Retirement Contract Clauses (234)

Retirement. In the event that your employment with the Company or its subsidiaries or Affiliates is terminated due to Retirement after December 31, 2019, but prior to the end of the Performance Period, shares of Stock shall be issued during the period January 1 to March 15 of the calendar year following the end of the Performance Period on a prorated basis based on actual performance as determined at the first Committee meeting following the Performance Period. The number of shares of Stock to be issued und...er the prorated Award shall be determined by calculating (a)(i) the number of Units set forth herein multiplied by (ii) the quotient of the number of full and partial months that you worked during the Performance Period (rounded up to the nearest whole month) divided by 36, and then multiplying the product of (a)(i) and (a)(ii) by (b) the percentile performance amount, as calculated in accordance with the terms of the Program. In the event that you terminate your employment due to Retirement prior to January 1, 2020, the Award shall be forfeited in its entirety. View More

Retirement. If, prior to the Vesting Date, Participant's Employment terminates as a result of his/her Retirement, and such termination occurs on or after the December 31st immediately following the Grant Date, all PBRSUs that are outstanding and unearned as of such Retirement will remain outstanding and be eligible to be earned in accordance with Schedule A, and, to the extent so earned, will vest immediately upon being earned. For the purpose of this Agreement, a termination of Employment shall be deemed t...o be a "Retirement" if all of the following conditions are satisfied: (i) Participant's Employment terminates (other than for Cause), (ii) he or she is either (x) 65 years of age or older, as of the date of such termination, or (y) 60 years of age or older, as of the date of such termination and, immediately prior to such termination, Participant has been in continuous Employment for five or more years, and (iii)(1) Participant provides the Company not less than six months' advanced written notice of Participant's intent to retire (the "Notice Period"), and (2) Participant remains in continuous Employment and in good standing during such Notice Period and terminates Employment at the end of such Notice Period. The Company may, in its sole discretion waive, in whole or in part, the requirements of clause (iii) of the preceding sentence. In the event that Participant's Employment is terminated for Cause during the Notice Period, the PBRSUs will be automatically cancelled and forfeited and shall be returned to the Company for no consideration. Notwithstanding the foregoing, in the event a Change in Control occurs prior to Participant's termination of Employment as a result of his or her Retirement, effective immediately upon the occurrence of such Change in Control, the terms of this Section 7 will be void and shall immediately terminate and be of no further force and effect. View More

Retirement. 1.1 Removal from Positions. Executive shall retire from employment with the Company and its subsidiaries and affiliates (collectively, the "Company Group") on April 28, 2022 (such date, the "Retirement Date"). In that regard, as of the Retirement Date, Executive's position as President and Chief Executive Officer of the Company and all other officer positions, directorships, and other positions that Executive holds with the Company Group shall terminate. 1.2 Release Agreement. Executive's receip...t of any payments and benefits pursuant to this Agreement (other than the payments and benefits pursuant to Sections 4.1(a) and (b) (the "Accrued Obligations")) is subject to Executive's signing and not revoking the Release Agreement substantially in the form attached hereto as Exhibit A (the "Release Agreement"); provided that the Release Agreement is effective within 30 days following the Retirement Date. No payments or benefits under this Agreement (other than the Accrued Obligations) shall be paid or provided to Executive until the Release Agreement becomes effective in accordance with the deadline specified in the preceding sentence. View More

Retirement. Subject to the other provisions of this Agreement and the Plan, if the Participant Retires (or dies or becomes disabled at a time when the Participant had satisfied the age and years of service requirements specified in the definition of Retirement), then notwithstanding the terms of Section 1 of this Agreement, all unvested RSUs hereunder shall not be forfeited and the RSUs shall continue to be eligible to vest (and shall remain subject to Transfer Restrictions, as defined in Section 5 below, u...ntil so vested) as set forth in Section 1 of this Agreement (subject to the Forfeiture Condition set forth in clause (b)(iii) thereof). For the avoidance of doubt, this provision shall only apply with respect to RSUs not previously forfeited as a result of the occurrence of a Forfeiture Condition. For purposes of this Award, "Retire" and "Retirement" mean termination of the Participant's employment (other than a termination for cause) after attainment by the Participant of age fifty-five (55) and ten (10) years of continuous service with the Company and/or its subsidiaries, provided that such termination constitutes a separation from service within the meaning of Section 409A. View More

Retirement. If you terminate employment with the Company due to your Retirement (within the meaning of that term as defined below), then you will be deemed to be employed by the Company or one of its subsidiaries continuously for a period that begins on the Award Date and ends on the third annual anniversary of the Award Date for purposes of determining the extent to which and the date on which any Units will have vested. CBI shall distribute to you (or, in the event of your death prior to payment, the exec...utor, administrator or other personal representative of your estate) a number of Shares equal to the number of such Units in which you become vested (but subject to the tax withholding requirements included in the Plan). Such distribution shall be made on a date that is within January 25, 2021 and March 26, 2021, with the specific date within such period on which such distribution will be made being chosen by the Compensation Committee in its discretion. For purposes of this paragraph 5, "Retirement" means your termination of employment with the Company (a) at least one year after the Award Date, (b) after you have both attained at least age 55 and completed at least 10 years of employment with the Company, and (c) other than by reason of your fraud, misappropriation or embezzlement, gross insubordination, failure to perform in good faith your assigned duties, or any other reason for which a termination of employment would be deemed for "cause" under any employment agreement between you and the Company that is in effect at the time of your termination of employment with the Company. View More

