Common use of Disability of Optionee Clause in Contracts

Disability of Optionee. If an Optionee ceases to be a Service Provider as a result of the Optionee’s Disability, the Optionee may exercise his or her Option within such period of time as is specified in the Option Agreement to the extent the Option is vested and exercisable on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee’s termination. If, on the date of termination, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee 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 the Plan.

Appears in 9 contracts

Samples: Stand Alone Stock Option Agreement (Hewlett Packard Co), Stand Alone Stock Option Agreement (Hewlett Packard Co), Corporation Stand Alone Stock Option Agreement (3com Corp)

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Disability of Optionee. If an Optionee ceases to be a Service Provider as a result of the Optionee’s 's Disability, the Optionee may exercise his or her Option within such period of time as is specified in the Option Agreement Agreement, to the extent the Option is vested and exercisable on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee’s 's termination. If, on the date of termination, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee 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 the Plan.

Appears in 3 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement, Stock Option Agreement (Novellus Systems Inc)

Disability of Optionee. If an Optionee ceases to be a Service ---------------------- Provider as a result of the Optionee’s 's Disability, the Optionee may exercise his or her Option within such period of time as is specified in the Option Agreement Notice of Grant to the extent the Option is vested and exercisable on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Option AgreementNotice of Grant). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee’s termination. If, on the date of termination, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the PlanCompany. If, after termination, the Optionee 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 the PlanCompany.

Appears in 2 contracts

Samples: Stock Option Agreement (Pc Tel Inc), Stock Option Agreement (Pc Tel Inc)

Disability of Optionee. If an Optionee ceases to be a Service Provider as a result of the Optionee’s Disability, the Optionee may exercise his or her Option within such period of time as is specified in the Option Agreement to the extent the Option is vested and exercisable on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve six (126) months following the Optionee’s termination. If, on the date of termination, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee 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 the Plan.

Appears in 2 contracts

Samples: Redback Networks Inc, Redback Networks Inc

Disability of Optionee. If an Optionee ceases to be a Service Provider as a result of the Optionee’s Disability, the Optionee may exercise his or her Option within such period of time as is specified in the Option Agreement to the extent the Option is vested and exercisable on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee’s termination. If, on the date of termination, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee 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 the Plan.

Appears in 2 contracts

Samples: Medtronic Inc, Medtronic Inc

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Disability of Optionee. If an Optionee ceases to be a Service Provider as a result of the Optionee’s Disability's total and permanent disability, as defined in Section 22(e)(3) of the Code, the Optionee may exercise his or her Option within such period of time as is specified in the Option Agreement to the extent the Option is vested and exercisable on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve six (126) months following the Optionee’s 's termination. If, on the date of termination, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee 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 the Plan.

Appears in 1 contract

Samples: Stock Option Agreement (Cadence Design Systems Inc)

Disability of Optionee. If an Optionee ceases to be a Service ---------------------- Provider as a result of the Optionee’s 's Disability, the Optionee may exercise his or her Option within such period of time as is specified in the Option Agreement Agreement, to the extent the Option is vested and exercisable on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee’s 's termination. If, on the date of termination, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee 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 the Plan.

Appears in 1 contract

Samples: Stock Option Agreement (Efficient Networks Inc)

Disability of Optionee. If The following provisions of this subsection (c) apply only to Optionees who are Employees on the date of an Optionee ceases to be a Service Provider Option grant. In the event that an Optionee's Continuous Status as an Employee terminates as a result of the Optionee’s 's Disability, the Optionee may exercise his or her Option within such period of time as is specified in the Option Agreement at any time within twelve (12) months from the date of such termination, but only to the extent that the Option is vested and exercisable on Optionee was entitled to exercise it at the date of such termination (but in no event later than the expiration of the term of such Option as set forth in the Option AgreementNotice of Grant). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee’s termination. If, on at the date of termination, the Optionee is not vested as entitled to his or her exercise the entire Option, the Shares covered by the unvested unexercisable portion of the Option shall revert to the Plan. If, after termination, the Optionee does not exercise his or her the Option within the time specified herein, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (First Horizon Pharmaceutical Corp)

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