Retirement.
Means the The retirement from active employment with the Company of an employee or
officer officer, but only if such person meets all of the requirements contained in clause (i) or contained in clause (ii) below: (i) he has a minimum combined total of years of service and age equal to eighty (80); he is age sixty-two (62) or older; and he provides six (6)
months' months prior written notice to the Company of the retirement; or (ii) he has a minimum of five (5) years of service; he is age
... sixty-five (65) or older and he provides six (6) months' months prior written notice to the Company of the retirement. "Years of Service" shall be defined as follows: (i) for participants in the Valley National Bank Benefit Equalization Plan (the "BEP"), the same way as it the term "Years of Credited Service" is defined under the Company's pension plan, BEP and (ii) for all other employees or officers, the same way "years of Credited Service" is defined under the Valley National Bank Pension Plan, provided that for this the purpose of the Valley National Bank Pension Plan years of service will mean only employment by the Company, and will not include employment by any company or entity acquired by the Company for the period prior to its acquisition by the Company. An employee or officer who retires but fails to meet such requirements shall not be deemed to be within the definition of "Retirement" for any purpose under this Plan or any Award or Option granted thereunder; provided, however, after a Change in Control transaction, no prior notice of a Retirement shall be required for purposes of this Plan only and any Optionee (as defined in the Plan) who meets all of the other conditions contained in clause (i) or in clause (ii), but is terminated without Cause, shall be deemed to meet all the conditions for Retirement for purposes of the Plan only and shall be deemed to have terminated employment due to Retirement for purposes of this Plan only.
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Retirement.
Means the retirement from active employment
with or service of an employee, officer, or member of the board of directors of the Company
of an employee or
officer a Subsidiary, but only if such person
then meets
all of the requirements contained in clause
(i), (ii) or (iii) below (unless otherwise provided in an applicable Agreement, or unless otherwise determined by the Committee): (i)
or contained in clause (ii) below: (i) he the person has a minimum combined total of years of service and age
... equal to eighty (80); he is age sixty-two (62) or older; and he provides six (6) months' three (3) months prior written notice to the Company of the retirement; or (ii) he the person has a minimum of five (5) years of service; he is age sixty-five (65) or older and he provides six (6) months' three (3) months prior written notice to the Company of the retirement; or (iii) the person satisfies the conditions for retirement under a retirement plan of the Company or a Subsidiary (which need not be a tax qualified plan) in which such person was a participant immediately before retirement. "Years of Service" shall be defined the same way as it is under the Company's pension plan, provided that for this purpose years of service service" will mean only employment by the Company, Company or a Subsidiary, and will not include employment by any company or entity acquired by the Company or a Subsidiary for the period prior to its acquisition by the Company. Company (unless otherwise determined by the Committee). An employee or officer who retires but fails to meet such requirements shall not be deemed to be within the definition of "Retirement" for any purpose under this Plan or any Award or Option granted thereunder; provided, however, after a Change in Control transaction, no prior notice of a Retirement shall be required for purposes of this Plan only and any Optionee (as defined in the Plan) who meets all of the other conditions contained in clause (i) (i), (ii) or in clause (ii), (iii), but is terminated without Cause, shall be deemed to meet all the conditions for Retirement for purposes of the Plan only and shall be deemed to have terminated employment due to Retirement for purposes of this Plan only. Consultants and advisors shall not qualify for Retirement.
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Retirement.
Means the retirement from active employment
with or service of an employee, officer, or member of the board of directors of the Company
of an employee or
officer a Subsidiary, but only if such person
then meets
all of the requirements contained in clause
(i), (ii) or (iii) below (unless otherwise provided in an applicable Agreement, or unless otherwise determined by the Committee): (i)
or contained in clause (ii) below: (i) he the person has a minimum combined total of years of service and age
... equal to eighty (80); he is age sixty-two (62) or older; and he provides six (6) months' three (3) months prior written notice to the Company of the retirement; or (ii) he the person has a minimum of five (5) years of service; he is age sixty-five (65) or older and he provides six (6) months' three (3) months prior written notice to the Company of the retirement; or (iii) the person satisfies the conditions for retirement under a retirement plan of the Company or a Subsidiary (which need not be a tax qualified plan) in which such person was a participant immediately before retirement. "Years of Service" shall be defined the same way as it is under the Company's pension plan, provided that for this purpose years of service service" will mean only employment by the Company, Company or a Subsidiary, and will not include employment by any company or entity acquired by the Company or a Subsidiary for the period prior to its acquisition by the Company. Company (unless otherwise determined by the Committee). An employee or officer who retires but fails to meet such requirements shall not be deemed to be within the definition of "Retirement" for any purpose under this Plan or any Award or Option granted thereunder; provided, however, after a Change in Control transaction, no prior notice of a Retirement shall be required for purposes of this Plan only and any Optionee (as defined in the Plan) who meets all of the other conditions contained in clause (i) (i), (ii) or in clause (ii), (iii), but is terminated without Cause, shall be deemed to meet all the conditions for Retirement for purposes of the Plan only and shall be deemed to have terminated employment due to Retirement for purposes of this Plan only. Consultants and advisors shall not qualify for Retirement.
