Common use of Voluntary Retirement Clause in Contracts

Voluntary Retirement. Executive may voluntarily retire after age 62½ years or upon attaining 20 years of service as an officer of Employer, Executive shall receive the severance benefits described under Section 7(b), i.e., as if the severance was a termination without cause by Employer. In order to exercise his rights under this Section 7(d), Executive shall provide Employer at least six months' prior written notice of his voluntary retirement. The amount due to Executive under this Section 7(d) shall be paid in a lump sum within 30 days following Executive's termination of employment, subject to the provisions of Section 7(j).

Voluntary Retirement. Executive may voluntarily retire after age 62½ years or upon attaining 20 years of service as an officer of Employer, Executive shall receive the severance benefits described under Section 7(b6(b), i.e., as if the severance was a termination without cause by Employer. In order to exercise his rights under this Section 7(d6(d), Executive shall provide Employer at least six months' prior written notice of his voluntary retirement. The amount due to Executive under this Section 7(d6(d) shall be paid in a lump sum within 30 days following Executive's termination of employment, subject to the provisions of Section 7(j6(j).

Voluntary Retirement. Executive may voluntarily retire after age 62½ years or upon attaining 20 years of service as an officer of Employer, 60 years. Executive shall receive the severance benefits described under Section 7(b), i.e., as if the severance was a termination without cause by EmployerEmployer up to a maximum payment of twenty-four (24) months. In order to exercise his rights under this Section 7(d), Executive shall provide Employer at least six months' prior written notice of his voluntary retirement. The amount due to Executive under this Section 7(d) shall be paid in a lump sum within 30 days following Executive's termination of employment, subject to the provisions of Section 7(j).