Retirement Eligible Date definition

Retirement Eligible Date means the earliest date, if any, on which a Participant continues to be an employee of a Participating Company after (a) reaching age 65, or (b) reaching age 55 and having a minimum of ten (10) years of combined service with the Participating Companies.

Retirement Eligible Date of a Participant, means the date on which the Participant attains age 55 with at least ten years of service as a Board member. The Board or, in the case of a Participant other than the Chairman, the Chairman, in its, his or her discretion, may waive or reduce the ten-year service requirement with respect to a Participant; provided if any such waiver or reduction applies to a benefit subject to Section 409A of the Code, such waiver or reduction is made before the Outside Director performs the services for which the benefit is payable.

Retirement Eligible Date means the first date on which the Participant has attained age 55 with the Company and its affiliated companies.

Examples of Retirement Eligible Date in a sentence

• If the Participant dies on or after the Participant’s Retirement Eligible Date, distributions shall be made to the Participant’s Beneficiary in accordance with the Participant’s election under the Plan as to the time and form of payment.

• If the Participant dies (whether before or after Separation from Employment) before the Participant’s Retirement Eligible Date, the Participant’s Separation Distribution Account under this Section 4.3 shall be distributed to the Participant’s Beneficiary in a lump sum within 60 days following the Participant’s death.

• If the Participant’s Separation from Employment occurs (other than on account of death) before the Participant’s Retirement Eligible Date, the Participant’s Separation Distribution Account under this Section 4.3 shall be distributed in a lump sum payment within 60 days after Separation from Employment, except as otherwise required by section 409A of the Code.

• If a Participant Separates from Employment on or after the Participant’s Retirement Eligible Date, the amounts credited to the Separation Distribution Account shall be paid in accordance with the Participant’s election, in a lump sum or in annual installments over two to 15 years on the dates specified by the Participant under the Plan.

More Definitions of Retirement Eligible Date

Retirement Eligible Date means the date on which the Participant has either attained age 65, or age 55 with ten years of service with the Corporation or a Subsidiary. The Chief Executive Officer or, with respect to the Chief Executive Officer if the Chief Executive Officer is a Participant, the Committee, in his, her or its discretion, may waive or reduce the ten-year service requirement with respect to a Participant. Notwithstanding the preceding sentence, in the case of an Award subject to Section 409A of the Code, any such waiver or reduction that could affect the timing of payment of a Participant's Award shall occur no later than the end of the calendar year preceding the year in which the Participant performs the services for which the Award is granted.

Retirement Eligible Date means January 1, 2021, or such later date that is no later than June 30, 2021 mutually agreed by the Company and Executive in writing.