Retirement Eligible. (a) Except as otherwise provided in Section (1)(b) or in another subsection of this Section E, if the Participant is Retirement Eligible, any PSUs that will vest and Additional Shares that will be issued on the Vesting Date will be based on the extent earned for the Performance Period as determined in accordance with the provisions of Sections A – D above, and then reduced pro-rata by multiplying any such PSUs and Additional Shares by a fraction, the numerator of which is the number of full months in the Performance Period during which the Participant was actively in Service, and the denominator of which is the total number of months in the Performance Period. A partial month worked shall be counted as a full month if the Participant was actively working for 15 or more days in that month. All PSUs that do not vest in accordance with this provision shall be forfeited.
Retirement Eligible. Retirement Eligible shall mean the Executive has reached age sixty (60) and has been employed with the Company for a continuous period of at least five (5) years.
Retirement Eligible. (a) Except as otherwise provided in (1)(b) or another subsection of this Section E, if the Award Holder is Retirement Eligible, all RSUs held by the Award Holder will vest on the last day of the Performance Period, to the extent earned for the Performance Period, in an amount equal to the number of Target Shares that would vest in accordance with the provisions of Sections A – D above, if any, multiplied by a fraction, the numerator of which is the number of full months in the Performance Period during which the Award Holder was actively in Service, and the denominator of which is the total number of months in the Performance Period. A partial month worked shall be counted as a full month if the Award Holder was actively working for fifteen (15) days or more in that month. All RSUs that do not vest in accordance with this provision shall be forfeited.
Retirement Eligible. “Retirement Eligible” shall mean the Participant has attained the age of 55 and has been in continuous service to the Company or its Related Corporations as an employee or Associate for ten (10) years or more.
Retirement Eligible. (i) Except as otherwise provided in (d)(ii), if the Award Holder is Retirement Eligible but not in Service on the last day of the Performance Period (“Vesting Date”), a payout of the Award shall be due, to the extent earned, based upon the actual results relative to the applicable performance goal(s) for such Award for the original Performance Period, but reduced on a pro-rata basis by multiplying the amounts that would have been payable under the Award for the original Performance Period by a fraction, the numerator of which is the number of full months in the Performance Period during which the Participant was an active Employee and the denominator of which is the total number of months in the original Performance Period. A partial month worked shall be counted as a full month if the Participant was an active Employee for fifteen (15) days or more in that month. The Award shall be paid, in cash, as soon as practicable after the completion of the original Performance Period when Award payouts are made to active Employees (but in no event later than March 15 of the calendar year immediately following the end of the Performance Period).
Retirement Eligible. In the event you become Retirement Eligible during the Performance Period, you will be treated as continuing in employment for purposes of earning and vesting in this Performance Unit Award and will be paid in accordance with section 6 of this Award Agreement. “Retirement Eligible” means your age plus years of continuous service with the Company and its Affiliates total 80 or more and “Retirement” means you are Retirement Eligible and your employment is terminated for any reason, other than (i) for Cause, (ii) due to death or Disability, or (iii) in accordance with section 10 of this Award Agreement.
Retirement Eligible. The Award of a Participant who becomes Retirement eligible during the Performance Period but who does not retire during the Performance Period shall be settled no later than March 15 of the year immediately following the last day of the Performance Period, provided achievement of the performance measures is satisfied at threshold or better and the Participant remains employed with the Company or the Bank on such date.
Retirement Eligible. At least age 55 with at least ten (10) years of service, or • Age 65 or older Special Vacation Pay Employees who are eligible for retirement under the Company’s Retirement Plan, or are eligible for the RSA and are 55 years old with 10 years of service, or are age 65 or older, are eligible for Special Vacation Pay. Employees will receive Special Vacation Pay based upon a percentage of their base salary and the number of weeks’ vacation they would have taken in the calendar year following retirement. Special Vacation Pay does not apply to December 31 retirements, since those employees are eligible for the next calendar year’s vacation pay allotment. Special Vacation Pay does not apply in California. Pg. 16 International Paper Company Salaried Severance Plan – Exhibit 1
Retirement Eligible. If You are or become Retirement Eligible prior to the Distribution Date of a Tranche, an amount equal to satisfy Your Social Security tax and Medicare tax liability attributable to Your Vested Award shall be withheld from Your other wages. Alternatively, the Company may require You to pay, via personal check, the amount of the Social Security tax and Medicare tax liability. On the Distribution Date of each Tranche, the Company shall retain or sell, without notice, a sufficient number of Shares to cover the amount needed to fulfill its withholding requirements for Federal and state income taxes. You shall not be permitted to increase Your Federal income tax withholding above the statutory rate.
Retirement Eligible. Your Restricted Stock Units will become fully vested on the date you become Retirement Eligible during the Period of Restriction. The Company will then issue to you one (1) Share for each vested Restricted Stock Unit as soon as practicable following the original Vesting Date, as provided in your award summary (and not on the date you become Retirement Eligible and not on the date of Retirement), but in no event more than 60 days following the original Vesting Date. For purposes of the foregoing, “Retirement Eligible” means your age plus years of continuous service with the Company and its Affiliates total 80 or more and “Retirement” means your employment is terminated following becoming Retirement Eligible.
