Common use of Death or Disability of Participant Clause in Contracts

Death or Disability of Participant. In the event of the death of the Participant while an active employee of the Company, or an Affiliate, or if the Participant shall cease to be an employee of the Company, or an Affiliate, by reason of total disability, as defined in the Company’s Disability Plan, any outstanding Options granted to the Participant shall vest and be immediately exercisable with respect to all or any part of the Options which remain unexercised. In the event of the death of the Participant, the Participant’s legal representative or other person or persons to whom the Participant’s rights under the Options shall pass by the Participant’s will or the laws of descent and distribution, may, within a period of not more than twelve (12) months after the date of death, exercise the Options. In the event of the total disability of the Participant, the Participant (or, in the event of Participant’s death, the Participant’s legal representative) may, within a period of not more than thirty-six (36) months after the date of cessation of employment, exercise the Options. In no event may the Options be exercised more than seven (7) years from the date of grant.

Death or Disability of Participant. In the event of the death of the Participant while an active employee of the Company, or an Affiliate, or if the Participant shall cease to be an employee of the Company, or an Affiliate, by reason of total disability, as defined in the Company’s 's Disability Plan, any outstanding Options granted to the Participant shall vest and be immediately exercisable with respect to all or any part of the Options which remain unexercised. In the event of the death of the Participant, the Participant’s 's legal representative or other person or persons to whom the Participant’s 's rights under the Options shall pass by the Participant’s 's will or the laws of descent and distribution, may, within a period of not more than twelve (12) months after the date of death, exercise the Options. In the event of the total disability of the Participant, the Participant (or, in the event of Participant’s 's death, the Participant’s 's legal representative) may, within a period of not more than thirty-six (36) months after the date of cessation of employment, exercise the Options. In no event may the Options be exercised more than seven (7) years from the date of grant.