Termination of Service Due to Retirement. If an Awardee's service on the Board terminates by reason of the Awardee reaching the mandatory retirement age for members of the Board ("Retirement"), the restrictions and risk of forfeiture with respect to the Restricted Stock which have not expired shall immediately lapse and all shares of the Restricted Stock shall be deemed fully vested and nonforfeitable.
Appears in 5 contracts
Sources: Restricted Stock Award Agreement (Waddell & Reed Financial Inc), Restricted Stock Award Agreement (Waddell & Reed Financial Inc), Restricted Stock Award Agreement (Waddell & Reed Financial Inc)
Termination of Service Due to Retirement. If an Awardee's ’s service on the Board terminates by reason of the Awardee reaching the mandatory retirement age for members of the Board ("“Retirement"”), the restrictions and risk of forfeiture with respect to the Restricted Stock which have not expired shall immediately lapse and all shares of the Restricted Stock shall be deemed fully vested and nonforfeitable.
Appears in 2 contracts
Sources: Restricted Stock Award Agreement (Waddell & Reed Financial Inc), Restricted Stock Award Agreement (Waddell & Reed Financial Inc)