Common use of Retirement, Permanent Disability, or Death Clause in Contracts

Retirement, Permanent Disability, or Death. Upon termination of the Participant’s employment by reason of retirement, permanent disability or death (as determined by the Committee), all unvested stock options shall continue to vest and all vested Stock Options shall continue to be outstanding. The Participant (or in the case of death, the Participant’s estate, or any person who acquires the right to exercise the Stock Option by bequest or inheritance or otherwise by reason of Participant’s death) may, within sixty (60) months from the date of termination, exercise the Stock Option, to the extent that it is exercisable during the sixty-month period. At the end of the sixty-month period, all unexercised stock options shall terminate.