Common use of Termination of Service Due to Death or Disability Clause in Contracts

Termination of Service Due to Death or Disability. If your Service terminates because of your death or Disability, then the unvested portion of your Option shall be forfeited without consideration and shall immediately expire on your Termination Date and the vested portion of your Option will expire at the earlier of (i) the close of business at Company headquarters on the date that is six (6) months after your Termination Date, (ii) the Expiration Date set forth in the attached cover sheet and further described in Section 4 above, or (iii) the date on which the Option is cancelled (and not substituted or assumed) pursuant to a Change in Control or merger or acquisition or similar transaction involving the Company. In no event is the Option exercisable after the Expiration Date. If your Service terminated due to your death, then your estate may exercise the vested portion of your Option during the foregoing post-Service exercise period.

Appears in 6 contracts

Samples: Incentive Stock Option Agreement (CITIC Capital Acquisition Corp.), Nonstatutory Stock Option Agreement (CITIC Capital Acquisition Corp.), Nonstatutory Stock Option Agreement (CITIC Capital Acquisition Corp.)

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Termination of Service Due to Death or Disability. If your Service terminates because of your death or Disability, then the unvested portion of your Option shall be forfeited without consideration and shall immediately expire on your Termination Date and the vested portion of your Option will expire at the earlier of (i) the close of business at Company headquarters on the date that is six twelve (612) months after your Termination Date, (ii) the Expiration Date set forth in the attached cover sheet and further described in Section 4 above, or (iii) the date on which the Option is cancelled (and not substituted or assumed) pursuant to a Change in Control or merger or acquisition or similar transaction involving the Company. In no event is the Option exercisable after the Expiration Date. If your Service terminated due to your death, then your estate may exercise the vested portion of your Option during the foregoing post-Service exercise period.

Appears in 3 contracts

Samples: Incentive Stock Option Agreement (Lifevantage Corp), Incentive Stock Option Agreement (Lifevantage Corp), Nonstatutory Stock Option Agreement (Lifevantage Corp)

Termination of Service Due to Death or Disability. If your Service terminates because of your death or Disability, then the unvested portion of your Option shall be forfeited without consideration and shall immediately expire on your Termination Date and the vested portion of your Option will expire at the earlier of (i) the close of business at Company headquarters on the date that is six (6) months after your Termination Date, (ii) the Expiration Date set forth in the attached cover sheet and further described in Section 4 above, or (iii) the date on which the Option is cancelled (and not substituted or assumed) pursuant to a Change in Control or merger or acquisition or similar transaction involving the Company. In no event is the Option exercisable after the Expiration Date. If your Service terminated due to your death, then your estate may exercise the vested portion of your Option during the foregoing post-Service exercise period.the

Appears in 2 contracts

Samples: Nonstatutory Unit Option Agreement (Interior Logic Group Holdings, LLC), Nonstatutory Unit Option Agreement (Interior Logic Group Holdings, LLC)

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Termination of Service Due to Death or Disability. If your Service terminates because of your death or Disability, then the unvested portion of your Option shall be forfeited without consideration and shall immediately expire on your Termination Date and and, subject always to Section 7 below, the vested portion of your Option will expire at the earlier of (i) the close of business at Company headquarters on the date that is six (6) months after your Termination Date, (ii) the Expiration Date set forth in the attached cover sheet and further described in Section 4 3 above, or (iii) the date on which the Option is cancelled (and not substituted or assumed) pursuant to a Change in Control or merger or acquisition or similar transaction involving the Company. In no event is the Option exercisable after the Expiration Date. If your Service terminated due to your death, then your estate may exercise the vested portion of your Option during the foregoing post-Service exercise period.

Appears in 1 contract

Samples: Stock Option Agreement (CITIC Capital Acquisition Corp.)

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