Common use of Disabled Employee Clause in Contracts

Disabled Employee. In the event of a Termination because the Employee becomes disabled, the Employee (or his or her personal representative) may exercise the Option at any time within a period ending at the earlier of the Expiration Date or 5:00 p.m., Atlanta time, on the first anniversary of such Termination, to the extent of the number of shares that were purchasable thereunder at the date of Termination. For the purposes of the foregoing paragraph the Employee shall be considered "disabled" if he or she is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to last for a continuous period of not less than twelve months.

Appears in 3 contracts

Samples: Stock Option Agreement (Ems Technologies Inc), Stock Option Agreement (Ems Technologies Inc), Stock Option Agreement (Ems Technologies Inc)

AutoNDA by SimpleDocs

Disabled Employee. In the event of a Termination because the Employee becomes disabled, the Employee (or his or her personal representative) may exercise the Option at any time within a period ending at the earlier of the Expiration Date or 5:00 p.m., Atlanta time, on the first anniversary of such Termination, to the extent of the number of shares that were purchasable thereunder at the date of Termination. For the purposes of the foregoing paragraph the Employee shall be considered "β€œdisabled" ” if he or she is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to last for a continuous period of not less than twelve months.

Appears in 2 contracts

Samples: Stock Option Agreement (Ems Technologies Inc), Stock Option Agreement (Ems Technologies Inc)

Disabled Employee. In the event of a Termination because the Employee becomes disabled, the Employee (or his or her personal representative) may exercise the this Option at any time within a period ending at the earlier of the Expiration Date or 5:00 p.m., Atlanta time, on the first anniversary of such Termination, to the extent of the number of shares that were purchasable thereunder hereunder at the date of Termination. For the purposes of the foregoing paragraph this Agreement, the Employee shall be considered "disabled" if he or she is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to last for a continuous period of not less than twelve months.

Appears in 2 contracts

Samples: 1992 Stock Incentive Plan Stock Option Agreement (Ems Technologies Inc), Stock Option Agreement (Electromagnetic Sciences Inc)

Disabled Employee. In the event of a Termination because the Employee becomes disabled, the Employee (or his or her personal representative) may exercise the this Option at any time within a period ending at the earlier of the Expiration Date or 5:00 p.m., Atlanta time, on the first anniversary of such Termination, to the extent of the number of shares that were purchasable thereunder hereunder at the date of Termination. For the purposes of the foregoing paragraph this Agreement, the Employee shall be considered "disabled" if he or she is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to last for a continuous period of not less than twelve months.

Appears in 1 contract

Samples: Stock Incentive Plan Stock Option Agreement (Ems Technologies Inc)

AutoNDA by SimpleDocs

Disabled Employee. In the event of a Termination because the Employee becomes disabled, the Employee (or his or her personal representative) may exercise the this Option at any time within a period ending at the earlier of the Expiration Date or 5:00 p.m., Atlanta time, on the first anniversary of such Termination, to the extent of the number of shares that were purchasable thereunder hereunder at the date of Termination. For the purposes of the foregoing paragraph this Agreement, the Employee shall be considered "'disabled" ' if he or she is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to last for a continuous period of not less than twelve months.

Appears in 1 contract

Samples: Stock Option Agreement (Ems Technologies Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.