Common use of Termination Because of Total Disability Clause in Contracts

Termination Because of Total Disability. If the Optionee’s employment or service to the Company terminates because of a permanent and total disability (as defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended), the Option may be exercised at any time before the earlier of (a) the Expiration Date or (b) the date that is three years after the date of such termination, but only if and to the extent the Optionee was entitled to exercise the Option at the date of termination (provided that all other conditions to exercise set forth herein shall have been met at the date of exercise of the Option).

Appears in 4 contracts

Samples: Services Agreement (Tullys Coffee Corp), Employment Agreement (Tullys Coffee Corp), Employment Agreement (Tullys Coffee Corp)

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