Common use of Disability of Optionee Clause in Contracts

Disability of Optionee. Notwithstanding the provisions of Section 6 above, in the event of termination of Optionee's status as an employee or a member of the Board of Directors as a result of total and permanent disability (as defined in Section 22(e)(3) of the Internal Revenue Code), Optionee may, but only within twelve (12) months from the date of separation from the Board of Directors or if separation is due to disability which is not total and permanent, then within six (6) months of such separation (but in no event later than the date of expiration of the term of this Option as set forth in Section 10 below), exercise the Option to the extent otherwise so entitled 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 (to the extent otherwise so entitled) within the time specified herein, the Option shall terminate.

Appears in 6 contracts

Samples: Communication Intelligence Corporation (Communication Intelligence Corp), Communication Intelligence Corporation (Communication Intelligence Corp), Communication Intelligence Corporation (Communication Intelligence Corp)

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Disability of Optionee. Notwithstanding the provisions of Section 6 ---------------------- above, in the event of termination of an Optionee's status Continuous Status as an employee Employee or a member of the Board of Directors Consultant as a result of total and permanent disability (as defined in Section 22(e)(3) of the Internal Revenue Code)his or her Disability, Optionee may, but only within twelve (12) months from the date of separation from the Board of Directors or if separation is due to disability which is not total such termination (and permanent, then within six (6) months of such separation (but in no event later than the expiration date of expiration of the term of this such Option as set forth in Section 10 below), the Notice of Grant) exercise the Option to the extent otherwise so entitled to exercise it at the date of such termination. To the extent that Optionee was is not entitled to exercise the Option at the date of termination, or if Optionee does not exercise such Option (to the extent otherwise so entitled) entitled 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: Agreement and Plan of Reorganization (Usweb Corp), Option Plan Option Agreement (Loislaw Com Inc), Loislaw Com Inc

Disability of Optionee. (a) Notwithstanding the provisions of Section 6 5 above, in the event of termination of Optionee's status Continuous Status as an employee Employee or a member of the Board of Directors Consultant as a result of his or her total and permanent disability (as defined in Section 22(e)(3) of the Internal Revenue Code), Optionee may, but only within twelve (12) months from the date of separation from the Board of Directors or if separation is due to disability which is not total and permanent, then within six (6) months of such separation Termination Date (but in no event later than the date of expiration of the term of this Option as Expiration Date set forth in the Notice of Stock Option Grant and in Section 10 9 below), exercise the this Option to the extent otherwise so he or she was entitled to exercise it at the date of such terminationTermination Date. To the extent that Optionee was not entitled to exercise the Option at on the date of terminationTermination Date, or if Optionee does not exercise such Option (to the extent otherwise so entitled) entitled within the time specified hereinin this Section 6(a), the Option shall terminate.

Appears in 3 contracts

Samples: Notice and Restricted Stock Purchase Agreement (Quest Software Inc), Stock Option Agreement (Egroups Inc), Cisco Systems Inc

Disability of Optionee. Notwithstanding the provisions of Section 6 above, in the event of termination of Optionee's status as an employee ’s consulting or a member of the Board of Directors employment relationship or as a result of his total and permanent disability (as defined in Section 22(e)(3) of the Internal Revenue CodeCode or any successor provision), Optionee may, but only within twelve (12) months from the date of separation from the Board termination of Directors employment or if separation is due to disability which is not total and permanent, then within six (6) months of such separation consulting relationship (but in no event later than the date of expiration of the term of this Option as set forth in Section 10 below), exercise the this Option to the extent otherwise so 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 the extent otherwise so entitledexercise) within the time specified herein, the Option shall terminate.

Appears in 3 contracts

Samples: Employment Agreement, Vice President Employment Agreement (Globus Medical Inc), Vice President Employment Agreement (Globus Medical Inc)

Disability of Optionee. (a) Notwithstanding the provisions of Section 6 5 above, in the event of termination of Optionee's status Continuous Status as an employee Employee or a member of the Board of Directors Consultant as a result of his or her total and permanent disability (as defined in Section 22(e)(3) of the Internal Revenue Code), Optionee may, but only within twelve (12) months from the date of separation from the Board of Directors or if separation is due to disability which is not total and permanent, then within six (6) months of such separation Termination Date (but in no event later than the date of expiration of the term of this Option as set forth in the Notice of Stock Option Grant and in Section 10 9 below), exercise the this Option to the extent otherwise so Optionee was entitled at the date to exercise it as of such terminationTermination Date. To the extent that Optionee was not entitled to exercise the Option at as of the date of terminationTermination Date, or if Optionee does not exercise such the Option (to the extent otherwise so entitled) within the time specified hereinin this Section 6(a), the Option shall terminate.

