Common use of Termination Because of Death or Disability Clause in Contracts

Termination Because of Death or Disability. If Optionee is Terminated because of death or Disability of Optionee (or the Optionee dies within three (3) months after Termination other than for Cause or because of Disability), then this Option, to the extent that it is vested in accordance with the schedule set forth in Section 2.1 hereof on the Termination Date, may be exercised by Optionee (or Optionee’s legal representative or authorized assignee) no later than twelve (12) months after the Termination Date, but in any event no later than the Expiration Date. Any exercise after three (3) months after the Termination Date when the Termination is for any reason other than Optionee’s death or disability, within the meaning of Code Section 22(e)(3), shall be deemed to be the exercise of a nonqualified stock option.

Appears in 4 contracts

Samples: Executive Employment Agreement (Verisign Inc/Ca), Stock Option Agreement (China Health Resource, Inc.), Stock Option Agreement (Verisign Inc/Ca)

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Termination Because of Death or Disability. If Optionee is Terminated because of death or Disability of Optionee (or the Optionee dies within three (3) months after Termination other than for Cause or because of Disability), then this Option, to the extent that it is vested in accordance with the schedule set forth in Section 2.1 hereof on the Termination Date, may be exercised by Optionee (or Optionee’s 's legal representative or authorized assignee) no later than twelve (12) months after the Termination Date, but in any event no later than the Expiration Date. Any exercise after three (3) months after the Termination Date when the Termination is for any reason other than Optionee’s 's death or disability, within the meaning of Code Section 22(e)(3), shall be deemed to be the exercise of a nonqualified stock option.

Appears in 3 contracts

Samples: Stock Option Agreement (Niku Corp), Stock Option Agreement (Niku Corp), Stock Option Agreement (Transmeta Corp)

Termination Because of Death or Disability. If Optionee is Terminated because of death or Disability of Optionee (or the Optionee dies within three (3) months after Termination other than for Cause or because of Disability), then this Option, to the extent that it is vested in accordance with the vesting schedule set forth in Section 2.1 hereof on the Certificate on the Termination Date, may be exercised by Optionee (or Optionee’s legal representative or authorized assignee) no later than twelve (12) months after the Termination Date, but in any event no later than the Expiration Date. Any exercise after three (3) months after the Termination Date when the Termination is for any reason other than Optionee’s death or disability, within the meaning of Code Section 22(e)(3), shall be deemed to be the exercise of a nonqualified stock option.

Appears in 3 contracts

Samples: Stock Option Agreement (Lexar Media Inc), Executive Stock Option Agreement (Lexar Media Inc), Stock Option Agreement (Lexar Media Inc)

Termination Because of Death or Disability. If Optionee is Terminated because of death or Disability of Optionee (or the Optionee dies within three (3) months after Termination other than for Cause or because of Disability), then this Option, to the extent that it is vested in accordance with the schedule set forth in Section 2.1 hereof on the Termination Date, may be exercised by Optionee (or Optionee’s 's legal representative or authorized assignee) no later than twelve (12) months after the Termination Date, but in any event no later than the Expiration Date. Any exercise after three (3) months after the Termination Date when the Termination is for any reason other than Optionee’s death or 's disability, within the meaning of Code Section 22(e)(3), shall be deemed to be the exercise of a nonqualified stock option.

Appears in 3 contracts

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

Termination Because of Death or Disability. If Optionee is Terminated because of death or Disability disability of Optionee (or the Optionee dies within three (3) months after Termination other than for Cause cause or because of Disabilitydisability), then this Option, to the extent that it is vested in accordance with the schedule set forth in Section 2.1 hereof on the Termination Date, may be exercised by Optionee (or Optionee’s 's legal representative or authorized assignee) no later than twelve (12) months after the Termination Date, but in any event event, no later than the Expiration Date. Any exercise after three (3) months after the Termination Date when the Termination is for any reason other than Optionee’s 's death or disability, within the meaning of Code Section 22(e)(3), shall be deemed to be the exercise of a nonqualified stock option.

Appears in 1 contract

Samples: Stock Option Agreement (Tech Laboratories Inc)

Termination Because of Death or Disability. If Optionee is ------------------------------------------ Terminated because of death or Disability of Optionee (or the Optionee dies within three (3) months after Termination other than for Cause or because of Disability), then this Option, to the extent that it is vested in accordance with the schedule set forth in Section 2.1 hereof on the Termination Date, may be exercised by Optionee (or Optionee’s 's legal representative or authorized assignee) no later than twelve (12) months after the Termination Date, but in any event no later than the Expiration Date. Any exercise after three (3) months after the Termination Date when the Termination is for any reason other than Optionee’s death or 's disability, within the meaning of Code Section 22(e)(3), shall be deemed to be the exercise of a nonqualified stock option.

Appears in 1 contract

Samples: Stock Option Agreement (Ebay Inc)

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Termination Because of Death or Disability. If Optionee is ------------------------------------------ Terminated because of death or Disability of Optionee (or the Optionee dies within three (3) months after Termination other than for Cause or because of Disability), then this the Option, to the extent that it is vested in accordance with the schedule set forth in Section 2.1 hereof the Notice of Grant on the Termination Date, may be exercised by Optionee (or Optionee’s 's legal representative or authorized assignee) no later than twelve (12) months after the Termination Date, but in any event no later than the Expiration Dateexpiration date. Any exercise after three (3) months after the Termination Date when the Termination is for any reason other than Optionee’s 's death or disability, within the meaning of Code Section 22(e)(3), shall be deemed to be the exercise of a nonqualified stock option.

Appears in 1 contract

Samples: Stock Option Agreement (Interwoven Inc)

Termination Because of Death or Disability. If Optionee is ------------------------------------------ Terminated because of death or Disability of Optionee (or the Optionee dies within three (3) months after Termination other than for Cause or because of Disability), then this the Option, to the extent that it is vested in accordance with the schedule set forth in Section 2.1 hereof the Notice of Grant on the Termination Date, may be exercised by Optionee (or Optionee’s 's legal representative or authorized assignee) no later than twelve (12) months after the Termination Date, but in any event no later than the Expiration Dateexpiration date. Any exercise after three (3) months after the Termination Date when the Termination is for any reason other than Optionee’s 's death or disability, within the meaning of Code Section 22(e)(3), shall be deemed to be the exercise of a nonqualified stock option.. Interwoven, Inc. Stock Option Agreement 1999 Equity Incentive Plan

Appears in 1 contract

Samples: Stock Option Agreement (Interwoven Inc)

Termination Because of Death or Disability. If Optionee is Terminated because of death or Disability of Optionee (or the Optionee dies within three (3) months after Termination other than for Cause or because of Disability), then this Option, to the extent that it is vested in accordance with the schedule set forth in Section 2.1 hereof the Notice on the Termination Date, may be exercised by Optionee (or Optionee’s 's legal representative or authorized assignee) no later than twelve (12) months after the Termination Date, but in any event no later than the Expiration Date. Any exercise after three (3) months after the Termination Date when the Termination is for any reason other than Optionee’s death or 's disability, within the meaning of Code Section 22(e)(3), shall be deemed to be the exercise of a nonqualified stock option.

Appears in 1 contract

Samples: Stock Option Agreement (Ebay Inc)

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