Common use of Retirement and Total and Permanent Disability Clause in Contracts

Retirement and Total and Permanent Disability. If an Optionee should become permanently and totally disabled while an employee, non-employee director or officer of the Company, options shall become fully exercisable as to all shares subject to them and may be exercised at any time within one (1) year following the date of disability, but in no event after the Expiration Date set forth on Exhibit A. If an Optionee should retire with the written consent of the Company, options shall become fully exercisable as to all shares subject to them and may be exercised at any time within three (3) months of such retirement, but in no event after the Expiration Date set forth on Exhibit A.

Appears in 4 contracts

Samples: Non Qualified Stock Option Agreement (Unitrend Inc), Incentive Stock Option Agreement (Unitrend Inc), Incentive Stock Option Agreement (Unitrend Inc)

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Retirement and Total and Permanent Disability. If an Optionee should become permanently and totally disabled while an employee, non-employee director or officer of the Company, options shall become fully exercisable as to all shares subject to them and may be exercised at any time within one (1) year following the date of disability, but in no event after the Expiration Date set forth on Exhibit A. If an Optionee should retire with the written consent of the Company, options shall become fully exercisable as to all shares subject to them and may be exercised at any time within three (3) months of such retirement, but in no event after the Expiration Date set forth on Exhibit A.A. If such option is exercised within three months prior to the

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (Unitrend Inc), Incentive Stock Option Agreement (Unitrend Inc)

Retirement and Total and Permanent Disability. If an Optionee should become permanently and totally disabled while an employee, non-employee director or officer of the Company or while providing other services to the Company, options shall become fully exercisable as to all shares subject to them and may be exercised at any time within one (1) year following the date of disability, but in no event after the Expiration Date set forth on Exhibit A. If an Optionee should retire with the written consent of the Company, options shall become fully exercisable as to all shares subject to them and may be exercised at any time within with three (3) months of such retirement, but in no event after the Expiration Date set forth on Exhibit A.A. If such option is exercised within three months prior to the Expiration Date set forth in Exhibit A, such Option shall not receive favorable tax treatment under Code Section 421(a).

Appears in 2 contracts

Samples: Memorandum Agreement (Unitrend Inc), Incentive Stock Option Agreement (Unitrend Inc)

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Retirement and Total and Permanent Disability. If an Optionee optionee should become permanently and totally disabled while an employee, non-employee director or officer of the Company or while providing other services to the Company, options shall become fully exercisable as to all shares subject to them and may be exercised at any time within one (1) year following the date of disability, but in no event after the Expiration Date set forth on Exhibit A. . If an Optionee optionee should retire with the written consent of the Company, options shall become fully exercisable as to all shares subject to them and may be exercised at any time within with three (3) months of such retirement, but in no event after the Expiration Date set forth on Exhibit A.

Appears in 2 contracts

Samples: Non Qualified Stock Option Agreement (AEye, Inc.), Non Qualified Stock Option Agreement

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