Qualified Retirement Sample Clauses
The Qualified Retirement clause defines the conditions under which an employee’s departure from a company is considered a "qualified retirement" for the purposes of benefits or compensation plans. Typically, this clause specifies criteria such as minimum age and years of service that must be met for the retirement to be deemed qualified, which may entitle the employee to certain post-employment benefits like accelerated vesting of equity awards or continued health coverage. Its core function is to clearly outline eligibility for retirement-related benefits, ensuring both the employer and employee understand when enhanced retirement provisions apply and reducing disputes over benefit entitlements.
Qualified Retirement. In the event of your Qualified Retirement:
Qualified Retirement. If Recipient terminates employment due to a Qualified Retirement, Recipient shall become vested in a prorated number of Earned RSUs. A “Qualified Retirement” means the Recipient voluntarily terminates employment on or after Recipient attains age 65 and has at least four complete years of employment with the Company or a Subsidiary. The prorated portion of the Earned RSUs that is vested as of Recipient’s Qualified Retirement shall be the total number of Earned RSUs multiplied by a fraction, the numerator of which shall be the number of full months elapsed from the Date of Grant through the date of Recipient’s Qualified Retirement, and the denominator of which shall be 48. The Vesting Date for additional RSUs vesting under this Section 1.4(d) shall be the date of Recipient’s Qualified Retirement. Payment upon Qualified Retirement shall be the total number of shares vested as a result of this Section 1.4(d), reduced by the number of Shares previously delivered to Recipient. Notwithstanding anything in this Agreement to the contrary, in no event will any Settlement occur prior to the applicable Vesting Date (i.e., the Vesting Date set forth in Section 1.2 unless the Vesting Date is earlier pursuant to Section 1.4 as a result of Recipient’s death or Qualified Retirement).
Qualified Retirement. In the event the Participant’s employment with the Company and any subsidiary of the Company terminates by reason of a Qualified Retirement, Participant (a) shall continue to vest in the Option for a period of three (3) years following the Participant’s retirement date and (b) may exercise the Option, to the extent vested, at any time within the period of three (3) years following the Participant’s retirement date, but not beyond the original term of the Option, in both cases as long as no government regulations or rules are violated by such continued vesting or exercise period. To the extent unvested or unexercised at the end of the three (3) year period following the Participant’s retirement date, the Option shall be forfeited. In the event the Participant’s termination of employment qualifies as a Qualified Retirement and the Participant also enters into a severance agreement with the Company, the terms of this Section 9 shall apply with respect to the vesting and exercise of the Option as of the employment termination date. A “Qualified Retirement” shall mean a termination of employment on or after attainment of age fifty-five (55) with at least ten (10) years of continuous service or attainment of age sixty (60) with at least five (5) years of continuous service, provided that: (i) if the Participant terminates employment voluntarily, the Participant has provided the Company with at least ninety (90) days advance written notice, in accordance with the provisions of Section 14 below, of the Participant’s retirement date or such other term of advance written notice as is determined by the Chief People Officer of the Company; or (ii) if the Company terminates the Participant’s employment, such termination is without Cause. The Participant shall also be deemed to have experienced a Qualified Retirement if the Company terminates the Participant’s employment without Cause and the Participant shall meet the age and service requirement set forth above during the severance period set forth in a written severance agreement with the Company.
Qualified Retirement any termination of the Optionee's employment with the Company or its Subsidiaries for any reason (other than death, Disability or an involuntary termination for Cause) if, at or immediately prior to the date of such termination, the Optionee satisfies both of the following conditions:
(1) the Optionee shall be 55 years of age or older; and
(2) the sum of the Optionee's age and completed years of service as an employee of the Company or its Subsidiaries (disregarding fractions, in both cases) shall total 70 or more.
Qualified Retirement. If Recipient terminates employment due to a Qualified Retirement that occurs at least one year from the Date of Grant, RSUs shall continue to vest as scheduled in Section 1.2 of this Agreement. A “Qualified Retirement” means Recipient voluntarily terminates employment on or after such time as the Recipient’s has attained at least fifty-five (55) years of age and Recipient has completed a minimum of 10 years of Service. Notwithstanding anything in this Agreement to the contrary, in no event will any Settlement occur prior to the applicable Vesting and any unsettled RSUs shall be forfeited without consideration immediately upon the breach of any of the following conditions:
Qualified Retirement. In addition to the benefits provided in Article XIII Section 1, Custodians employed prior to July 1, 1992 who have completed twenty (20) years of full-time service at the date of resignation from the School District (exluding time spent on unpaid leave) shall be entitled to $6742 at Grade 4 or $6,964 at Grade 7 as determined by Article XIII, section 3 of the July 1, 1992 – June 30, 1994 Custodial Master Agreement. Said amounts shall be reduced by the amount of the School District’s total matching contributions, excluding the earnings from such School District contribution to the custodian’s Minnesota Deferred Compensation Plan and/or Tax Sheltered Annuity calculated on the June 30th following retirement.
Qualified Retirement. Participants who have at least ten years of service and leave the Company, or one of its affiliates, voluntarily due to retirement will be eligible for the accelerated vesting of this Award per the following schedule: • Participants ages 65-68 are eligible for the accelerated vesting of 40% of the Award. • Participants over the age of 68 are eligible for the accelerated vesting of 50% of the Award.
Qualified Retirement. Qualified Retirement shall mean a retirement from the Company meeting all of the following criteria: (a) the Optionee has been continually employed by the Company from the date hereof through May 1, 2006, and (b) the Optionee has notified the Company of such retirement at least one year prior to such retirement.
Qualified Retirement. Notwithstanding anything herein to the contrary, unless otherwise determined by the Plan Administrator, “Qualified Retirement” shall mean Termination of Employment at age 60 or older (or at such lower mandatory retirement age required by applicable India law, if any) with at least 5 years of continuous service with an Employer through your Termination Date (excluding service with acquired entities before the acquisition).
Qualified Retirement. Upon a Qualified Retirement under Section 3.3 of the Plan, a pro rata Annual Bonus paid based on the Company’s actual projected performance at the time of retirement.