Common use of Disability of the Employee Clause in Contracts

Disability of the Employee. Notwithstanding the provisions in Section 4 of this Grant Agreement but subject to the terms of Section 17(a) in the event of the Employee’s termination prior to the fifth anniversary of the Grant Date due to permanent and total disability, this Stock Option shall vest in full, to the extent not previously vested or forfeited. In the event of the Employee’s termination due to permanent and total disability at any time prior to the Expiration Date, the Employee may exercise his or her vested rights under this Grant Agreement within three (3) years from the date of termination. In all cases, however, this Stock Option will expire no later than the Expiration Date. The Company’s obligation to vest the Stock Option under this Section is subject to the condition that the Employee shall have executed a current Agreement Regarding Confidential Information and Proprietary Developments (“ARCIPD”) that is satisfactory to the Company, and shall not engage in any conduct that creates a conflict of interest in the opinion of the Company.

Appears in 2 contracts

Samples: Grant Agreement (Hp Inc), Grant Agreement (Hewlett Packard Enterprise Co)

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Disability of the Employee. Notwithstanding the provisions in Section 4 of this Grant Agreement but subject to the terms of Section 17(a) 15, in the event of the Employee’s termination prior to the fifth fourth anniversary of the Grant Date due to permanent and total disability, this Stock Option shall vest in full, to the extent not previously vested or forfeited. In the event of the Employee’s termination due to permanent and total disability at any time prior to the Expiration Date, the Employee may exercise his or her vested rights under this Grant Agreement within three (3) years from the date of termination. In all cases, however, this Stock Option will expire no later than the Expiration Date. The Company’s obligation to vest the Stock Option under this Section paragraph is subject to the condition that the Employee shall have executed a current Agreement Regarding Confidential Information and Proprietary Developments (“ARCIPD”) that is satisfactory to the Company, and shall not engage in any conduct that creates a conflict of interest in the opinion of the Company.

Appears in 2 contracts

Samples: Grant Agreement (Hp Inc), Grant Agreement (Hewlett Packard Co)

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