Termination of Employment by Reason of Disability. If Optionee's ------------------------------------------------- employment with the Company and/or any Subsidiary terminates by reason of Disability, then the Option shall immediately become exercisable in full (notwithstanding Section 2 above), and the Option may thereafter be exercised, in whole or in part, for a period of three (3) years from the date of such termination of employment or until the expiration of the Option Term, whichever period is the shorter; and if Optionee dies within such period, any unexercised Option held by Optionee shall thereafter be exercisable, in whole or in part, for the remainder of such period.
Termination of Employment by Reason of Disability. In the event that Grantee ceases to be an employee of MBC or an Affiliate by reason of Disability, the portion of the Option, if any, that has become exercisable as of the date of Disability may be exercised in whole or in part at any time on or after the date of Disability, but not later than the end of the stated term of the Option or as otherwise provided by the provisions of Section 4.2 of this Agreement. Upon Grantee's termination of employment by reason of Disability, the portion of the Option, if any, that has not become exercisable as of the date of Disability shall terminate on the date of Disability.
Termination of Employment by Reason of Disability. Unless the Option has earlier terminated pursuant to the provisions of this Agreement, in the event that Grantee ceases, by reason of Disability, to be an employee of the Corporation or an affiliate, (i) the unvested portion of the Option shall terminate immediately and (ii) the outstanding Option may be exercised in whole or in part with respect to the shares of Stock as to which the Option is vested as of the date of Grantee's termination of employment due to Disability at any time within ninety days after the date of such termination, but not later than the end of the stated term of the Option. Unless sooner terminated, the Option shall terminate in its entirety upon the expiration of such ninety-day period. For purposes of this Agreement, Disability shall mean the inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve months.
Termination of Employment by Reason of Disability. In the event that the Employee shall sustain a disability which in the opinion of medical authority satisfactory to the Company would substantially prevent him from rendering the services required under this Agreement for a total of 180 days during any 360-day period, the Company shall have the right to terminate this Agreement upon thirty (30) days’ prior written notice to the Employee.
Termination of Employment by Reason of Disability. (1) As used herein, the term “permanent disability” shall mean, and be limited to, any physical or mental illness, disability or impairment that prevents or may reasonably be expected to prevent the Executive from continuing for the performance of her normal duties and responsibilities hereunder for a period in excess of four consecutive months. For purposes of determining whether a “permanent disability” has occurred under this Agreement, the written determination thereof by two (2) qualified practicing physicians selected and paid for by the Company (and reasonably acceptable to the Executive) shall be conclusive, provided however that if the disability is the result of an acute episode such determination shall be made in a reasonable period of time, which in any case shall be less than sixty (60) days.
(2) Upon any termination of this Agreement as hereinabove provided, the Company’s obligations under this Agreement to pay further compensation shall cease forthwith, except that the Executive (or her estate or legal representatives, as the case may be) shall be entitled to receive any and all compensation and benefits under Section 2(d)(2), which would otherwise be payable to Executive as of the effective date of termination. Should the Executive become disabled during the execution of, or during travel in connection with, his or her duties, then the Executive (or his or her estate or legal representatives, as the case may be) shall be entitled to the compensation and benefits under Section 2(c)(2).
Termination of Employment by Reason of Disability. Unless this Option has earlier terminated for Cause or due to the Optionee’s death or the Company’s termination of Optionee’s employment without Cause, in the event that Optionee ceases, by reason of Disability, to be an employee of the Company or any of the Company’s subsidiaries, any unexercised portion of this Option may be exercised in whole or in part at any time within one year after the date of Optionee’s termination of employment due to Disability, but not later than the Expiration Date of this Option. Unless sooner terminated, this Option shall terminate upon the expiration of such one year period. For purposes of this Option, Disability shall mean the inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months. The Administrator may require such proof of Disability as the Administrator in its sole discretion deems appropriate and the Administrator’s determination as to whether Optionee is Disabled shall be final and binding on all parties concerned.
Termination of Employment by Reason of Disability. If the Executive shall become temporarily disabled during the term of this Agreement, all of the Executive's rights under this Agreement shall continue until such time as the Executive either returns to work or is deemed "permanently disabled" (as hereinafter defined in Section 7.2).
7.1 If the Executive shall be deemed permanently disabled, the Executive's employment shall automatically terminate at the end of the month in which it is determined that the Executive has a permanent disability. Upon such termination, the Corporation shall pay the Executive (or his legal representatives) as if the Executive were terminated by Reason of Death. During the period of permanent disability the Executive shall be entitled to receive any benefits payable under the Corporation's disability insurance program.
7.2 The Executive shall be deemed permanently disabled for purposes of this Agreement if:
(a) in the opinion of the Board of Directors, the Executive is unable to render full-time service to the Corporation pursuant to the terms of this Agreement for six consecutive months; or
(b) in the opinion of the Board of Directors, the Executive is unable to render full-time service to the Corporation pursuant to the terms of this Agreement for nine months out of any twelve consecutive month period; or
(c) in the opinion of the Corporation's Medical Director or, if there is no Medical Director at such time, a physician mutually selected by the Corporation and the Executive or selected in accordance with the provisions of this Section 7.2, the Executive is permanently unable to render full-time service to the Corporation under this Agreement. If the Corporation and the Executive are unable to mutually agree upon the selection of a physician under "(c)" above within 30 days of either party requesting the other to so agree, each party shall select a physician and the two physicians so selected shall promptly select a third physician who shall make such determination.
Termination of Employment by Reason of Disability. If the Employee shall become temporarily disabled during the term of this Agreement, all of the Employee's rights under this Agreement shall continue until such time as the Employee either returns to work or is deemed "permanently disabled" (as hereinafter defined in Section 6.1
Termination of Employment by Reason of Disability. Unless the Option has earlier terminated pursuant to the provisions of the Agreement, in the event that Grantee ceases, by reason of Disability, to be an employee of the Corporation, all or any part of the Option that was vested as of the date of termination of employment may be exercised in whole or in part at any time until the earlier of the end of the Twelve Month Period or the end of the stated term of the Option. For purposes of this Agreement, Disability shall be as defined in Code Section 22(e)(3) and shall be determined by the Committee, with its determination on the matter being final and binding. Failure to exercise the Option within the Twelve Month Period shall render the Option a non-qualified stock option.
Termination of Employment by Reason of Disability. In the event the employment of Key Employee is terminated by reason of Disability, any Option that has not been exercised, including any unvested portions, shall become immediately exercisable at any time prior to the expiration date of the Options or within one year after such date of termination of employment, whichever period is shorter. For purposes of this Agreement, Disability means a permanent and total disability as determined by the Committee in good faith, upon receipt of sufficient competent medical advice.
