Example ContractsClausesVesting Upon Retirement
Vesting Upon Retirement
Vesting Upon Retirement contract clause examples

Accelerated Vesting Upon Death, Disability or Retirement. If you cease to be an Employee or Director because of death, Disability or (in the case of Employees Only) Retirement at or after age 65 during the Performance Period, all restrictions remaining on your Performance-Based Restricted Stock shall terminate automatically and your Performance-Based Restricted Stock shall become immediately fully vested and nonforfeitable at the Target Award level.

Vesting Upon Termination. In the event Executive’s employment is terminated pursuant to this Section 6(d), Executive’s then unvested restricted stock units and restricted stock granted under the Company’s stock incentive plans after the Executive became an employee of the Company, shall vest as they would have vested during the twelve (12) months following the Termination Date; but, with respect to any performance stock units, such equity would only vest to the extent that the Executive had achieved the performance criteria at the Termination Date, with no further vesting to occur. In the event that Executive’s employment is terminated pursuant to Section 6(a) (Death), Executive’s then unvested time-vesting stock units (“RSUs”) and restricted stock, granted under the Company’s stock incentive plans, one hundred percent (100%) of Executive’s then unvested RSUs and restricted stock shall become vested. No other form of equity granted to Executive (performance stock units, stock options, etc.) shall be vested, but shall be forfeited and cancelled.

Compensation Upon Retirement. In consideration of Executive’s retirement on the Retirement Date and Executive fulfilling his obligations under this Agreement including his obligations during the Transition Period, and subject to Executive executing the General Release attached as Exhibit A hereto in accordance with Section 11 of this Agreement and such General Release becoming effective on the eighth day after execution thereof without Executive exercising his right to revoke such General Release, Executive shall be entitled to the items of compensation set forth in Sections 4, 5, 6 and 7 of this Agreement. Executive and the Company acknowledge and agree that Executive would not be entitled to all of such items of compensation had he not executed this Agreement and the General Release and that such items of compensation constitute compensation to which Executive is not otherwise entitled.

Vesting Upon Retirement. In the event that the Grantee’s employment with the Company shall terminate prior to December 31, 2021 because of Retirement in the absence of Cause, a pro rata portion of the ROIC Shares and the TSR Shares shall become non-forfeitable on the Vesting Date based on the actual performance achieved under Section 1(b) and (c) whereby the pro rata portion shall be determined by dividing the number of complete quarters in the performance period until Retirement by twelve (12). The distribution of the non-forfeitable ROIC Shares and TSR Shares under this Section 3(b) shall be made at the same time as the distribution of the Performance Shares that would have been made under Section 2.

Vesting Upon Death. If you die while an Employee of CBI and prior to your being deemed vested in the Award pursuant to paragraph 2, 4 or 5 hereof, then # on the date of your death you shall be deemed vested in a pro rata portion of the Restricted Cash Amount that bears the same ratio to the total Restricted Cash Amount awarded you under this Agreement as the number of days in the period that begins on the Award Date and ends on the date of your death bears to the number of days in the period that begins on the Award Date and ends on the third annual anniversary of the Award Date; and # within the 60

Vesting Upon Retirement. In the event that the Grantee’s employment with the Company shall terminate prior to December 31, 2024 because of Retirement in the absence of Cause, a pro rata portion of the ROIC Shares and the TSR Shares shall become non-forfeitable on the Vesting Date based on the actual performance achieved under Section 1(b) and (c) whereby the pro rata portion shall be determined by dividing the number of complete calendar quarters in the applicable performance period until Retirement by twelve (12). The distribution of the non-forfeitable ROIC Shares and TSR Shares under this Section 3(b) shall be made at the same time as the distribution of the Performance Shares that would have been made under Section 2.

Vesting Upon Retirement. In the event that the Grantee’s employment with the Company shall terminate prior to January 5, 2023 because of Retirement in the absence of Cause, a portion of any TBRSUs which are forfeitable as of such date shall become non-forfeitable, with such portion being equal to # the total number of TBRSUs granted hereunder, multiplied by a fraction, the numerator of which is the number of complete calendar quarters which have elapsed from the Date of Grant to the date of Retirement, and the denominator of which is twelve (12), less # the number of TRBRSUs granted hereunder that have already become non-forfeitable hereunder. The distribution of shares underlying the TBRSUs which become non-forfeitable under this Section 3(b) shall be made within thirty (30) days after the end of the calendar year of the Retirement, but notwithstanding anything to the contrary, in all events within the “short-term deferral” period determined under Treasury Regulation Section 1.409A-1(b)(4).

Early Retirement Vesting. [To be specified in individual awards.]

Compensation Upon Retirement. In consideration of Executive’s retirement on the Retirement Date and Executive fulfilling his obligations under this Agreement and the Employment Agreement, Executive shall be entitled to the compensation set forth in Sections 4, 5, 6 and 7 of this Agreement. Executive and the Company acknowledge and agree that Executive would not have been entitled to all of said compensation had Executive not executed this Agreement and the Release Agreement (as defined below) and that such items of compensation constitutes consideration sufficient to make this Agreement binding.

Vesting Upon Retirement. In the event that the Grantee’s employment with the Company shall terminate prior to January 5, 2024 because of Retirement in the absence of Cause, a portion of any TBRSUs which are forfeitable as of such date shall become non-forfeitable, with such portion being equal to # the total number of TBRSUs granted hereunder, multiplied by a fraction, the numerator of which is the number of complete calendar quarters which have elapsed from the Date of Grant to the date of Retirement, and

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