Appears in 2 contracts

Samples: 1998 Stock Option Plan (Media Metrix Inc), Stock Option Plan (Media Metrix Inc)

Disability of Optionee. Notwithstanding the provisions of Section 6 above, in the event of termination of the Optionee's ’s continuous status as an employee a Nonemployee Director of the Company, its Parent, or a member of the Board of Directors Subsidiary as a result of total and permanent disability (as defined in Section 22(e)(3) of Disability, the Internal Revenue Code), Optionee may, but only within twelve (12) months from the date of separation from the Board of Directors or if separation is Termination Date due to disability which is not total and permanent, then within six (6) months of such separation Disability (but in no event later than the date of expiration of the term of this Option as set forth in Section 10 below), exercise the Option to the extent otherwise so entitled at the date of such terminationTermination Date. To the extent that the Optionee was not entitled to exercise the Option at the date of terminationTermination Date, or if the Optionee does not exercise such Option (to the extent otherwise so entitled) within the time specified hereinin this Agreement, the Option shall terminate.

Appears in 1 contract

Samples: Vaughan Foods, Inc.

Disability of Optionee. (a) Notwithstanding the provisions of Section 6 above, in the event of termination of Optionee's status as an employee or a member of the Board of Directors Continuous Status as a result of his or her total and permanent disability (as defined in within the meaning of Section 22(e)(3) of the Internal Revenue Code), Optionee may, but only within twelve (12) months from the date of separation from the Board of Directors or if separation is due to disability which is not total and permanent, then within six (6) months of such separation termination (but in no event later than the date of expiration Expiration Date of the term Term of this such Option as set forth in Section 10 below), exercise the Option to the extent 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 such date of termination, or if Optionee does not exercise such Option (to the extent otherwise so entitled) entitled within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Agreement (Connetics Corp)

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Disability of Optionee. Notwithstanding the provisions of Section 6 5 above, in the event of termination of Optionee's status Continuous Status as an employee Employee or a member Consultant of the Board of Directors Company as a result of total and permanent disability (as defined in Section 22(e)(3) of the Internal Revenue Code), Optionee may, but only within twelve (12) months from the date of separation from the Board termination of Directors or if separation is due to disability which is not total and permanent, then within six (6) months of such separation employment (but in no event later than the date of expiration of the term of this Option as set forth in Section 10 9 below), exercise the Option to the extent otherwise so entitled 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 (to the extent otherwise so entitled) within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Amendment Agreement (Earthshell Corp)

Disability of Optionee. (i) Notwithstanding the provisions of Section 6 7 above, in the event of termination of Optionee's status Continuous Status as an employee or a member of the Board of Directors Employee as a result of his or her total and permanent disability (as defined in Section 22(e)(3) of the Internal Revenue Code), Optionee may, but only within twelve (12) months from the date of separation from the Board termination of Directors or if separation is due to disability which is not total and permanent, then within six (6) months of such separation employment (but in no event later than the date of expiration of the term of this Option as set forth in Section 10 11 below), exercise the this Option to the extent otherwise so he or she 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 he or she was entitled to the extent otherwise so entitledexercise) within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Master Agreement (Sonoma Systems)

Disability of Optionee. (a) Notwithstanding the provisions of Section 6 5 above, in the event of termination of Optionee's status ’s Continuous Status as an employee Employee or a member of the Board of Directors Consultant as a result of his or her total and permanent disability (as defined in Section 22(e)(3) of the Internal Revenue Code), Optionee may, but only within twelve (12) months from the date of separation from the Board of Directors or if separation is due to disability which is not total and permanent, then within six (6) months of such separation Termination Date (but in no event later than the date of expiration of the term of this Option as Expiration Date set forth in the Notice of Stock Option Grant and in Section 10 9 below), exercise the this Option to the extent otherwise so he or she was entitled to exercise it at the date of such terminationTermination Date. To the extent that Optionee was not entitled to exercise the Option at on the date of terminationTermination Date, or if Optionee does not exercise such Option (to the extent otherwise so entitled) entitled within the time specified hereinin this Section 6(a), the Option shall terminate.

Appears in 1 contract

Samples: Form of Stock Option Agreement (Nexx Systems Inc)

Disability of Optionee. Notwithstanding the provisions of ---------------------- Section 6 above, in the event of termination of Optionee's status Continuous Status as an employee Employee or a member of the Board of Directors Consultant as a result of total and permanent disability (as defined in Section 22(e)(3) of the Internal Revenue Code), Optionee may, but only within twelve six (126) months from the date of separation from the Board termination of Directors or if separation is due to disability which is not total and permanent, then within six (6) months of such separation employment (but in no event later than the date of expiration of the term of this Option as set forth in Section 10 below), exercise the Option to the extent otherwise so entitled 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 (to the extent otherwise so entitled) within the time specified hereinin this Agreement, the Option shall terminate.

Appears in 1 contract

Samples: Brio Software (Brio Software Inc)

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