Rule of 70 definition

Rule of 70 means any combination of the retiree’s minimum age 50 (at last birthday preceding Board approved retirement date) plus full years of probationary or regular District service equivalent to 70 years or more.

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Rule of 70 means that the Participant’s age plus years of service with the Company and its Affiliates collectively equals at least 70; provided, that the Participant has reached at least age 55 and has at least five (5) years of continuous employment or service with the Company and its Affiliates (including, for the avoidance of doubt, any additional service credit granted to the Participant, or to a group of employees of which the Participant is a member, by the Board).

Rule of 70 means, and is deemed satisfied if, the sum of (A) Participant’s age, and (B) the number of Participant’s years of continuous service to Corporation and/or the Successor, equals or exceeds seventy (70). For purposes of determining whether the “Rule of 70” has been satisfied, only completed years of service shall be counted as service years. 5.

Examples of Rule of 70 in a sentence

Under the terms of this Agreement, you also are eligible for P&G retiree healthcare coverage as a Special Retiree by satisfying the Rule of 70 as of your Last Day of Employment.
You satisfy the Rule of 70 when your full years of age plus your full years of service equal 70.
If ▇▇▇▇▇▇▇’s employment with the Company terminates (other than for Cause) prior to the expiration of the Performance Period and on or after ▇▇▇▇▇▇▇’s Rule of 70 Date, as defined below, then the Award shall be earned on a pro-rata basis and paid based on the Total Shareholder Return calculated through the end of the Performance Period, as if the Grantee remained an active employee of the Company.
Effective as of the Distribution Date, the ▇▇▇▇▇▇ Group shall adopt and maintain Zimmer Severance Plans which shall be identical in all material respects (including the Rule of 70 provisions and six-month minimum severance benefits for certain terminations within 90 days of the Distribution Date, as described in the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb Severance Plans and other written communications to Active Zimmer Employees) to the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb Severance Plans as in effect as of the Distribution Date.
Your termination will be considered due to “Retirement” only if you terminate your employment with the Company or a Related Company at any time after your age plus your years of employment with the Company or a Related Company total 70 or greater (Rule of 70).

More Definitions of Rule of 70

Rule of 70 means, and is deemed satisfied if, as of the date of determination, the sum of (i) Participant’s age, and (ii) the number of Participant’s years of continuous service to Corporation and/or the Successor, equals or exceeds seventy (70). For purposes of determining whether the “Rule of 70” has been satisfied, only completed years of service shall be counted as service years. (f) “Statement of Performance Objectives” means the statement of Performance Objectives as approved by the Administrator with respect to the Performance Shares on the Grant Date and attached as Exhibit A hereto. (g) “Vesting Date” means the Original Vesting Date, or, if earlier, the date on which the Performance Shares actually become earned and nonforfeitable by Participant pursuant to the terms of this Agreement.

Rule of 70 means a Participant’s age plus Years of Service equals seventy (70).

Rule of 70 means the special requirements for early retirement as described in Section 3.2 of the Mead Johnson Nutrition (Puerto Rico) Inc. Retirement Plan.

Rule of 70 has the meaning set out in the Evercore LLP Agreement;

Rule of 70 means that the Participant has met the provisions in Section 3.2(b) of the Mead Johnson & Company Retirement Plan.

Rule of 70 means, and is deemed satisfied if, the sum of (i) Participant’s age, and (ii) the number of Participant’s years of continuous service to Corporation and/or the Successor, equals or exceeds seventy (70). For purposes of determining whether the “Rule of 70” has been satisfied, only completed years of service shall be counted as service years. (f) “Statement of Performance Objectives” means the statement of Performance Objectives as approved by the Administrator with respect to the Performance Shares on the Grant Date and attached as Exhibit A hereto. (g) “Vesting Date” means the Original Vesting Date, or, if earlier, the date on which the Performance Shares actually become earned and nonforfeitable by Participant pursuant to the terms of this Agreement.