Common use of Disability or Retirement of the Employee Clause in Contracts

Disability or Retirement of the Employee. Notwithstanding the provisions in paragraph 4 of this Grant Agreement, in the event of the Employee’s termination due to retirement, in accordance with the applicable retirement policy, or permanent and total disability this Stock Option shall vest in full and the Employee may exercise his 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 set forth above. The Company’s obligation to vest the Stock Option under this paragraph is subject to the condition that the Employee shall have executed a current 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.

Disability or Retirement of the Employee. Notwithstanding the provisions in paragraph 4 of this Grant Stock Notification and Award Agreement, in the event of the Employee’s termination due to retirement, in accordance with the applicable retirement policy, or permanent and total disability this Stock Option shall vest in full and the Employee may exercise his rights under this Grant Stock Notification and Award 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 set forth above. The Company’s obligation to vest the Stock Option under this paragraph is subject to the condition that the Employee shall have executed a current 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.

Disability or Retirement of the Employee. Notwithstanding the provisions in paragraph of Section 4 of this Grant Agreement, in the event of the Employee’s termination due to retirement, retirement in accordance with the applicable retirement policy, or permanent and total disability this Stock Option shall vest in full and the Employee may exercise his or her 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 set forth aboveExpiration Date. The Company’s obligation to vest the Stock Option under this paragraph Section is subject to the condition that the Employee shall have executed a current ARCIPD 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.