Common use of Exercise After Death or Disability Clause in Contracts

Exercise After Death or Disability. If Optionee's employment is terminated by reason of Optionee's death or Optionee's permanent disability, as defined in Section 22(e) of the Code or in any successor statute or regulation, or if Optionee dies within three (3) months after any other termination of his employment, then for a period of one (1) year after Optionee dies or becomes permanently disabled this option may be exercised as to all or a portion of the rights accrued under subparagraph 1.a above as of the date of employment termination.

Exercise After Death or Disability. If Optionee's employment or Optionee's service as a director or consultant is terminated by reason of Optionee's death or Optionee's permanent disability, as defined in Section 22(e) of the Code or in any successor statute or regulation, or if Optionee dies within three (3) months after any other termination of his employmentsuch termination, then for a period of one (1) year after Optionee dies or becomes permanently disabled this option may be exercised as to all or a portion of the rights accrued under subparagraph 1.a above as of the date of employment such termination.