Common use of Normal or Early Retirement Clause in Contracts

Normal or Early Retirement. Each Participant who attains his Normal Retirement Age or, if so provided by the Employer in Section 1.06(b), Early Retirement Age, will have a 100-percent nonforfeitable interest in his Account regardless of any vesting schedule elected in Section 1.07. If a Participant retires upon the attainment of Normal or Early Retirement Age, such retirement is referred to as a normal retirement. Upon his normal retirement the balance of the Participant's Account, plus any amounts thereafter credited to his Account, subject to the provisions of Section 7.08, will be distributed to him in accordance with Article 8. If a Participant separates from service before satisfying the age requirements for early retirement, but has satisfied the service requirement, the Participant will be entitled to elect an early retirement distribution upon satisfaction of such age requirement.

Appears in 4 contracts

Samples: Adoption Agreement (Lawter International Inc), Adoption Agreement (Lexington Precision Corp), Resource Bancshares Mortgage Group Inc

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Normal or Early Retirement. Each If provided by the Employer in Section 1.07(e), each Participant who attains his Normal Retirement Age or, if so provided by the Employer in Section 1.06(b), or Early Retirement Age, Age will have a 100-percent nonforfeitable interest in his Account regardless of any in accordance with the vesting schedule schedule(s) elected in Section 1.07. If a Participant retires upon the on or after attainment of Normal or Early Retirement Age, such retirement is referred to as a normal retirement. Upon On or after his normal retirement retirement, the balance of the Participant's ’s Account, plus any amounts thereafter credited to his Account, subject to the provisions of Section 7.087.06, will be distributed to him in accordance with Article 8. If provided by the Employer in Section 1.07, a Participant who separates from service before satisfying the age requirements for early retirement, but has satisfied the service requirement, the Participant requirement will be entitled to elect an early retirement the distribution of his Account, subject to the provisions of Section 7.06, in accordance with Article 8, upon satisfaction of such age requirement.

Appears in 2 contracts

Samples: Important Note (Amylin Pharmaceuticals Inc), Adoption Agreement (ITC Holdings Corp.)

Normal or Early Retirement. Each Participant who attains his Normal Retirement Age or, if so provided by the Employer in Section 1.06(b), Early Retirement Age, Age will have a 100-100 percent nonforfeitable interest in his Account regardless of any vesting schedule elected in Section 1.07. If a Participant retires upon the attainment of Normal or Early Retirement Age, such retirement is referred to as a normal retirement. Upon his normal retirement the balance of the Participant's Account, plus any amounts thereafter credited to his Account, subject to the provisions of Section 7.08, will be distributed to him in accordance with Article 8. If a Participant separates from service before satisfying the age requirements for early retirement, but has satisfied the service requirement, the Participant will be entitled to elect an early retirement distribution upon satisfaction of such age requirement.

Appears in 2 contracts

Samples: Acadia Pharmaceuticals Inc, Concord Communications Inc

Normal or Early Retirement. Each Participant who attains his Normal Retirement Age or, if so provided by the Employer in Section 1.06(b), Early Retirement Age, Age will have a 100-100 percent nonforfeitable interest in his Account regardless of any vesting schedule elected in Section 1.07. If a Participant retires upon the attainment of Normal or Early Retirement Age, such retirement is in referred to as a normal retirement. Upon his normal retirement the balance of the Participant's Account, plus any amounts thereafter credited to his Account, subject to the provisions of Section 7.08, will be distributed to him in accordance with Article 8. If a Participant separates from service before satisfying the age requirements for early retirement, but has satisfied the service requirement, the Participant will be entitled to elect an early retirement distribution upon satisfaction of such age requirement.

Appears in 1 contract

Samples: Jaymark Inc

Normal or Early Retirement. Each Participant who attains his Normal Retirement Age or, if so provided by the Employer in Section 1.06(b), Early Retirement Age, will have a 100-100- percent nonforfeitable interest in his Account regardless of any vesting schedule elected in Section 1.07. If a Participant retires upon the attainment of Normal or Early Retirement Age, such retirement is referred to as a normal retirement. Upon his normal retirement the balance of the Participant's Account, plus any amounts thereafter credited to his Account, subject to the provisions of Section 7.08, will be distributed to him in accordance with Article 8. B. If a Participant separates from service before satisfying the age requirements for early retirement, but has satisfied the service requirement, the Participant will be entitled to elect an early retirement distribution upon satisfaction of such age requirement.

Appears in 1 contract

Samples: Adoption Agreement (Extended Systems Inc)

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Normal or Early Retirement. Each If provided by the Employer in Section 1.07(e), each Participant who attains his Normal Retirement Age or, if so provided by the Employer in Section 1.06(b), or Early Retirement Age, Age will have a 100-percent nonforfeitable interest in his Account regardless of any in accordance with the vesting schedule schedule(s) elected in Section 1.07. If a Participant retires upon the on or after attainment of Normal or Early Retirement Age, such retirement is referred to as a normal retirement. Upon On or after his normal retirement retirement, the balance of the Participant's Account, plus any amounts thereafter credited to his Account, subject to the provisions of Section 7.087.06, will be distributed to him in accordance with Article 8. If provided by the Employer in Section 1.07, a Participant who separates from service before satisfying the age requirements for early retirement, but has satisfied the service requirement, the Participant requirement will be entitled to elect an early retirement the distribution of his Account, subject to the provisions of Section 7.06, in accordance with Article 8, upon satisfaction of such age requirement.

Appears in 1 contract

Samples: Hayward Holdings, Inc.

Normal or Early Retirement. Each If provided by the Employer in Section 1.07(d), each Participant who attains his Normal Retirement Age or, if so provided by the Employer in Section 1.06(b), or Early Retirement Age, Age will have a 100-percent nonforfeitable interest in his Account regardless of any in accordance with the vesting schedule elected in Section 1.07. If a Participant retires upon the on or after attainment of Normal or Early Retirement Age, such retirement is referred to as a normal retirement. Upon On or after his normal retirement retirement, the balance of the Participant's Account, plus any amounts thereafter credited to his Account, subject to the provisions of Section 7.087.06, will be distributed to him in accordance with Article 8. If provided by the Employer in Section 1.06, a Participant who separates from service before satisfying the age requirements for early retirement, but has satisfied the service requirement, the Participant requirement will be entitled to elect an early retirement the distribution of his Account, subject to the provisions of Section 7.06, in accordance with Article 8, upon satisfaction of such age requirement.

Appears in 1 contract

Samples: Adoption Agreement (Fair Isaac & Company Inc)

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