Termination for Retirement. If the Executive’s employment is terminated by reason of Retirement during the Term, the Executive shall be entitled to the following:
(i) payment of Accrued Obligations (which shall be paid to the Executive in a lump sum in cash within 30 days of the Date of Termination); and
(ii) any or all Stock Options and shares of restricted stock awarded to the Executive under any plan not previously exercisable and vested shall become fully exercisable and vested; and
(iii) the Executive shall be entitled to use of the Automobile for a period of six (6) months from the Date of Termination; provided, however, that during such time period, the Executive shall be solely responsible for all expenses incurred in the use of the Automobile, including maintaining insurance of the same types and at the same levels as previously maintained by the Company immediately prior to the Date of Termination; and
(iv) until the Executive becomes eligible for Medicare, and to the extent the Executive's continued participation is possible under the general terms and provisions of the Company’s medical plans and programs and permissible without violating the requirements of Code Section 409A, the Company shall continue to provide medical benefits to the Executive and/or the Executive's family at least equal to those which would have been provided to them if the Executive's employment had not terminated; provided, however, that if the Executive becomes reemployed with another employer and is eligible to receive medical benefits under another employer-provided plan, the medical benefits described herein shall be secondary to those provided under such other plan during such applicable period of eligibility; in the event that the Executive's participation in any such plan or program is barred, the Company shall arrange to provide the Executive with benefits substantially similar to those which he is entitled to receive under such plans and programs; and
(v) the Company shall promptly transfer and assign to the Executive all such life insurance policies for which the Company or Parent was previously reimbursing premium payments made by the Executive pursuant to an agreement between the Executive and the Company or Parent.
Termination for Retirement or Death 7 2.6 Termination for Cause or by the Executive Other Than for Good Reason 7 2.7 Notice of Termination 7 Article 3. Form and Timing of Severance Benefits 7 3.1 Form and Timing of Severance Benefits 7 3.2 Withholding of Taxes 7
Termination for Retirement. In the event Optionee’s employment is terminated by Optionee’s Retirement, all outstanding unvested Options shall be forfeited and all vested Options shall remain exercisable at any time prior to the end of the Exercise Term or for one (1) year after the date of Retirement, whichever period is shorter.
Termination for Retirement. If the Participant’s employment with the Company terminates due to Retirement, the Vested Portion of the SSARs shall remain exercisable until the Expiration Date; and
Termination for Retirement. Termination by the Company of the Executive's employment based on "Retirement" shall mean termination in accordance with the Corporation's normal retirement policy applicable to its salaried employees as in effect immediately prior to the Change in Control or in accordance with any other retirement arrangement established with the Executive's consent with respect to the Executive.
Termination for Retirement. If the Participant ceases to be an employee of the Company or any Affiliate by reason of Retirement at a time when the participant’s employment could not have been terminated for Cause, then the Award (i) shall be exercisable in full without regard to any vesting requirements; provided that an Option of a Participant who Retires shall be exercisable in full only if the participant Retires on or after the first anniversary of the Grant Date, and (ii) will remain exercisable until the Award’s expiration date.
Termination for Retirement. If the Participant’s employment with the Company terminates due to Retirement, the Vested Portion of an Option shall remain exercisable until the Expiration Date; and
Termination for Retirement. If the Optionee’s employment with the Company terminates as a result of Retirement (as defined below), then the Optionee (or any individual authorized to act on the Optionee’s behalf) may exercise the Option, to the extent it was exercisable on the date of Optionee’s Retirement, for four years following such date. At the end of such period the exercisable portion of the Option shall immediately terminate.
Termination for Retirement. If the Option Holder "retires" (which for this purpose shall mean termination of employment with the Company on or after reaching the normal retirement age of 65) within the Option Period, the Option may be exercised by the Option Holder within two years following the Option Holder's termination of services on account of "retirement" (provided that such exercise must occur within the Option Period), but not thereafter. In any such case, the Option may be exercised only as to the shares as to which the Option had become exercisable on or before the date of the Option Holder's "retirement."
Termination for Retirement. Upon reaching the age of 70, Executive may terminate his employment for “Retirement” upon not less than 30 days’ prior written notice to the Company.
