Death or Disability of Optionee. If Optionee ceases to serve as an Employee or Consultant as a result of death or disability (as defined in Section 22(e)(3) of the Code), this Option shall immediately become fully vested and exercisable. The Option shall remain exercisable for twelve (12) months following the Optionee’s death or disability (but in no event later than the expiration of the term of such Option as set forth in Section 8 below).
Appears in 3 contracts
Samples: Stock Option Agreement (Mips Technologies Inc), Stock Option Agreement (Mips Technologies Inc), Stock Option Agreement (Mips Technologies Inc)
Death or Disability of Optionee. If Optionee ceases to serve as an Employee or Consultant as a result of death or disability (as defined in Section 22(e)(3) of the Code), this Option shall immediately become fully vested and exercisable. The Option shall remain exercisable for twelve (12) months following the Optionee’s 's death or disability (but in no event later than the expiration of the term of such Option as set forth in Section 8 below).
Appears in 3 contracts
Samples: Employee Agreement Stock Option Agreement (Mips Technologies Inc), Director Agreement Stock Option Agreement (Mips Technologies Inc), Officer Agreement Stock Option Agreement (Mips Technologies Inc)
Death or Disability of Optionee. If Optionee ceases to serve as an Employee or Consultant as a result of death or permanent disability (as defined in Section 22(e)(3) of the Code), this Option shall immediately become fully vested and exercisable. The Option shall remain exercisable for twelve (12) months following the Optionee’s death or permanent disability (but in no event later than the expiration of the term of such Option as set forth in Section 8 below).
Appears in 2 contracts
Samples: Stock Option Agreement (Mips Technologies Inc), Stock Option Agreement (Mips Technologies Inc)
Death or Disability of Optionee. If Optionee ceases to serve as an Employee or Consultant as a result of death or permanent disability (as defined in Section 22(e)(3) of the Code), this Option shall immediately become fully vested and exercisable. The Option shall remain exercisable for twelve (12) months following the Optionee’s death or permanent disability (but in no event later than the expiration of the term of such Option as set forth in Section 8 below). 7.
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