Disability of Optionholder. Unless otherwise provided in an Award Agreement, in the event that an Optionholder’s Continuous Service terminates as a result of the Optionholder’s Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination), but only within such period of time ending on the earlier of (a) the date 12 months following such termination or (b) the expiration of the term of the Option as set forth in the Award Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified herein or in the Award Agreement, the Option shall terminate.
Appears in 2 contracts
Samples: Merger Agreement (Monterey Capital Acquisition Corp), Merger Agreement (Fortune Rise Acquisition Corp)
Disability of Optionholder. Unless otherwise provided in an Award Agreement, in In the event that an Optionholder’s 's Continuous Service terminates as a result of the Optionholder’s 's Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination), but only within such period of time ending on the earlier of (ai) the date 12 twelve (12) months following such termination (or such longer or shorter period specified in the Option Agreement) or (bii) the expiration of the term of the Option as set forth in the Award Option Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified herein or in the Award Agreementherein, the Option shall terminate.
Appears in 1 contract
Samples: Agreement and Plan of Merger and Reorganization (Lightspan Inc)
Disability of Optionholder. Unless otherwise provided in an Award Agreement, in the event that an Optionholder’s Continuous Service terminates as a result of the Optionholder’s Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination), but only within such the period of time ending on the earlier of (a) the date 12 months following such termination or (b) the expiration of the term of the Option as set forth in the Award Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified herein or in the Award Agreement, the Option shall terminate.
Appears in 1 contract
Samples: Business Combination Agreement (Collier Creek Holdings)
Disability of Optionholder. Unless otherwise provided in an Award Agreement, in the event that an Optionholder’s 's Continuous Service terminates as a result of the Optionholder’s 's Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination), but only within such period of time ending on the earlier of (a) the date 12 months following such termination or (b) the expiration of the term of the Option as set forth in the Award Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified herein or in the Award Agreement, the Option shall terminate.
Appears in 1 contract