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Retirement.
Means means the retirement from active employment
with by the Company of an employee or officer but only if such person meets all of the
requirements contained in clause (i) or contained in clause (ii) below: following requirements: (i) he has a minimum combined total of years of service and age equal to eighty
(80); (80), (ii) he is age sixty-two (62) or
older; older, and
(iii) he provides six (6)
months' prior written notice to the Company of the retirement; or (ii) he has a minimum of five... (5) years of service; he is age sixty-five (65) or older and he provides six (6) months' months prior written notice to the Company of the retirement. "Years of Service" shall be defined the same way as it is under the Company's pension plan, provided that for this purpose years of service will mean only employment by the Company, and will not include employment by any company or entity acquired by the Company for the period prior to its acquisition by the Company. An employee or officer who retires but fails to meet such requirements conditions shall not be deemed to be within the definition of "Retirement" for any purpose under this Plan or any Award or Option granted thereunder; provided, however, after a Change in Control transaction, no prior notice of a Retirement shall be required for purposes of this Plan only and any Optionee (as defined in the Plan) who meets all of the other conditions contained in clause (i) or in clause (ii), but is terminated without Cause, shall be deemed to meet all the conditions for Retirement for purposes of the Plan only and shall be deemed to have terminated employment due to Retirement for purposes of this Plan only. thereunder.
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Retirement.
Means the retirement from active employment
with by the Company of an employee or officer but only if such person meets all of the
requirements contained in clause (i) or contained in clause (ii) below: following requirements: (i) he has a minimum combined total of years of service and age equal to eighty
(80); (80), (ii) he is age sixty-two (62) or
older; older, and
(iii) he provides six (6)
months' prior written notice to the Company of the retirement; or (ii) he has a minimum of five (5)... years of service; he is age sixty-five (65) or older and he provides six (6) months' months prior written notice to the Company of the retirement. "Years of Service" shall be defined the same way as it is under the Company's Valley's pension plan, provided that for this purpose years of service will mean only employment by the Company, and will not include employment by any company or entity acquired by the Company for the period prior to its acquisition by the Company. plan. An employee or officer who retires but fails to meet such requirements conditions shall not be deemed to be within the definition of "Retirement" for any purpose under this Plan or any Award or Option granted thereunder; provided, however, after a Change in Control transaction, no prior notice of a Retirement shall be required for purposes of this Plan only and any Optionee (as defined in the Plan) who meets all the conditions of the other conditions contained in clause clauses (i) or in clause and (ii), but is terminated without Cause, shall 3 be deemed to meet all the conditions for Retirement for purposes of the Plan only and shall be deemed to have terminated employment due to Retirement for purposes of this Plan only.
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Retirement.
Means means the retirement from active employment
with by the Company of an employee or officer but only if such person meets all of the
requirements contained in clause (i) or contained in clause (ii) below: following requirements: (i) he has a minimum combined total of years of service and age equal to eighty
(80); (80), (ii) he is age sixty-two (62) or
older; older, and
(iii) he provides six (6)
months' prior written notice to the Company of the retirement; or (ii) he has a minimum of five... (5) years of service; he is age sixty-five (65) or older and he provides six (6) months' months prior written notice to the Company of the retirement. "Years of Service" service" shall be defined the same way as it is under the Company's Valley's pension plan, provided that for this purpose years of service will mean only employment by the Company, and will not include employment by any company or entity acquired by the Company for the period prior to its acquisition by the Company. plan. An employee or officer who retires but fails to meet such requirements conditions shall not be deemed to be within the definition of "Retirement" for any purpose under this Plan or any Award or Option granted thereunder; provided, however, after a Change in Control transaction, no prior notice of a Retirement shall be required for purposes of this Plan only and any Optionee (as defined in the Plan) who meets all the conditions of the other conditions contained in clause clauses (i) or in clause and (ii), but is terminated without Cause, shall be deemed to meet all the conditions for Retirement for purposes of the Plan only and shall be deemed to have terminated employment due to Retirement for purposes of this Plan only.
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