Qualifying Retirement

Qualifying Retirement. Means an Outside Director's termination from the Board, including pursuant to the Outside Director's death or disability (as defined in Section 22(e)(3) of the Code), Disability, if such termination follows (i) five 5 full terms of Board membership and attainment of age 62 or greater, or (ii) ten 10 full terms of Board membership.

Qualifying Retirement. Means that the Employee has previously delivered written notice of Retirement to the Company and on the date of Retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 3 years 59 2 years 60 or older 3 years 2 years 1 year By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) 59 after ten (10) 10 years of service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) 58 that the Employee intends to retire at age sixty (60), 60, and (iii) the Employee later terminates employment at age fifty-nine (59), 59, then the Employee's retirement at age fifty-nine (59) 59 would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) 59 after ten (10) 10 years of service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) 58 that the Employee intends to retire at age sixty (60), 60, and (iii) the Employee terminates employment upon reaching age sixty (60), 60, then the Employee's retirement at age sixty (60) 60 would constitute a Qualifying Retirement. View More

Qualifying Retirement. Termination Applies to participants in the Plan who receive their first Award Opportunity pursuant to the Plan on or before January 24, 2018, and means termination of employment by a Participant during a Performance Period (i) after attainment of age 65, or (ii) after attainment of age 60 with at least 10 years of service and after completion of at least 12 months of continuous employment during such Performance Period. For purposes of clarity, whether a Participant's termination of employment... constitutes a Qualifying Retirement will be determined separately with respect to each Performance Period for which such Participant has an outstanding Award Opportunity at the time of termination of employment View More

Qualifying Retirement. Means that That the Compensation Committee of the Board of Directors of the Company ("Committee"), in its sole discretion, determines that the sole reason for the Participant's Termination of Service on or after the six month anniversary of the Date of Grant is a Qualifying Retirement. The following thresholds shall act as triggers for an analysis by the Committee of whether such Termination of Service is a Qualifying Retirement: (A) Termination of Service solely due to retirement following the... attainment of age sixty-two (62) or permitted early retirement as determined by the Committee; (B) Termination of Service solely due to retirement following the attainment of age fifty-five (55) and ten (10) years of employment with the Company or any Subsidiary; or (C) Termination of Service solely due to retirement following the attainment of age fifty (50) and fifteen (15) years of employment with the Company or any Subsidiary, or (D) Termination of Service for other reasons as determined by the Committee. Committee; provided that under no circumstance will a Termination of Service prior to the six month anniversary of the Date of Grant be considered a Qualifying Retirement. View More