Definition of Tenured Retirement


Tenured Retirement means a voluntary termination of employment by Executive which meets all of the following requirements:
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Examples of Tenured Retirement in a sentence

After attainment of age 70, Grantees Retirement shall be deemed to be a Tenured Retirement.
Any Retirement that is not either a Tenured Retirement or an Early Retirement shall be deemed to be a Standard Retirement, which shall be treated in accordance with Section I(A) above.
Upon a Tenured Retirement, Grantee shall vest in all of the Restricted Stock Units then outstanding.
If Grantees service as a member of the Board terminates because of his or her death or Disability and, at the time of such termination of service Grantee would have been eligible for either a Tenured Retirement or an Early Retirement, the Restricted Stock Units shall be treated as if Grantees service had terminated due to such applicable form of Retirement (rather than due to death or Disability, as applicable) if such treatment would result in a greater number of Restricted Stock Units becoming vested.
Upon a Tenured Retirement, the Option, to the extent it has not expired or been terminated, shall vest and become exercisable in full, and may be exercised by the Optionee, or Optionees Successor at any time, or from time to time, up to and including the date the Option expires.