Definition of Qualified Retirement Eligibility Date


Qualified Retirement Eligibility Date means the first day of the calendar month in which the Participant is scheduled to satisfy the age and years-of-service requirements for a Qualified Retirement.
Sample 1

Examples of Qualified Retirement Eligibility Date in a sentence

If Participant's Qualified Retirement Eligibility Date occurs on or after the Specified Date but prior to any vesting date specified in Paragraph 4(a) above, then fifty percent (50%) of each unvested Award Installment shall vest on the Participant's Qualified Retirement Eligibility Date and the remaining fifty percent (50%) of each unvested Award Installment shall remain unvested and subject to the terms of this Agreement.
Notwithstanding the foregoing, in the event that Participant's employment terminates as a result of Participant's death prior to the Participant's Qualified Retirement Eligibility Date, then the Restricted Stock Units (and any related Dividend Equivalents) will vest to the extent that the Award would have vested if Participant had remained employed for one year following the date of death, and the balance of the Award, if any, shall be forfeited.
For purposes of this Paragraph 4(b), "Qualified Retirement Eligibility Date" shall mean the first day of the earliest calendar month in which the Participant is scheduled to satisfy either of the age and years-of-service requirements for a Qualified Retirement as defined in Paragraph 4(b)(v) of this Agreement.
Notwithstanding the foregoing, after the Participant's Qualified Retirement Eligibility Date, except as provided in Paragraph 4(b)(ii)(A) above, the Award and all applicable Restricted Stock Units held by - 3 -Participant that are unvested or subject to restriction at the time of Participant's termination of employment for any reason, including death, shall be forfeited automatically.
Notwithstanding the foregoing, after the Participants Qualified Retirement Eligibility Date, except as provided in Paragraph 4(b)(ii)(A) above, the Award and all applicable Restricted Stock Units held by Participant that are unvested or subject to restriction at the time of Participants termination of employment for any reason, including death, shall be forfeited automatically.