Common use of Vesting Upon Retirement Clause in Contracts

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) the Optionee’s voluntary termination of employment at or after age 62; or (ii) 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 clause (i).

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 (iiiii) 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 clause clauses (i) and (ii).

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) the Optionee’s voluntary termination of employment at or after age 62; 62 or (ii) Optionee's ’s termination of employment in accordance with applicable non-U.S. local law, if such non-U.S. law requires such terminaton termination to be treated as a retirement based on different criteria than those set forth in the preceding clause (i).

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) the Optionee’s voluntary termination of employment at or after age 62; 62 or (ii) Optionee's ’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 clause (i).

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) the Optionee’s voluntary termination of employment at or after age 62; 62 or (ii) Optionee's termination of employment in accordance with applicable non-U.S. local law, if such non-U.S. law requires such terminaton termination to be treated as a retirement based on different criteria than those set forth in the preceding clause (i).

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 reached 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 (iiiii) Optionee's termination of employment in accordance with applicable non-U.S. local law, if such non-U.S. law requires such terminaton termination to be treated as a retirement based on different criteria than those set forth in the preceding clause clauses (i) and (ii).