Common use of Termination of Employment by Reason of Retirement Clause in Contracts

Termination of Employment by Reason of Retirement. Unless the Option has earlier terminated pursuant to the provisions of this Agreement, in the event that Grantee ceases, by reason of Retirement, to be an employee of the Corporation or an affiliate, (i) the unvested portion of the Option shall terminate immediately and (ii) the outstanding Option may be exercised in whole or in part with respect to the shares of Stock as to which the Option is vested as of the date of Grantee's termination of employment at any time within ninety days after such date of termination, but not later than the end of the stated term of the Option. Unless sooner terminated, the Option shall terminate in its entirety upon the expiration of such ninety-day period. For purposes of this Agreement, Retirement shall mean termination of employment on or after age 65 or termination of employment on or after the attainment of such younger age and satisfaction of such minimum service requirement, if any, specified by the Corporation's qualified retirement plan in effect at such time, but excluding any termination for Cause.

Termination of Employment by Reason of Retirement. Unless the Option has earlier terminated pursuant to the provisions of this Agreement, in the event that Grantee ceases, by reason of Retirement, to be an employee of the Corporation or an affiliateAffiliate, (i) the unvested portion of the Option shall terminate immediately and (ii) the outstanding Option may be exercised in whole or in part with respect to the shares of Stock as to which the Option is vested as of the date of Grantee's termination of employment at any time within ninety days after such date of termination, but not later than the end of the stated term of the Option. Unless sooner terminated, the Option shall terminate in its entirety upon the expiration of such ninety-day period. For purposes of this Agreement, Retirement shall mean termination of employment on or after age 65 or termination of employment on or after the attainment of such younger age and satisfaction of such minimum service requirement, if any, specified by the Corporation's qualified retirement plan in effect at such time, but excluding any termination for Cause.

Termination of Employment by Reason of Retirement. Unless the Option has earlier terminated pursuant to the provisions of this the Agreement, in the event that Grantee ceases, by reason of Retirement, to be an employee of the Corporation or an affiliateAffiliate, (i) the unvested portion of the Option shall terminate immediately and (ii) the outstanding Option may be exercised in whole or in part with respect to the shares of Stock as to which the Option is vested as of the date of Grantee's termination of employment at any time within ninety (90) days after such date of termination, but not later than the end of the stated term of the Option. Unless sooner terminated, the Option shall terminate in its entirety upon the expiration of such ninety-day period. For purposes of this Agreement, Retirement shall mean termination of employment on or after age 65 or termination of employment on or after the attainment of such younger age and satisfaction of such minimum service requirement, if any, specified by the Corporation's qualified retirement plan in effect at such time, but excluding any termination for Cause.