Eligible Early Retirement definition
Eligible Early Retirement means the Grantee’s Termination of Service prior to age 65 pursuant to a succession plan approved by the Board, which may include (but, for clarity would not necessarily require) the Grantee and the Company entering into a consulting or advisory agreement and the Grantee’s reasonable cooperation in providing transition services for a period of time following termination of employment; provided that, the Executive provides the Company with at least nine months prior written notice (or such shorter notice period as determined by the Board in its discretion) of the Grantee’s termination of employment (and continues in active employment during such notice period) and the Board approves such Termination of Service as an Eligible Early Retirement.]2
Eligible Early Retirement means the Executive’s termination of employment without Good Reason prior to age 65 pursuant to a succession plan approved by the Board of Directors, which may include (but, for clarity would not necessarily require) the Executive and the Company entering into a consulting or advisory agreement and the Executive’s reasonable cooperation in providing transition services for a period of time following termination of employment; provided that, the Executive provides MFA with at least nine months prior written notice (or such shorter notice period as determined by the Board of Directors in its discretion) of the Executive’s termination of employment (and continues in active employment during such notice period) and the Board of Directors approves such termination of employment as an Eligible Early Retirement.
Examples of Eligible Early Retirement in a sentence
For purposes of this Agreement, an “Eligible Retirement” means the Grantee’s Termination of Service without Good Reason and other than on account of death or Disability either (A) on or after age 65 or (B) on account of an Eligible Early Retirement.