Mandatory Retirement Date definition

Mandatory Retirement Date means the compulsory retirement date, if any, established by the Company for those executives of the Company who, by reason of their positions and the size of their nonforfeitable annual retirement benefits under the Company’s pension, profit-sharing, and deferred compensation plans, are exempt from, the provisions of the Age Discrimination in Employment Act, 29 U.S.C. Sections 621, et seq., which date shall not in any event be earlier for any executive than the last day of the month in which such Executive reaches age 65.
View Source
Mandatory Retirement Date means the last day of the Plan Year in which a participant has reached the age of 72. Such Mandatory Retirement Date may be extended upon the majority vote of the Boards of Directors of the AIM Funds.
View Source
Mandatory Retirement Date means the date of the first meeting of stockholders of USB at which directors are elected, following the date on which the Director reaches the mandatory retirement age set forth in USB’s bylaws, which is currently age seventy-five (75). Section 2.1.1 of the Agreement is hereby amended by deleting the second sentence thereof in its entirety and replacing it with the following:
View Source

Examples of Mandatory Retirement Date in a sentence

  • If such a notice is given, the Employment Period shall end on the day before the second Anniversary Date after the notice is given (or, if earlier, the Mandatory Retirement Date).

  • If the Board does not approve an extension of the Agreement for a given year, or if the Executive objects to such an extension, the Employment Period will end automatically, without the requirement of any notice or other action, on the day before the second Anniversary Date after the determination not to approve the extension (or, if earlier, the Mandatory Retirement Date).

  • Prorated Vesting for Officers who Terminate Due to Mandatory Retirement at Age 65: As of your Mandatory Retirement Date, a fractional portion of your Granted RSUs (and related Dividend Equivalent RSUs) shall vest.

  • However, if the Change in Control Date occurs within the 36-month period preceding the Executive’s Mandatory Retirement Date, the payment shall be reduced to an amount equal to the product of (i) the amount described in the preceding sentence and (ii) a fraction, the numerator of which is the number of months remaining until the Executive’s Mandatory Retirement Date (including for this purpose the month in which the Change in Control Date occurs), and the denominator of which is 36.

  • RSUs that vest as a result of your Mandatory Retirement Date shall be converted to AEP Common Stock and delivered to you as of your Mandatory Retirement Date in accordance with the section of this award agreement entitled Delivery of Shares of Common Stock, below.


More Definitions of Mandatory Retirement Date

Mandatory Retirement Date means the date of your Termination, if all of the following conditions are satisfied: (i) you are an officer of AEP subject to mandatory retirement at age 65, and (ii) your employment with AEP Terminates on the date you attain age 65 or such later date specified by resolution of the Board of Directors of AEP (or such person or committee to whom the Board delegates the authority to make such determinations) adopted prior to the date you attain age 65.
View Source
Mandatory Retirement Date means the first day of the month following the month in which the Executive attains age 70, or such later date as may be determined by the Board.
View Source
Mandatory Retirement Date means the last day of the Plan Year in which a Director has reached the age of 72.
View Source
Mandatory Retirement Date means, in relation to an MPF Member, the date of his 65th birthday.
View Source
Mandatory Retirement Date means the first day of the calendar month which next follows the date of notification to the Board of Administration by the General Manager of the Department of Water and Power that an employee is not physically or mentally fit to continue his or her duties as an employee of the Department as provided in Section II E of the Plan.
View Source
Mandatory Retirement Date means the last day of the month in which a judge has attained 70 years of age.
View Source
Mandatory Retirement Date shall have the meaning set forth in the Retirement Plan. Notwithstanding Section 5 of this Agreement, if a Participant who retires on his/her Mandatory Retirement Date in accordance with the Retirement Plan is not fully vested on such date, the portion of the Option that has not become exercisable shall not be cancelled and shall become vested and exercisable in accordance with the schedule set forth in Section 5; provided that any unvested portion as of the first day of the 34th month following the Participant's Mandatory Retirement Date shall become fully vested and exercisable as of such date. In the event the Participant dies after his/her Mandatory Retirement Date and prior to the first day of the 34th month following such date, any portion of such Option that has not vested as of the date of the Participant's death shall terminate and any portion that was vested and exercisable as of the date of death may be exercised by the Participant's estate or Permitted Transferee for a period of 180 days following the date of the Participant's death, but not beyond the 10th anniversary of the Grant Date.
View Source