Common use of Disability of Optionee Clause in Contracts

Disability of Optionee. Notwithstanding the provisions of Section 8 above, in the event of termination of Optionee’s status as an employee as a result of his or her Disability, Optionee may, but only within one year from the date of termination of employment (but in no event later than the date of expiration of the term of this Option as set forth in Section 3 above), exercise this Option to the extent Optionee was entitled to exercise it at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise such Option (which Optionee was entitled to exercise) within the time specified herein, the Option shall terminate.

Appears in 3 contracts

Samples: Incentive Stock Option Agreement (Granite City Food & Brewery Ltd.), Non Qualified Stock Option Agreement (Granite City Food & Brewery Ltd.), Equity Incentive Plan (Granite City Food & Brewery LTD)

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Disability of Optionee. Notwithstanding the provisions of Section 8 9(b) above, in the event of termination of an Optionee’s status 's Consulting relationship or Continuous Status as an employee Employee as a result of his or her Disabilitydisability (as defined in the Code), Optionee may, but only within one year Thirty-Six (36) months from the date of such termination of employment (but in no event later than the expiration date of expiration of the term of this such Option as set forth in Section 3 abovethe Option Agreement), exercise this the Option to the extent Optionee was otherwise entitled to exercise it at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise such Option (which Optionee was to the extent so entitled to exercise) within the time specified hereinspecified, the Option shall terminate.

Appears in 3 contracts

Samples: Employment Agreement (Targeted Medical Pharma, Inc.), Employment Agreement (Targeted Medical Pharma, Inc.), Employment Agreement (Targeted Medical Pharma, Inc.)

Disability of Optionee. Notwithstanding the provisions of Section 8 6 above, in the event of termination of the Optionee’s status Continuous Status as an employee Employee or Consultant as a result of his or her Total Disability, the Optionee may, but only within one year twelve (12) months from the date of termination of employment (but in no event later than the date of expiration of the term of this Option as set forth in Section 3 above10 below), exercise this the Option to the extent Optionee was otherwise so entitled to exercise it at the date of such termination. To the extent that the Optionee was not entitled to exercise the Option at the date of termination, or if the Optionee does not exercise such Option (which Optionee was entitled to exercisethe extent otherwise so entitled) within the time specified hereinin this Agreement, the Option shall terminate.

Appears in 2 contracts

Samples: Option Agreement (Yahoo Inc), Stock Option Agreement (Yahoo Inc)

Disability of Optionee. Notwithstanding the provisions of Section 8 7 above, in the event of termination of Optionee’s status 's Continuous Status as an employee a Director as a result of his or her Disabilitytotal and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee he/she may, but only within one year three (3) months from the date of such termination of employment (but in no event later than the date of expiration of the term of this Option as set forth in Section 3 above11 below), exercise this his Option to the extent Optionee he/she was entitled to exercise it at the date of such termination. To the extent that Optionee he/she was not entitled to exercise the Option at the date of termination, or if Optionee he/she does not exercise such Option (which Optionee he/she was entitled to exercise) within the time specified herein, the Option shall terminate.

Appears in 2 contracts

Samples: Stock Option Agreement (Altera Corp), Option Plan Stock Option Agreement (Altera Corp)

Disability of Optionee. Notwithstanding the provisions of Section 8 above, in the event of termination of Optionee’s status as an employee as a result of his or her Disability, Optionee he may, but only within one year from the date of termination of employment (but in no event later than the date of expiration of the term of this Option as set forth in Section 3 above), exercise this his Option to the extent Optionee he was entitled to exercise it at the date of such termination. To the extent that Optionee he was not entitled to exercise the Option at the date of termination, or if Optionee he does not exercise such Option (which Optionee he was entitled to exercise) within the time specified herein, the Option shall terminate.

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (Granite City Food & Brewery LTD), Non Qualified Stock Option Agreement (Granite City Food & Brewery LTD)

Disability of Optionee. Notwithstanding the provisions of Section 8 7 above, in the event of termination of Optionee’s status as an employee as a result of his Optionee’s partial or her Disabilitytotal disability, Optionee may, but only within one year three months from the date of termination of employment (but in no event later than the date of expiration of the term of this Option as set forth in Section 3 above11 below), exercise this his Option to the extent Optionee was entitled to exercise it at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise such Option (which Optionee was entitled to exercise) within the time specified herein, the Option shall terminate.

Appears in 2 contracts

Samples: Stock Option and Incentive Plan (Hf Financial Corp), Option and Incentive Plan (Hf Financial Corp)

Disability of Optionee. Notwithstanding the provisions of Section 8 5 above, in ----------------------- if Optionee is unable to continue the event of termination of Optionee’s status as an employee 's employment or consulting relationship with the Company as a result of his or her Disabilitythe Optionee's permanent and total disability (as defined in Section 22(e)(3) of the Code), the Optionee may, but only within one year twelve (12) months from the date of termination of employment (but in no event later than the date of expiration of the term of this Option as set forth in Section 3 above)or consulting relationship, exercise this Option to the extent the Optionee was entitled to exercise it at the date of such termination. To the extent that the Optionee was not entitled to exercise the this Option at the date of termination, or if the Optionee does not exercise such Option (which the Optionee was entitled to exercise) within the time specified herein, the this Option shall terminate.

