Common use of Termination of Employment by Disability Clause in Contracts

Termination of Employment by Disability. In the event the employment of the Optionee is terminated by reason of Disability, the outstanding unvested portion of the Option shall expire as of the date the Committee determines the definition of Disability to have been satisfied by the Optionee, 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 Committee’s determination of Disability, whichever period is shorter.

Appears in 2 contracts

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

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Termination of Employment by Disability. In the event the employment of the Optionee Participant is terminated by reason of Disability, all outstanding Options not yet vested shall become immediately fully vested and, along with all previously vested Options, shall remain exercisable at any time prior to the outstanding unvested portion Date of the Option shall expire as of Expiration, or for one year after the date that the Committee determines the definition of Disability to have been satisfied by the Optionee, 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 Committee’s determination of Disabilitysatisfied, whichever period is shorter. Section 7.

Appears in 2 contracts

Samples: Federal Signal Corp /De/, Federal Signal Corp /De/

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Termination of Employment by Disability. In the event the employment of the Optionee Participant is terminated by reason of Disability, all outstanding Options not yet vested shall become immediately fully vested and, along with all previously vested Options, shall remain exercisable at any time prior to the outstanding unvested portion Date of the Option shall expire as of Expiration, or for one year after the date that the Committee determines the definition of Disability to have been satisfied by the Optionee, 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 Committee’s determination of Disabilitysatisfied, whichever period is shorter.

Appears in 1 contract

Samples: Award Agreement (Federal Signal Corp /De/)

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