Common use of Termination of Employment by Disability Clause in Contracts

Termination of Employment by Disability. In the event the employment of the Optionee with the Company is terminated by reason of Disability (as defined in the Plan), the outstanding unvested portion of the Option shall expire as of the date the employment of the Optionee is terminated by reason of Disability, and the outstanding vested portion of the Option as of that date shall remain exercisable at any time prior to its expiration date or for one (1) year after the termination of the Optionee’s employment by reason of Disability, whichever period is shorter.

Appears in 4 contracts

Samples: Agreement (United Community Banks Inc), Stock Option Award Agreement (United Community Banks Inc), Agreement (United Community Banks Inc)

AutoNDA by SimpleDocs

Termination of Employment by Disability. In the event the employment of the Optionee with the Company is terminated by reason of Disability (as defined in the Plan), the outstanding unvested portion of the Option shall expire as of the date the employment of the Optionee is terminated by reason of Disability, and the outstanding vested portion of the Option as of that date shall remain exercisable at any time prior to its expiration date date, or for one (1) year after the termination of the Optionee’s employment by reason of Disability, whichever period is shorter.

Appears in 2 contracts

Samples: Stock Option Award Agreement (United Community Banks Inc), Stock Option Award Agreement (United Community Banks Inc)

Termination of Employment by Disability. In the event the employment of the Optionee with the Company is terminated by reason of Disability (as defined in the Plan)Disability, the outstanding unvested portion of the Option shall expire as of the date the employment Committee determines the definition of Disability to have been satisfied by the Optionee is terminated by reason of DisabilityOptionee, and the outstanding vested portion of the Option as of that date shall remain exercisable at any time prior to its expiration date date, or for one (1) year after the termination of the OptioneeCommittee’s employment by reason determination of Disability, whichever period is shorter.

Appears in 2 contracts

Samples: Option Agreement (United Community Banks Inc), Option Agreement (United Community Banks Inc)

Termination of Employment by Disability. In the event the If, without having fully exercised this Option, Optionee's employment of the Optionee with the Company is terminated by reason of Disability (as defined in the Plan), the any outstanding unvested portion of the Option shall expire as of Options granted to Participant that are not exercisable at the date of termination shall become fully exercisable. Optionee shall have the employment of the Optionee is terminated by reason of Disability, and the outstanding vested portion of the same right to exercise this Option as Optionee had during his or her employment for a period ending on the Date of that date shall remain exercisable at any time prior to its expiration date or for one (1) year after the termination of the Optionee’s employment by reason of Disability, whichever period is shorterExpiration set forth above.

Appears in 1 contract

Samples: Agreement (Meredith Corp)

AutoNDA by SimpleDocs

Termination of Employment by Disability. In the event the If, without having fully exercised this Option, Optionee's employment of the Optionee with the Company is terminated by reason of Disability (as defined in the Plan), the any outstanding unvested portion of the Option shall expire as of Options granted to Participant that are not exercisable at the date of termination shall become fully exercisable. Optionee shall have the employment of the Optionee is terminated by reason of Disability, and the outstanding vested portion of the same right to exercise this Option as Optionee had during his or her employment for a period ending on the Date of that date shall remain exercisable at any time prior to its expiration date or for one (1) year after Expiration set forth in the termination of the Optionee’s employment by reason of Disability, whichever period is shorterattached Notice.

Appears in 1 contract

Samples: Stock Incentive Plan Agreement (Meredith Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.