Retirement Eligibility. Any teacher who would have qualified for retirement during the reduction year shall be permitted to teach that year so as to acquire needed service. This provision may be invoked only once by a teacher.
Retirement Eligibility. Upon Employee’s retirement, the Company shall pay to Employee all of Employee’s accrued but unpaid Base Salary through the date of retirement. In addition, for all stock option or restricted stock awards (“Equity Awards”) and all monetary awards (including Annual Awards and Long Term Awards pursuant to the Plan and any retirement contributions to the deferred compensation program) (“Monetary Awards”), in each case granted to Employee prior to July 26, 2006 (“Prior Awards”), such Employee shall be eligible to retire for purposes of the Prior Awards, and such Prior Awards shall fully vest in the event of such retirement, upon attaining either (a) the age of fifty-five (55) and having completed six (6) years of service with the Company or (b) the age of sixty-five (65) without regard to years of service with the Company (the “Original Retirement Policy”). For all Equity Awards and/or Monetary Awards granted to Employee following July 26, 2006 (“Prospective Awards”), the Original Retirement Policy shall apply, and such Prospective Awards shall fully vest in the event of such retirement, provided, and only to the extent that, Employee shall provide the Company with not less than twelve (12) months prior written notice of Employee’s intent to retire. Failure by Employee to provide such written notice shall cause the Revised Retirement Policy (as hereinafter defined) to apply with respect to the vesting of Prospective Awards, but such failure shall have no effect whatsoever on the Prior Awards, all of which shall continue to be subject to the Original Retirement Policy. For purposes of this Agreement, (i) “Revised Retirement Policy” shall mean Employee has attained the age of (x) sixty (60) and has completed fifteen (15) years of continuous service with the Company or (y) sixty-five (65) with five (5) years of continuous service with the Company, and (ii) the Annual Awards and Long Term Awards includable within the Monetary Awards to be fully vested as provided above shall include all such Awards which have been granted to Employee, but which, as of the date of his retirement, have not been determined to have been earned pursuant to the Plan and in such instance Employee shall be paid, within thirty (30) days following the date of Employee’s retirement, an amount with respect to each such open Award equal to the full target amount that the Compensation Committee of the Board of Directors was authorized to cause to be paid to Employee pursuant to the Plan had his ...
Retirement Eligibility. An employee is eligible for retirement benefit payments under the following conditions: After twenty-three (23) years or more of credited service with no age restriction. At sixty (60) years of age with a minimum of eight (8) years of credited service. Deferred retirement after fifteen (15) years of credited service with retirement benefit payments commencing when twenty-three (23) years of service would normally have been completed. Employees hired prior to January 1, 1988 may elect deferred retirement after eight (8) years of credited service with retirement benefit payments commencing when twenty-three (23) years of service would normally have been completed.
Retirement Eligibility. “Retirement Eligibility” means any time after the date (a) the sum of the Employee’s age and number of years of service of employment with the Company or any of its affiliates or subsidiaries is sixty-five (65) and (b) the Employee attains ten (10) consecutive years of employment with the Company or any of its affiliates or subsidiaries. 5.13
Retirement Eligibility. If, on or after the first anniversary of the Grant Date (and prior to the Vesting Date), the Grantee attains age 60 and completes 5 years of continuous employment with the Company and its Affiliates, then the employment criteria shall be deemed satisfied.
Retirement Eligibility. In order to be eligible for any District retirement benefits enumerated in Section B of this article an employee • Must have been hired prior to July 1, 2006, and • Have completed a minimum of fifteen (15) years' service with the District (or ten (10) years at the top of the salary schedule), and • Attained the age of fifty-seven (57), but not reached Medicare eligibility. Or • Attained thirty (30) years' creditable service with PERS for general service or twenty-five (25) years’ credible service for Police and Fire, but not reached Medicare eligibility.
Retirement Eligibility. An employee is eligible for retirement benefit payments under the following conditions: After twenty (20) years or more of credited service with no age restriction. After twenty-three (23) years or more of credited service with no age restriction for employees hired on or after January 1, 2000. Effective February 26, 2013, the years of service requirement shall change to twenty-five (25) years of service for all employees who were not fully vested as of said effective date. At sixty (60) years of age with a minimum of eight (8) years of credited service. At sixty (60) years of age with a minimum of fifteen (15) years of credited service for employees hired on or after January 1, 2000. Deferred retirement after fifteen (15) years of credited service with retirement benefit payments commencing when twenty (20) years of service would normally have been completed. Employees hired prior to January 1, 1988 may elect deferred retirement after eight (8) years of credited service with retirement benefit payments commencing when twenty (20) years of service would normally have been completed. Deferred retirement after fifteen (15) years of credited service with retirement benefit payments commencing when twenty-three (23) years of service would normally have been completed for employees hired on or after January 1, 2000. Effective February 26, 2013, the years of service requirement shall change to twenty-five (25) years of service for all employees who were not fully vested as of said effective date. Employees who are in the defined benefit plan, who were not vested on or before February 26, 2013 and who have a change in their retirement eligibility from 23 to 25 years of service under this Section shall be afforded an opportunity to purchase two (2) years of service by paying the full actuarially determined cost of the purchase of such time. This purchase shall be subject to paragraphs 8, 9, 10 and 12 of the Genesee County Employees’ Retirement System Service Credit Purchase Policy for Purchase of Other Governmental Service. Arrangement to purchase this time must be finalized, and an agreement signed by the employee, no later than June 30, 2014.
Retirement Eligibility a. In order to be eligible for any district retirement benefits enumerated in this Article, an employee must have a minimum of fifteen (15) years’ service with the Medford School District, have qualified for district medical insurance, have not reached Medicare eligibility, and be eligible for full PERS benefits. To be eligible for full PERS benefits, the employee must attain the age designated by PERS for Tiers I, II, and OPSRP, or at any age with thirty (30) years of creditable service. For OPSRP employees to be eligible to receive the Early Retirement Payout, the employee will need to retire in the month that the employee becomes eligible for full PERS.
Retirement Eligibility. If the Grantee meets the requirements for Retirement prior to the final Vesting Date listed above, then any unvested Options shall vest as of the later of the first anniversary of the Grant Date or the date on which such requirements for Retirement are first met. For purposes of this Grant Agreement Retirement is defined as attainment of: a. age 65;
Retirement Eligibility. In the event of an involuntary termination of your employment by the Company without Cause following 62/10 Retirement Eligibility, provided that you execute and do not revoke an agreement and release of claims satisfactory to the Company, which will contain, inter alia, confidentiality, non-compete (if applicable), non-solicitation and non-disparagement covenants substantially in the form set forth in Sections 1, 2 (as applicable), 3 and 4 of Exhibit B (provided that in accordance with Section 6, the non-compete shall apply only to those Participants who are (x) Retirement Eligible Participants or (y) Managing Directors), within 60 days following termination of your employment, your unvested RSUs will fully vest and convert into Shares on the Vesting Date in accordance with Section 2. Notwithstanding anything to the contrary herein, in the event of a termination of your employment as described in this Section 4(c), pursuant to Section 6, you may still be bound by, and must comply with, the restrictive covenants set forth in Exhibit B, as applicable.
