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.
Appears in 2 contracts
Samples: Form of Stock Option Agreement (Sealy Mattress CORP), And Above) Special Retirement (Sealy Mattress CORP)
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 April 1, 2006, and (b) the Optionee has notified the Company of such retirement at least one year prior to such retirement.
Appears in 1 contract
Samples: Form of Stock Option Agreement (Sealy Mattress CORP)
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, (c) the Optionee is at least 58 years of age and (d) the Optionee has reached a total combined years of age and service (since such Optionee’s most recent hire date) which totals at least 74 (calculated on a monthly basis).
Appears in 1 contract
Samples: Stock Option Agreement (Sealy Corp)
