Disability of a Participant Sample Clauses

Disability of a Participant. XX (a) A Participant's becoming Disabled shall be a Qualifying Distribution Event and the Deferred Compensation Account shall be paid by the Employer as provided in Section 7.1. (b) A Participant becoming Disabled shall not be a Qualifying Distribution Event.
AutoNDA by SimpleDocs
Disability of a Participant. XX (a) Participants may elect upon initial enrollment to have accounts distributed upon becoming Disabled. (b) Participants may not elect to have accounts distributed upon becoming Disabled.
Disability of a Participant. (a) A Participant becoming Disabled shall not be a Qualifying Distribution Event.
Disability of a Participant. If a Participant ceases to be a Service Provider as a result of the Participant’s Disability, to the extent that the Award is vested on the date of termination, the Participant may exercise his or her Award within twelve (12) months following the Participant’s termination in the case of an Incentive Stock Option, or, in the case of an Award other than an Incentive Stock Option, a greater/lesser period if specified in the Award Agreement or the Plan (but in no event later than the expiration of the term of such Award as set forth in the Award Agreement or the Plan). If, on the date of termination, the Participant is not vested as to his or her entire Award of Restricted Stock or Restricted Stock Units, the Participant shall vest in a pro rata number of the Shares covered by or underlying the unvested portion of the Award, as determined by the Administrator in its sole discretion, based on the amount of time elapsed during the vesting period prior to the date of termination (for an Award subject to time-based vesting) or the attainment of the performance objectives or Performance Goals, as applicable, over the portion of the Performance Period elapsed as of the date of termination (for an Award granted pursuant to Section 10 of the Plan). Any unvested Shares covered by or underlying Restricted Stock or Restricted Stock Units that do not vest pursuant to this Section 11(f) shall revert to the Plan; provided, however, that unvested Shares of Restricted Stock shall not automatically revert to the Plan but shall be subject to the Company’s repurchase obligation as provided in the Award Agreement. If, after a termination due to Disability, the Participant does not exercise his or her Award, as applicable, within the time specified herein, the Award shall terminate, and the Shares covered by such Award shall revert to the Plan. 6. The last section of Section 11 of the Plan is hereby redesignated as Section 11(g). 7. Redesignated Section 11(g) of the Plan is hereby deleted in its entirety and the following is substituted therefor:
Disability of a Participant. In the event a Participant’s Continuous Service terminates as a result of the Participant’s disability, the Participant may exercise his or her Option (to the extent that the Participant was entitled to exercise it as of the date of termination), but only within such period of time ending on the earlier of (i) the date twelve (12) months following such termination (or such longer or shorter period specified in the Option Agreement), or (ii) the expiration of the term of the Option as set forth in the Option Agreement. If, at the date of termination, the Participant is not entitled to exercise his or her entire Option, the shares covered by the un-exercisable portion of the Option shall revert to and again become available for issuance under the Plan. If, after termination, the Participant does not exercise his or her Option within the time specified herein, the Option shall terminate, and the shares covered by such Option shall revert to and again become available for issuance under the Plan.
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!