
(i) the Accrued Obligations; and
(ii) such rights as are in effect at the time with respect to stock options, restricted stock, retirement benefits and other benefits in accordance with applicable plan documents, provided that, if Executive is age 65 or older at the time of such Voluntary Retirement, he shall be entitled to the enhanced retirement benefits described in Section 7(b-2) of the Employment Continuation Agreement in lieu of the retirement benefits that would otherwise be payable.
Termination Due to Voluntary Retirement. For periods commencing on and after January 1, 2026, in the event Executive’s employment is terminated due to voluntary retirement, as defined in the Company’s Executive Voluntary Retirement Plan (“Executive Retirement Plan”), Executive shall be entitled to such benefits as provided pursuant to the Executive Retirement Plan.
