Termination Related to Retirement Sample Clauses

Termination Related to Retirement. Upon Participant’s Termination of Employment due to Retirement at least one year after the Grant Date, a pro-rata portion of the Units granted under this Award Agreement shall immediately vest upon Participant’s Last Day of Employment. The pro-rata portion of Units shall be equal to a percentage based upon the number of whole months of service completed between the Grant Date and Participant’s Last Day of Employment divided by thirty-six (36), minus the number of Units already vested pursuant to Section 1.4.
Sample 1Sample 2Sample 3See All (9)
AutoNDA by SimpleDocs
Termination Related to Retirement. Upon Participant’s Termination of Employment due to Retirement at least one year after the Grant Date, a pro-rata portion of this Stock Option shall immediately vest and become exercisable upon Participant’s Last Day of Employment. The pro-rata portion of this Stock Option shall be equal to a percentage based upon the number of whole months of service completed between the Grant Date and Participant’s Last Day of Employment divided by thirty-six (36), minus the number of shares that already vested pursuant to Section 1.4 and rounded up to the next whole share.
Sample 1Sample 2Sample 3See All (5)
Termination Related to Retirement. Participant’s Termination of Employment due to Retirement at least one year after the Grant Date does not result in forfeiture of rights in the Units or accelerated vesting of the Units; rather, the Participant shall become vested in the Units as set forth in Section 1.4.
Sample 1Sample 2Sample 3See All (4)
Termination Related to Retirement. Participant’s Termination of Employment due to Retirement at least one year after the Grant Date does not result in forfeiture of rights in the Units or accelerated vesting of the Units; rather, the Participant shall become vested in the Units as set forth in Section 1.4. Notwithstanding the foregoing provisions of this Section 1.5 or anything else in this Agreement to the contrary, if, following the date that Participant ceases to be an employee of the Company due to the events described in this subsection (c), the Compensation Committee determines that Participant engaged in activities while an employee of the Company that would have been grounds for an involuntary Termination of Employment for Cause while Participant was employed by the Company, then (i) Participant shall forfeit all rights to payments or benefits under this Award Agreement; and (ii) all unsettled RSUs shall terminate, be forfeited, and be incapable of vesting.
Sample 1Sample 2Sample 3

Related to Termination Related to Retirement

  • Termination Related to a Change in Control The following provisions shall survive the expiration of the Term of this Agreement and the termination of Executive’s employment.

  • Termination Due to Retirement Subject to Section 7 below, in the event of Termination due to Retirement, then (regardless of any subsequent death of the Employee) the Option will continue to vest pursuant to Section 3, and the last date on which the Option may be exercised is the day prior to the Expiration Date.

  • TERMINATION UPON RETIREMENT Termination of Executive’s employment based on “

  • Termination of Employment Due to Retirement In the event of the Retirement of the Participant after nine months of the Performance Cycle have elapsed, the Participant’s Performance Units shall be settled based on the performance for the Performance Cycle and payable on a pro-rata basis as determined and certified by the Board after the close of the Performance Cycle as described below. Subject to the negative discretion of the Board, the Participant will be entitled to receive a payment equal to the product of (i) the pro-rata vesting percentage equal to the days of Participant’s Employment during the Performance Cycle divided by the total days in the Performance Cycle and (ii) the Payout Value. Such payment shall be made as soon as administratively feasible following the Board’s determination under Paragraph 2 and, in all cases, the payment shall be made within the first calendar year following the end of the Performance Cycle. If, in accordance with the Board’s determination under Paragraph 2, the Payout Value is zero, the Participant shall immediately forfeit any and all rights to the Performance Units. Upon the vesting and/or forfeiture of the Performance Units pursuant to this Paragraph 6 and the making of the related cash payment, if any, the rights of the Participant and the obligations of the Company under this Award Agreement shall be satisfied in full. The death of the Participant following Retirement but prior to the close of the Performance Cycle shall have no effect on this Paragraph 6.

  • Termination by Reason of Retirement If the Grantee's employment by the Company terminates by reason of Retirement (as defined in the Plan), the Restricted Stock Units granted hereunder shall not be forfeited but shall be settled in Stock to the Grantee on the same schedule as provided in Section 2 (or otherwise) as if the Grantee had continued employment through each such Vesting Date (or such other vesting event pursuant to Section 3.4 or Section 5.2).

  • TERMINATION UPON RETIREMENT, DISABILITY OR DEATH Termination by the Bank of the Executive based on "

  • Benefits Termination Except for any right the Executive may have under the federal law known as “COBRA” or other applicable law to continue participation in the Company’s group health and dental plans at his cost, the Executive’s participation in all employee benefit plans shall terminate in accordance with the terms of the applicable benefit plans based on the date of termination of his employment, without regard to any continuation of the Base Salary or other payment to the Executive following termination of his employment, and the Executive shall not be eligible to earn vacation or other paid time off following the termination of his employment.

  • Disability; Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Termination on Death or Disability Upon a termination of employment due to the Executive’s death or Disability, the Company shall have no further liability or further obligation to the Executive except that the Executive (or, if applicable, his estate or designated beneficiaries under any Company-sponsored employee benefit plan in the event of his death) shall be entitled to receive:

  • Termination of Employment Due to Death, Disability, or Retirement If the Optionee’s termination of employment is due to death, Disability, or Retirement (termination on or after age 65), or if Optionee terminates employment after age 55, the following shall apply:

Time is Money Join Law Insider Premium to draft better contracts faster.