Termination for Retirement or Death 6 2.5 Termination for Cause or by the Executive Other 7 Than for Good Reason 2.6 Notice of Termination 7 3 Form and Timing of Severance Benefits
Termination for Retirement. In the event Optionee’s employment is terminated by Optionee’s Retirement, all outstanding unvested Options shall be forfeited and all vested Options shall remain exercisable at any time prior to the end of the Exercise Term or for one (1) year after the date of Retirement, whichever period is shorter.
Termination for Retirement. If the Participant’s employment with the Company terminates due to Retirement, the Vested Portion of the SSARs shall remain exercisable until the Expiration Date; and
Termination for Retirement. In the event that the Grantee’s employment by the Company (or any Subsidiary or Affiliate of the Company) terminates by reason of Retirement, the time-based forfeiture restrictions on those Performance Units earned by the Grantee for any Performance Period ended prior to the date of the Grantee’s Retirement shall lapse, without regard to whether the Grantee shall have completed the applicable Required Employment Period, and, subject to Pinnacle Bank’s NPA Ratio as of December 31, 2024 being equal to or less than [ ], the Grantee shall be entitled to receive in settlement of such Performance Units a like number of shares of the Company’s Common Stock in accordance with the timing and other provisions of Section 1(b) of this Agreement. In addition, in the event that the Grantee’s employment by the Company (or any Subsidiary or Affiliate thereof) terminates by reason of Retirement, a pro rata portion of the Performance Units that would have vested for the Performance Period in which the Grantee’s Retirement occurred but for the fact that the Grantee was not employed for the entire Performance Period shall be eligible to vest, without regard to whether the Grantee shall have completed the applicable Required Employment Period, and the Grantee shall be eligible to vest in that number of Performance Units as shall equal the product of (i) the number of Performance Units granted under this Agreement for the Performance Period in which the Grantee’s employment terminates by reason of Retirement that would have vested based on the Company’s actual performance for the Performance Period and (ii) the quotient, expressed as a percentage, resulting from dividing (A) the number of days that have lapsed as of the Grantee’s date of Retirement from the first day of the applicable Performance Period and (B) 365, and, subject to Pinnacle Bank’s NPA Ratio as of December 31, 2024 being equal to or less than [ ], the Grantee shall be entitled to receive in settlement of such Performance Units a like number of shares of the Company’s Common Stock in accordance with the timing and other provisions of Section 1(b) of this Agreement. In the event that the Grantee dies following the termination of his employment for Retirement but before shares of the Company’s Common Stock are issued to the Grantee in accordance with this Section 4(c) and Section 1(b) of this Agreement, all such shares shall, on a date selected by the Company that is not later than the seventy-fifth (75th) day afte...
Termination for Retirement. Subject to clause (v) of this Section 5(d), if the Executive’s employment is terminated by reason of Retirement during the Term, the Executive shall be entitled to the payments and benefits identified in this Section 5(d).
Termination for Retirement. Termination by the Company of the Executive's employment based on "Retirement" shall mean termination in accordance with the Corporation's normal retirement policy applicable to its salaried employees as in effect immediately prior to the Change in Control or in accordance with any other retirement arrangement established with the Executive's consent with respect to the Executive.
Termination for Retirement. If the Participant ceases to be an employee of the Company or any Affiliate by reason of Retirement at a time when the participant’s employment could not have been terminated for Cause, then the Award (i) shall be exercisable in full without regard to any vesting requirements; provided that an Option of a Participant who Retires shall be exercisable in full only if the participant Retires on or after the first anniversary of the Grant Date, and (ii) will remain exercisable until the Award’s expiration date.
Termination for Retirement. If the Executive’s employment is terminated by reason of Retirement during the Term, the Executive shall be entitled to the following:
Termination for Retirement. If the Participant’s employment with the Company terminates due to Retirement, the Vested Portion of an Option shall remain exercisable until the Expiration Date; and
Termination for Retirement. If the Optionee's employment with the Company terminates as a result of Retirement (as defined below), then the Optionee (or anyone acting on Optionee's behalf) may exercise the Option, to the extent it was exercisable on the date of Optionee's Retirement, for four years following such date. At the end of such period the exercisable portion of the Option shall immediately terminate. If the Optionee has attained at least age 60 upon the date of his or her Retirement, then an additional portion or portions of this Option shall become fully exercisable on the date of the Optionee's Retirement as follows: Age Attained Acceleration of Exercisability Age 60, but not yet age 62.5 Next Installment Otherwise Scheduled to Become Exercisable Age 62.5, but not yet age 65 Next Two Installments Otherwise Scheduled to Become Exercisable Age 65 and beyond Option Becomes Fully Exercisable