Appears in 2 contracts

Samples: 1992 Stock Plan Nonstatutory Stock Option Agreement (Vidamed Inc), 1992 Stock Plan Incentive Stock Option Agreement (Vidamed Inc)

Disability of Optionee. Notwithstanding the provisions of Section 8 Paragraph E. above, in the event of termination of an Optionee’s status as an employee 's employment with the Company or any subsidiary thereof as a result of his or her Total and Permanent Disability, Optionee may, but only within one year six (6) months from the date of such termination of employment (but and in no event later than the expiration date of expiration of the term of this such Option as set forth in Section 3 aboveParagraph I. below), exercise this the Option to the extent Optionee was otherwise entitled to exercise it at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise such Option (which Optionee was to the extent so entitled to exercise) 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: Form of Option Agreement (Autobytel Inc)

Disability of Optionee. Notwithstanding the provisions of Section 8 6 above, in the event of termination of Optionee’s status 's Continuous Status as an employee Employee as a result of his or her Disabilitytotal and permanent disability (as defined in Section 22(e)(3) of the Internal Revenue Code), Optionee may, but only within one year six (6) months from the date of termination of employment (but in no event later than the date of expiration of the term of this Option as set forth in Section 3 above10 below), exercise this his or her Option to the extent Optionee was otherwise so entitled to exercise it at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, termination or if Optionee does not exercise such Option (which Optionee was entitled to exercisethe extent otherwise so entitled) within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Cisco Systems Inc)

Disability of Optionee. Notwithstanding the provisions of Section 8 9 above, in if the event of termination of Optionee’s status as an employee Optionee is unable to continue his or her employment or consulting relationship with the Company as a result of his or her Disabilitypermanent and total disability (as defined in Section 22(e)(3)of the Code), the Optionee may, but only within one year twelve (12) months from the date of termination of the employment or consulting relationship (but and in no event later than the date of expiration of the term of this the Option as set forth in Section 3 above13 below), exercise this the Option to the extent the Optionee was entitled to exercise it at the date of such termination. To the extent that the Optionee was not entitled to exercise the Option at the date of termination, or if the Optionee does not exercise such the Option (which the Optionee was entitled to exercise) within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Nonstatutory Stock Option Agreement (Trident Microsystems Inc)

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Disability of Optionee. Notwithstanding the provisions of Section 8 ---------------------- above, in the event of termination of Optionee’s 's status as an employee Employee, Director or Consultant as a result of his or her Disabilitydisability, Optionee may, but only within one year six (6) months from the date of termination of employment (but in no event later than the date of expiration of the term of this the Option as set forth in Section 3 aboveherein), exercise this Option Optionee's Options to the extent Optionee was otherwise so entitled to exercise it at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise such Option (which Optionee was to the extent so entitled to exercise) within the time specified herein, the Options shall terminate, and the Shares covered by such Option shall terminaterevert to the Plan.

Appears in 1 contract

Samples: Stock Option Agreement (Digitalwork Com Inc)

Disability of Optionee. Notwithstanding the provisions of Section 8 7 above, in the event of termination of Optionee’s status as an employee Employee or Consultant of the Company as a result of his or her DisabilityOptionee’s permanent and total disability (as defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended), Optionee may, but only within one year twelve (12) months from the date of termination of Optionee’s employment or consulting relationship with the Company (but in no event later than the date of expiration of the term of this the Option as set forth in Section 3 above12 below), exercise this the Option to the extent Optionee was entitled to exercise it at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise such the Option (which Optionee was entitled to exercise) within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Agreement (Collagenex Pharmaceuticals Inc)

Disability of Optionee. Notwithstanding the provisions of Section 8 above, in the event of termination of Optionee’s status as an employee as a result of his or her Disability, Optionee he may, but only within one year from the date of termination of employment (but in no event later than the date of expiration of the term of this Option as set forth in Section 3 above), exercise this Option to the extent Optionee he was entitled to exercise it at the date of such termination. To the extent that Optionee he was not entitled to exercise the Option at the date of termination, or if Optionee he does not exercise such Option (which Optionee he was entitled to exercise) within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Equity Incentive Plan (Granite City Food & Brewery LTD)

Disability of Optionee. Notwithstanding the provisions of Section 8 above, in In the event of termination of Optionee’s status as an employee 's engagement with the Company as a result of his or her DisabilityOptionee's total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may, but only within one year twelve (12) months from the date of such termination of employment (but in no event later than the date of expiration of the term of this Option as set forth in Section 3 above), 3.5) exercise this Option to the extent Optionee was entitled to exercise it at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise such Option (which Optionee was entitled to exercise) within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Nonstatutory Stock Option Agreement (Star Telecommunications Inc)

Disability of Optionee. Notwithstanding the provisions of Section 8 3 above, in the event of termination of Optionee’s status Optionee is unable to continue service as an employee a Director with the Company as a result of his or her DisabilityOptionee's total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may, but only within one year seven months from the date of termination of employment (but in no event later than the date of expiration of the term of this Option as set forth in Section 3 above)termination, exercise this Option only to the extent Optionee that he or she was entitled to exercise it this Option at the date of such termination, subject to the condition that the Option shall not be exercisable after the expiration of its term. To the extent that Optionee was not entitled to exercise the this Option at the date of such termination, or if Optionee does not exercise such this Option (which Optionee he or she was entitled to exercise) within the time specified hereinterm of this Option, the this Option shall terminate.

Appears in 1 contract

Samples: Non Incentive Stock Option Agreement (Integ Incorp)

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