Common use of Disability of Shareholder Clause in Contracts

Disability of Shareholder. If a Shareholder shall become totally disabled, the Corporation or the remaining Shareholders shall have the option to purchase all, but not less than all of the disabled Shareholder's shares. The option to purchase shall be exercised within thirty (30) days from the commencement of the total disability. If neither the Shareholder nor the Corporation exercises the option within the first thirty (30) day period, the options shall be restored every ninety (90) days thereafter. Should the Shareholders exercise said option, they shall purchase the disabled Shareholder's shares in the percentage of their respective stock ownership in the Corporation to all the outstanding stock of the Corporation exclusive of the shares owned by the disable Shareholder.