Termination Because of Total Disability. If the Optionee’s employment or service with the Company terminates because of total disability, the Option may be exercised at any time before the Expiration Date or before the date 12 months after the date of termination, whichever is the shorter period, but only if and to the extent the Optionee was entitled to exercise the Option at the date of termination. The term “total disability” means a medically determinable mental or physical impairment that is expected to result in death or has lasted or is expected to last for a continuous period of 12 months or more and that, in the opinion of the Company and two independent physicians, causes the Optionee to be unable to perform duties as an employee, director, officer or consultant of the Employer and unable to be engaged in any substantial gainful activity. Total disability shall be deemed to have occurred on the first day after the two independent physicians have furnished their written opinion of total disability to the Company and the Company has reached an opinion of total disability.
Appears in 8 contracts
Samples: Non Statutory Stock Option Agreement (Methes Energies International LTD), Form of Incentive Stock Option Agreement (Methes Energies International LTD), Non Statutory Stock Option Agreement (ADVANCED MEDICAL ISOTOPE Corp)
Termination Because of Total Disability. If the Optionee’s 's employment or service with the Company terminates because of total disability, the Option may be exercised at any time before the Expiration Date or before the date 12 months after the date of termination, whichever is the shorter period, but only if and to the extent the Optionee was entitled to exercise the Option at the date of termination. The term “"total disability” " means a medically determinable mental or physical impairment that is expected to result in death or has lasted or is expected to last for a continuous period of 12 months or more and that, in the opinion of the Company and two independent physicians, causes the Optionee to be unable to perform duties as an employee, director, officer or consultant of the Employer and unable to be engaged in any substantial gainful activity. Total disability shall be deemed to have occurred on the first day after the two independent physicians have furnished their written opinion of total disability to the Company and the Company has reached an opinion of total disability.
Appears in 3 contracts
Samples: Incentive Stock Option Agreement (McCormick & Schmicks Seafood Restaurants Inc.), Stock Option Agreement (Sensar Corp /Nv/), Stock Option Agreement (Sensar Corp /Nv/)
Termination Because of Total Disability. If the Optionee’s employment or service with the Company terminates because of total disabilityTotal Disability, the Option may be exercised at any time before the Expiration Date or before the date 12 months after the date of termination, whichever is the shorter period, but only if and to the extent the Optionee was entitled to exercise the Option at the date of termination. The term “total disabilityTotal Disability” means a medically determinable mental or physical impairment that is expected to result in death or has lasted or is expected to last for a continuous period of 12 months or more and that, in the opinion of the Company and two independent physicians, causes the Optionee to be unable to perform duties as an employee, director, officer or consultant of the Employer and unable to be engaged in any substantial gainful activity. Total disability Disability shall be deemed to have occurred on the first day after the two independent physicians have furnished their written opinion of total disability Total Disability to the Company and the Company has reached an opinion of total disabilityTotal Disability.
Appears in 2 contracts
Samples: Verasun Energy (Verasun Energy Corp), Verasun Energy Corporation (Verasun Energy Corp)
Termination Because of Total Disability. If the Optionee’s 's employment or service with the Company terminates because of total disabilityTotal Disability, the Option may be exercised at any time before the Expiration Date or before the date 12 months after the date of termination, whichever is the shorter period, but only if and to the extent the Optionee was entitled to exercise the Option at the date of termination. The term “total disability” "Total Disability" means a medically determinable mental or physical impairment that is expected to result in death or has lasted or is expected to last for a continuous period of 12 months or more and that, in the opinion of the Company and two independent physicians, causes the Optionee to be unable to perform duties as an employee, director, officer or consultant of the Employer and unable to be engaged in any substantial gainful activity. Total disability Disability shall be deemed to have occurred on the first day after the two independent physicians have furnished their written opinion of total disability Total Disability to the Company and the Company has reached an opinion of total disabilityTotal Disability.
Appears in 2 contracts
Samples: Non Statutory Stock Option Agreement (Verasun Energy Corp), Incentive Stock Option Agreement (Verasun Energy Corp)
Termination Because of Total Disability. If the Optionee’s employment or service with the Company terminates because of total disability, the Option may be exercised at any time before the Expiration Date or before the date 12 six months after the date of termination, whichever is the shorter period, but only if and to the extent the Optionee was entitled to exercise the Option at the date of termination. The term “total disability” means a medically determinable mental or physical impairment that is expected to result in death or has lasted or is expected to last for a continuous period of 12 six months or more and that, in the opinion of the Company and two one independent physiciansphysician, causes the Optionee to be unable to perform his or her duties as an employee, director, officer officer, or consultant of the Employer and unable to be engaged in any substantial gainful activity. Total disability shall be is deemed to have occurred on the first day after the two independent physicians have physician furnished their his or her written opinion of total disability to the Company and the Company has reached an opinion of total disability.
Appears in 1 contract
Samples: Statutory Stock Option Agreement (Erickson Air-Crane Inc)
Termination Because of Total Disability. If the Optionee’s 's employment or service with the Company terminates because of total disability, the Option may be exercised at any time before the Expiration Date or before the date 12 months after the date of termination, whichever is the shorter period, but only if and to the extent the Optionee was entitled to exercise the Option at the date of termination. The term “"total disability” " means a medically determinable mental or physical impairment that is expected to result in death or has lasted or is expected to last for a continuous period of 12 months or more and that, in the opinion of the Company and two independent physicians, causes the 3 Optionee to be unable to perform duties as an employee, director, officer or consultant of the Employer and unable to be engaged in any substantial gainful activity. Total disability shall be deemed to have occurred on the first day after the two independent physicians have furnished their written opinion of total disability to the Company and the Company has reached an opinion of total disability.
Appears in 1 contract
Samples: Non Statutory Stock Option Agreement (Microhelix Inc)
Termination Because of Total Disability. If the Optionee’s employment or service with the Company terminates because of total disability, the Option may be exercised at any time before the Expiration Date or before the date 12 three months after the date of termination, whichever is the shorter period, but only if and to the extent the Optionee was entitled to exercise the Option at the date of termination. The term “total disability” means a medically determinable mental or physical impairment that is expected to result in death or has lasted or is expected to last for a continuous period of 12 six months or more and that, in the opinion of the Company and two one independent physiciansphysician, causes the Optionee to be unable to perform his or her duties as an employee, director, officer officer, or consultant of the Employer and unable to be engaged in any substantial gainful activity. Total disability shall be is deemed to have occurred on the first day after the two independent physicians have physician furnished their his or her written opinion of total disability to the Company and the Company has reached an opinion of total disability.
Appears in 1 contract
Samples: Incentive Stock Option Agreement (Erickson Air-Crane Inc)