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Vesting Upon Retirement
Vesting Upon Retirement contract clause examples
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Vesting Upon Disability. If, prior to your being deemed vested in the Award pursuant to paragraph 2, 3 or 5 hereof, your employment with CBI and its subsidiaries is terminated due to Disability (as defined in [subsection 2.9] of the Plan), then # 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 such termination 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; provided that, in the event your termination due to Disability occurs following a Change in Control, you shall be deemed vested in the portion of the Restricted Cash Amount that would have vested on the next CIC Vesting Date immediately following the date of such termination; and # within the 60 consecutive day period that begins on the date of such termination, CBI shall distribute to you a cash payment equal to the pro rata portion of the Restricted Cash Amount in which you have become vested under this paragraph 4 (subject to all applicable tax withholding requirements).

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 Disability. If, prior to your being deemed vested in the Award pursuant to paragraph 2, 3 or 5 hereof, your employment with CBI and its subsidiaries is terminated due to Disability (as defined in [subsection 2.9] of the Plan), then # 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 such termination 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 consecutive day period that begins on the date of such termination, CBI shall distribute to you a cash payment equal to the pro rata portion of the Restricted Cash Amount in which you have become vested under this paragraph 4 (subject to all applicable tax withholding requirements).

Upon a Participant’s Retirement, the balance within a Participant’s Account associated with the Employer Discretionary Contribution(s) and/or the Employer Supplemental Discretionary Contribution(s) shall be distributed in annual installments over a period of ten (10) years following the Participant’s Retirement, with the first such installment to be paid as soon as administratively feasible, but no later than sixty (60) days, following the Participant’s Retirement, and each of the nine subsequent installments to be paid as soon as administratively feasible, but no later than sixty (60) days, following each of the first nine anniversaries of the date of the Participant’s Retirement, in all cases, subject to [Section 6.6] (Distributions to Specified Employees).

Accelerated Vesting upon Death, Normal Retirement Age and Disability Retirement Date. Notwithstanding anything in the Plan to the contrary, a Participant's interest in the portion of his Account that is subject to the vesting schedule described in [Section 7.02(a)] hereof shall be fully (100%) vested and nonforfeitable upon:

Further, the provision of [Section 8(d)(2)] of the Plan as it relates to vesting upon normal or early retirement shall not apply to this Agreement. For the avoidance of doubt, the provisions of [Section 8(d)(2)] relating to death or Disability prior to vesting will apply such that upon the Employee’s death or Disability prior to the vesting date set forth in paragraph 2 above, Employee will immediately earn and become vested in the RSUs granted hereunder. No accelerated vesting of the Restricted Stock Units shall occur upon a Retirement or early retirement without the consent of the Administrator.

Termination upon the Retirement Date. Unless earlier terminated in accordance with this Section 5, Executive’s employment hereunder shall automatically terminate on the Retirement Date and, upon the Retirement Date, Executive shall receive the Accrued Amounts and, subject to Executive’s continued compliance with the Restrictive Covenants and Executive executing and not revoking a release of claims substantially identical to the release set forth in Section 7(g) below following the Retirement Date, Executive (or, if Executive should die prior to December 31, 2020, Executive’s estate) shall continue to be paid the Quarterly Payments in accordance with Section 2(d) above.

Stock Vesting Upon Termination. In the event Executive’s employment is terminated pursuant to this [Section 6(d)], Executive’s then unvested equity awards granted under the Company’s stock incentive plans after the Executive became an Executive of the Company shall continue to vest for a period of 3 months following the Termination Date, and, with respect to any options that are exercisable or become exercisable, such options shall remain exercisable for 3 months following the Termination Date, subject to such longer period as may be provided by the Company’s 2004 Incentive Stock Plan (as may be amended and/or restated or replaced from time to time).

Stock Vesting Upon Termination. In the event Executive’s employment is terminated pursuant to this [Section 6(d)], Executive’s then # unvested equity awards granted under the Company’s stock incentive plans prior to 2021 and after the Executive became an Executive of the Company shall continue to vest for a period of 12 months following the Termination Date, # unvested equity awards granted during or after 2021 under the Company’s stock incentive plans shall be forfeited and cancelled, and # with respect to any options that are exercisable or become exercisable, such options shall remain exercisable for 12 months following the Termination Date, subject to such longer period as may be provided by the Company’s 2004 Incentive Stock Plan (as may be amended and/or restated or replaced from time to time).

Stock Vesting Upon Termination. In the event Executive’s employment is terminated pursuant to this Section 6(d), Executive’s then unvested equity awards granted under the Company’s stock incentive plans after the Executive became an Executive of the Company shall continue to vest for a period of 6 months following the Termination Date, and, with respect to any options that are exercisable or become exercisable, such options shall remain exercisable for 6 months following the Termination Date, subject to such longer period as may be provided by the Company’s 2004 Incentive Stock Plan (as may be amended and/or restated or replaced from time to time).

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