Vesting Upon Retirement. If the Optionee retires before the fourth anniversary of the Date of Grant, then the Optionee’s Option shall become nonforfeitable in accordance with the terms and conditions of, and over the time period described in, Section 1(a) as if the Optionee had remained in the continuous employ of the Company or a Subsidiary from the Date of Grant until the date of the fourth anniversary or the occurrence of an event referenced in Section 2, whichever occurs first. For purposes of this Agreement, “retires” or “retirement” shall mean: (i) Optionee’s voluntary termination of employment, with the consent of the Board or the Committee, at or after Optionee has reach age 55 and has accrued at least 15 years of continuous employment with the Company or a Subsidiary; (ii) Optionee’s voluntary termination of employment at or after age 62; or (iii) Optionee's termination of employment in accordance with applicable non-U.S. local law, if such non-U.S. law requires such terminaton to be treated as a retirement based on different criteria than those set forth in the preceding clauses (i) and (ii).
Vesting Upon Retirement. In the event Grantee retires prior to the third anniversary of the Date of Grant, then, subject to the payment provisions of Section 5 hereof, Grantee’s right to receive the Common Shares covered by this Agreement, along with any Deferred Cash Dividends accumulated with respect thereto, shall become nonforfeitable in accordance with the terms and conditions of, and over the time period described in, Section 1(a) as if Grantee had remained in the continuous employ of the Company or a Subsidiary from the Date of Grant until the date of the third anniversary of the Date of Grant or the occurrence of an event referenced in Section 2, whichever occurs first. For purposes of this Agreement, “retire” or “retirement” shall mean: (i) Grantee’s voluntary termination of employment at or after age 62; or (ii) Grantee's termination of employment in accordance with applicable non-U.S. local law, if such non-U.S. law requires such termination to be treated as a retirement based on different criteria than those set forth in the proceeding clause (i).
Vesting Upon Retirement. If Participant incurs a Termination of Employment due to Retirement (as defined below), the Options shall continue to vest and be exercisable according to the terms of this Agreement as though no Termination of Employment had occurred. For the purposes of this Agreement, “Retirement” shall mean Participant’s voluntary resignation at a time when (i) Participant is at least 60 years of age and (ii) Participant has been employed by NBHC for no less than 10 years. For the purposes of determining Participant’s eligibility for Retirement under this Agreement, if Participant was employed by a company or entity that NBHC acquired or that merged with NBHC, Participant’s employment with NBHC shall be deemed to have begun on the closing date of the transaction in which NBHC acquired or merged with such company or entity.
Vesting Upon Retirement. In the event Grantee retires prior to the fifth anniversary of the Date of Grant, then, subject to the payment provisions of Section 5 hereof, Grantee’s right to receive the Common Shares covered by this Agreement, along with any Deferred Cash Dividends accumulated with respect thereto, shall become nonforfeitable in accordance with the terms and conditions of, and over the time period described in, Section 1(a) as if Grantee had remained in the continuous employ of the Company or a Subsidiary from the Date of Grant until the date of the fifth anniversary of the Date of Grant or the occurrence of an event referenced in Section 2, whichever occurs first. For purposes of this Agreement, “retire” or “retirement” shall mean: (i) Grantee’s voluntary termination of employment, with the consent of the Board or the Committee, at or after Grantee has reached age 55 and has accrued at least 15 years of continuous employment with the Company or a Subsidiary or (ii) Grantee’s voluntary termination of employment at or after age 62; or (iii) Grantee's termination of employment in accordance with applicable non-U.S. local law, if such non-U.S. law requires such termination to be treated as a retirement based on different criteria than those set forth in the proceeding clauses (i) and (ii).
Vesting Upon Retirement. Notwithstanding Section 3(a) above, if Xxxxxxx’s Continuous Service ceases due to Grantee’s Retirement (as defined in Section 4(c)(iv) below), then a Pro-Rata Portion (as defined in Section 4(c)(iii) below) of the Restricted Stock Units shall become vested effective as of the last day of the Measurement Period, subject to and based upon achievement of the Performance Criteria as set forth in Exhibit A; provided, however, that no vesting shall occur hereunder unless the Grantee complies with the provisions of Section 7 below throughout the remaining period until the Vesting Date. Promptly following the date of the Committee’s final determination of the achievement of the Performance Criteria, the Company shall deliver to the Grantee one share for each Restricted Stock Unit in which Grantee becomes entitled as described herein and such Restricted Stock Unit shall terminate.
Vesting Upon Retirement. In the event that the Grantee’s employment with the Company shall terminate prior to January 5, 2025 because of Retirement in the absence of Cause, a portion of any TBRSUs which are forfeitable as of such date shall become non-forfeitable, with such portion being equal to (i) the total number of TBRSUs granted hereunder, multiplied by a fraction, the numerator of which is the number of complete calendar quarters which have elapsed from the Date of Xxxxx to the date of Retirement, and the denominator of which is twelve (12), less (ii) the number of TBRSUs granted hereunder that have already become non-forfeitable hereunder. The distribution of shares underlying the TBRSUs which become non-forfeitable under this Section 3(b) shall be made within thirty (30) days after the end of the calendar year of the Retirement, but notwithstanding anything to the contrary, in all events within the “short-term deferral” period determined under Treasury Regulation Section 1.409A-1(b)(4).
Vesting Upon Retirement. In the event that the Grantee’s employment with the Company shall terminate prior to December 31, 2024 because of Retirement in the absence of Cause, a pro rata portion of the ROIC Shares and the TSR Shares shall become non-forfeitable on the Vesting Date based on the actual performance achieved under Section 1(b) and (c) whereby the pro rata portion shall be determined by dividing the number of complete calendar quarters in the applicable performance period until Retirement by twelve (12). The distribution of the non-forfeitable ROIC Shares and TSR Shares under this Section 3(b) shall be made at the same time as the distribution of the Performance Shares that would have been made under Section 2.
Vesting Upon Retirement. In the event of the Participant’s termination of employment by reason of Retirement before the expiration of the Vesting Schedule, then the vesting of the Shares under the Vesting Schedule shall be automatically accelerated in full so that all of the Shares shall become Vested Shares, effective as of the date of such Retirement.
Vesting Upon Retirement. Notwithstanding Sections 2 or 3(a) above, if Grantee’s Continuous Service ceases due to Grantee’s “Retirement” (as defined below), then a Pro-Rata Portion (as defined above) of the Restricted Stock Units shall vest effective as of the Vesting Date in accordance with Exhibit A; provided, however, that no vesting shall occur hereunder unless the Grantee complies with the provisions of Section 7 below throughout the period from and including the date Grantee’s Continuous Service ceases until the Vesting Date. “Retirement” means Grantee both (i) attains age sixty-two (62) and (ii) completes ten (10) years of Continuous Service.
Vesting Upon Retirement. (i) Notwithstanding Section 2(a) above, if (i) Awardee’s Continuous Service ceases due to Awardee’s Retirement (as defined in Section 3(c)(v) below) and (ii) this Option later vests pursuant to Section 1(a) above, then a Pro Rata Portion (as defined in Section 3(c)(iv) below) of this Option shall become vested effective upon the Vesting Date; provided, however, that no vesting shall occur hereunder unless the Awardee complies with the provisions of Section 7 below until this Option expires or is exercised. Promptly following the date of the Committee’s final determination of the achievement of the Performance Criteria, the Company shall deliver a notice to the Awardee confirming the vesting of a Pro-Rata Portion of this Option. If this Section 2(c)(i) is applicable, this Option will expire at the close of business at the Company’s headquarters on the date twelve (12) months after the Vesting Date.