Retirement. If without having fully exercised the Option you have a Termination of Service by reason of Retirement, then (a) any Shares Granted under the Option that are not vested at that time shall thereupon become vested, and (b) you may exercise the Option for the full number of Shares Granted (less any shares for which the Option was previously exercised) until the Expiration Date noted above.

Retirement. If during the Performance Period you have a Termination of Service by reason of Retirement, then the number of Performance Shares earned (based on performance as of the end of the Performance Period) will be prorated to reflect the portion of the Performance Period during which you remained employed by the Company. Such prorated portion shall equal the full number of earned Performance Shares, multiplied by a fraction equal to the number of full months of the Performance Period completed as of y...our retirement date, divided by 36. Any Performance Shares becoming vested by reason of your Retirement shall be paid at the same time Performance Shares are paid to other Participants. View More

Retirement. If, at the time of your Termination of Employment, you have attained age 55 and have completed at least five years of service, your Restricted Unit Award will vest pro rata (standard rounding to the nearest Unit, in full-month increments) based on (i) the number of whole months that you have completed from the Grant Date through the end of the month in which your Termination of Employment occurs, over the original number of months of the vesting period, times (ii) the total number of Restricted ...Units awarded on the Grant Date minus (iii) the number of Restricted Units previously vested under the Normal Vesting Terms; provided, however, that you will not be entitled to the accelerated vesting under this Section 9 until you have completed at least one year of service following the Grant Date. Termination of Employment within twelve (12) months of the Grant Date will result in the forfeiture of your Restricted Unit Award, except as otherwise provided for under Sections 7, 8, 10, and 11 herein. Shares issuable for any portion of your Restricted Unit Award and DEUs that vest pursuant to this Section 9 will be delivered in accordance with Section 5. Notwithstanding the foregoing, if the Company receives an opinion of counsel that there has been a legal judgment and/or legal development in your jurisdiction that likely would result in the favorable retirement treatment, which otherwise would apply to the Restricted Units pursuant to this Section 9, being deemed unlawful and/or discriminatory, then the Company will not apply the favorable retirement treatment at the time of your Termination of Employment and the Restricted Units will be treated as they would under the rules that otherwise would have applied as if your Termination of Employment did not qualify as a retirement pursuant to this Section 9. View More

Retirement. Notwithstanding Section 2, solely with respect to Restricted Stock Awards that were granted at least twelve months prior to the date of the Grantee's Retirement, upon the Grantee's Retirement, unvested Granted Stock will vest pro rata (as described below) based on the length of the Grantee's Service from the Grant Date through the Grantee's Retirement relative to the full vesting period covered by the Award, less any previously vested Granted Stock For example, if the Grantee's Retirement occurs... 18 months after the Grant Date and the Award vests ratably over four years, the Grantee will vest in 37.5% of the Granted Stock relating to the Award (having served 18 out of 48 months covered by the Award), less 25% of previously vested Granted Stock. For purposes of this Award, "Retirement" means (A) the Grantee's voluntary termination of Service on or after meeting the Rule of 70, where the Grantee is at least 60 years old and has been employed by or in the service of the Company for a period of at least five full consecutive years (if the employee joined the Company through an acquisition or merger, years of service at the predecessor company and years of service of the Company are included in the Grantee's years of service); and (B) the Grantee provides the Company with at least six months' prior written notice of his or her intent to retire and the Grantee is employed or in the service of the Company through the end of such six month period. "Rule of 70" means the sum of the Grantee's age plus the Grantee's years of service with the Company is at least 70 (if the employee joined the Company through an acquisition or merger, years of service at the predecessor company and years of service of the Company are included in the Grantee's years of service), in each case measured at the time of Grantee's termination of employment. The notice period could be shortened by the Company if mutually agreed upon. View More

Retirement. Unless terminated sooner, your employment with the Company and its subsidiaries and other controlled affiliates will end upon your retirement on December 31, 2019 (the "Retirement Date"). You hereby resign from all directorships, officerships and other positions with the Company and its controlled affiliates as of and with effect from the Retirement Date. You agree to sign all appropriate documentation, if any, prepared by the Company in connection with those resignations. The Company and you ag...ree that this Agreement satisfies any notice requirement that otherwise may apply to your retirement and termination of employment under your Employment Agreement, dated as of August 14, 2012, as amended, between the Company and you (your "Employment Agreement") and any other agreement between you and the Company or any of its affiliates. View More