Termination of Employment - Retirement. Unless otherwise determined by the Committee, in the event of a Participant's Retirement, the Participant may exercise only those Incentive Stock Options that were immediately exercisable by the Participant at the date of Retirement and only for a period of one (1) year from the date of Retirement, or, if sooner, until the expiration of the term of the Option. Any Option originally designated as an Incentive Stock Option shall be treated as a Non-Statutory Stock Option to the extent the Option does not otherwise qualify as an Incentive Stock Option pursuant to Section 422 of the Code.
Termination of Employment - Retirement. 1.9 In the event of the termination of employment for any reason, retirement or death of a Participant, or in the event the Plan is terminated pursuant to Section 10.2, Participant Contributions shall be automatically stopped and any Participant Contributions held by the Employer at such time shall be returned to such Participant.
Termination of Employment - Retirement. Upon the Grantee’s Termination of Employment by reason of Retirement, subject to the Grantee’s continued compliance with Section 10 below and the execution and non-revocation of a general release in the Company’s favor, each unvested installment of RSUs held by the Grantee shall vest upon the earlier to occur of (i) the date such installment would have otherwise vested or (ii) the first anniversary of the Grantee’s Termination of Employment.
Termination of Employment - Retirement. In the event of a ------------------------------------------- Participant's Retirement, the Participant may exercise only those Incentive Stock Options that were immediately exercisable by the Participant at the date of Retirement and only for a period of one (1) year following the date of Retirement; PROVIDED HOWEVER, that upon the Participant's Retirement, the Committee, in its discretion, may determine that all Incentive Stock Options that were not otherwise exercisable by the Participant as of such date shall continue to become exercisable in accordance with the terms of the Award Agreement if the Participant is immediately engaged by the Holding Company or an Affiliate as a consultant or advisor or continues to serve the Holding Company or an Affiliate as a director or advisory director. Any Option originally designated as an Incentive Stock Option shall be treated as a Non-Statutory Stock Options to the extent the Participant exercises such Option more than three (3) months following the Date of the Participant's Retirement.
Termination of Employment - Retirement. If there is a Termination of Service of the Holder by reason of Retirement, the vesting and exercisability of this Nonqualified Stock Option shall be determined under the Applebee's Internationax, Xxx. Xxecutive Retirement Plan.
Termination of Employment - Retirement. Unless otherwise determined by the Committee, in the event of a Participant's Retirement, the Participant may exercise only those Incentive Stock Options that were immediately exercisable by the Participant at the date of Retirement and only for a period of one (1) year following the date of Retirement. Any Option originally designated as an Incentive Stock Option shall be treated as a Non-Statutory Stock Options to the extent the Participant exercises such Option more than three (3) months following the Date of the Participant's Retirement. (g) Termination of Employment (Disability or Death). Unless otherwise determined by the Committee, in the event of the termination of a Participant's employment or other service due to Disability or death, all Incentive Stock Options held by such Participant shall immediately become exercisable and remain exercisable for a period one (1) year following the date of such termination. Any Option originally designated as an Incentive Stock Option shall be treated as a Non-Statutory Stock Options to the extent the Participant exercises such Option more than one (1) year following the Date of the Participant's Retirement. (h)
Termination of Employment - Retirement. (a) Subject to the last paragraph of this Section 4(a), the Optionee or a Permitted Transferee (as defined in Section 11) or Transferees, if any, may, at any time within three months after the date of termination of the Optionee’s employment with the Corporation and its subsidiaries, but not later than the date of expiration of the Option, exercise the Option to the extent the Optionee was entitled to do so on the date of termination; provided that the Optionee or the Permitted Transferee or Transferees, if any, shall not be deemed to be so entitled on the date of termination if the Committee shall find that the Optionee’s employment was terminated for Cause or because of any activity on the Optionee’s part in competition with, or detrimental to, the Corporation or any of its subsidiaries or that the Optionee terminated such employment of the Optionee’s own volition in order to engage or because the Optionee had engaged in such activity (in any such case, a “Cause Termination”). If the Option or any portion of the Option is not so exercised, or if the Optionee shall be deemed not to be entitled to exercise it, the Option or unexercised portion thereof shall terminate. However, the Option shall not be affected by any change in the duties or position of the Optionee (including transfer to or from a subsidiary) so long as the Optionee continues in the employ of the Corporation or one of its subsidiaries.
Termination of Employment - Retirement. Upon the Optionee’s Termination of Employment as a result of Retirement, subject to the Optionee’s continued compliance with Section 11 below and the execution and non-revocation of a general release in the Company’s favor, (i) all outstanding Options that were otherwise exercisable as of the Optionee’s Termination of Employment and (ii) a number of Options equal to the positive difference, if any, between (x) the number of Shares subject to this Agreement multiplied by a fraction, the numerator of which equals the number of full months, rounded down to the nearest whole month, elapsed from the Grant Date through the Optionee’s Termination of Employment and the denominator of which equals 60 and (y) the number of Shares subject to this Agreement that have previously vested, shall become exercisable as of the Optionee’s Termination of Employment and, in each case, shall remain exercisable through the Expiration Date and shall thereafter terminate. Any portion of the Option that had not yet become exercisable as of the Termination of Employment (excluding for this purpose any Options that otherwise become vested pursuant to clause (ii) of this Section 10) shall terminate immediately effective as of such date, with no payment made in consideration therefor.
Termination of Employment - Retirement. Section 2(b) (Termination of Employment after First Anniversary of the Grant Date Due to Retirement) of the Agreement is amended and restated in its entirety to read as follows: “In the event that, after the first anniversary of the Grant Date, the Participant’s employment with the Company or an Affiliate is terminated due to “retirement” (defined for the purposes of this Agreement as a termination of employment with the Company or any Affiliate due to retirement at any age with the approval and evidenced to the satisfaction of the Committee or its designee), the Participant shall be entitled to receive a prorated portion of the next scheduled vesting installment of the Award as follows: the number of RSUs equal to: (a) a fraction of the RSUs granted hereunder (1) the numerator of which shall be the number of months completed from the Grant Date through the Participant’s last day of active employment; and (2) the denominator of which shall be the total number of months from the Grant Date through the final scheduled vesting date; minus (b) the number of RSUs for which the Restricted Period had lapsed prior to termination of employment. Any Shares represented by the Award that vest under this Section 2(b) shall settle in accordance with the original schedule set forth in Section 1(d) of this Agreement (as if such termination of employment did not occur). For the avoidance of doubt, if the Participant’s employment is terminated prior to the first anniversary of the Grant Date for any reason other than death or Disability, the Award and any rights to receive shares of Common Stock, cash and Dividend Equivalents with respect thereto, will be forfeited without consideration.” Award Not a Service Contract. The following supplements Section 9 of the Award Agreement: Compensation and damages for loss of rights.
Termination of Employment - Retirement. Unless otherwise determined by the Committee, in the event of a Participant's Retirement, the Participant may exercise only those Incentive Stock Options that were immediately exercisable by the Participant at the date of Retirement and only for a period of three (3) years following the date of Retirement. Any Option originally designated as an Incentive Stock Option shall be treated as a Non-Statutory Stock Option to the extent the Participant exercises such Option more than three (3) months following the Date of the Participant's Retirement.
