Example ContractsClausesNormal Retirement Age
Normal Retirement Age
Normal Retirement Age contract clause examples

XX # Full vesting upon Death.

Normal Retirement Date for a Participant shall be the first day of the month coinciding with or next following the Participant's 65th birthday.

The later of age ​ or the ​ anniversary of the participation commencement date. The participation commencement date is the first day of the first Plan Year in which the Participant commenced participation in the Plan.

XX Change in Control Event

Normal Retirement Distribution. A Participant who remains in the employ of the Employer until his Normal Retirement Age will receive a Normal Retirement Benefit equal to the vested balance of his Account as of the date of his Retirement. Except as provided in [Section 10.3], payment of the Normal Retirement Benefit will begin on the first day of the second calendar month following the date of the Participant's Retirement in the form of equal annual installments through the date the Participant attains age eighty (80). Distributions will be made in the form of cash or Stock, depending on the Participant's investment crediting rates as provided in [Section 4.4]. The commencement of payment of the Normal Retirement Benefit will be subject to the six (6) month delay applicable to Key Employees under [Section 5.4]. A Participant who is entitled to a Normal Retirement Benefit distribution may elect to defer payment of such distribution pursuant to [Section 5.7].

Normal Retirement Date. The [[Team Member:Person]]’s Service terminates on or after the [[Team Member:Person]]’s Normal Retirement Date and the Company receives a valid unrevoked Release Agreement from the [[Team Member:Person]]. “Normal Retirement Date” is the date that is # on or prior to the [[Team Member:Person]]’s termination of Service, # at or after attaining age 55 and completing at least 5 years of Service (which 5 years need not be continuous), and # if the [[Team Member:Person]]’s termination of Service is voluntary, at least six months after the [[Team Member:Person]] commenced discussions with the Company’s Chief Executive Officer or most senior human resources executive regarding the [[Team Member:Person]]’s consideration of termination.

Normal Retirement Benefit. The Participant has been designated as a Group C Participant and shall be entitled to a Retirement Benefit calculated in accordance with the applicable provision of [Section 3.1] of the Plan. In addition to the offsets specified in Article III of the Plan, the Participant’s Retirement Benefit shall be calculated with an offset for the amount of any employer-funded benefit earned by the Participant under any other retirement plan sponsored by the Company or its subsidiaries, whether domestic or foreign.

Normal Retirement Date. The Participant’s Normal Retirement Date is October 1, 2030.

Age 65 Retirement. In the event that, during the Restricted Period, you are eligible at such time for Retirement (as that term is defined under [Section 2(x)(i)] of the Plan, which requires that you are least age 65), and you have been continuously employed by the Company or a subsidiary of the Company for at least one year following the Award Date, you shall be deemed fully vested in (i.e., the Restricted Period shall expire with respect to) the RSUs granted (taking into account RSUs previously vested) on the later of the date that you reach age 65 or the date that is the first anniversary of the Award Date (and, if you have not held the Award for at least one year following the Award Date as of the date that you incur a termination, the vesting of your Award will not be accelerated under this Section 2(c)(i), and you shall forfeit the Award). The timing of settlement of such RSUs shall be governed by Section 2(b) hereof. Following your Retirement, any RSUs that have not been deemed vested and that thereafter will not be deemed vested under this Section 2(c)(i) will be canceled and forfeited.

Normal Retirement – An employee's right to his account balance(s) shall be 100% vested and nonforfeitable upon the attainment of age 65, the normal retirement age. The vesting of an inactive participant who terminates employment prior to normal retirement age shall remain subject to the

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