Disability of Holder Sample Clauses

Disability of Holder. If a Holder ceases to be a Director, Officer, -------------------- Employee or Consultant as a result of the Holder's disability, as such term is defined in Section 22(e)(3) of the Code, or, in the case of a Consultant which is an entity, the bankruptcy or dissolution of such Consultant, the Holder may exercise his or her Option within such period of time as is specified in the Option Agreement to the extent the Option is vested on the date of termination. In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for three (3) years following the occurrence of the Holder's disability, bankruptcy or dissolution, as the case may be. If, on the date of disability, bankruptcy or dissolution, the Holder is not vested as to his or her entire Option, the Class B Shares covered by the unvested portion of the Option shall immediately cease to be issuable under the Option and shall again become available for issuance under the Plan. If, after disability, bankruptcy or dissolution, the Holder does not exercise his or her Option within the time specified herein, the Option shall terminate, and the Class B Shares covered by such Option shall again become available for issuance under the Plan.
Sample 1Sample 2Sample 3See All (7)
AutoNDA by SimpleDocs
Disability of Holder. If the Holder’s employment with the Company is terminated by reason of his disability (as defined in the Employment Agreement), this Option may be exercised, to the extent otherwise exercisable on the date the employment was terminated, at any time within 180 days after such termination, but not later than the scheduled expiration date.
Sample 1Sample 2
Disability of Holder. If the employment of the Holder shall -------------------- terminate on account of his or her having become "disabled", as provided in Holder's employment agreement with the Company or as defined in Section 22(e)(3) of the Code, the Option may be exercised in full by the Holder or the Holder's personal representative at any time within one (1) year after the date of which the Holder's employment terminated, but not beyond the original term of the Option.
Sample 1Sample 2
Disability of Holder. Notwithstanding the provisions of Section -------------------- 1.3(a) above, in the event of termination of an Holder's Continuous Status as an Employee or Consultant as a result of his Disability, Holder may, but only within 12 months from the date of such termination (and in no event later than the Expiration Time) exercise the Warrant to the extent otherwise entitled to exercise it at the Termination Date. To the extent that Holder is not entitled to exercise the Warrant at the Termination Date, or if Holder does not exercise such Warrant to the extent so entitled within the time specified herein, the Warrant shall terminate.
Sample 1
Disability of Holder. If Xxxxxxxxx ceases to be a Service Provider as a result of his or her total and permanent disability within the meaning of Code Section 22(e)(3), Holder may exercise the Warrant to the extent the Warrant was vested at the date on which Xxxxxxxxx ceases to be a Service Provider, but only within twelve (12) months from such date (and in no event later than the expiration date of the term of this Warrant as set forth in Article I). To the extent that the Warrant is not vested at the date on which Rabinzohn ceases to be a Service Provider, or if Holder does not exercise such Warrant within the time specified herein, the Warrant shall terminate.
Sample 1
Disability of Holder. If Xxxxxx’s Continuous Service terminates as a result of the Holder’s Disability, the Holder may exercise this Warrant, but only as to the Vested Shares at the date of such termination and only within twelve (12) months from the date of such termination (but in no event later than the Expiration Date), and only to the extent that the Holder was entitled to exercise it at the date of such termination. To the extent that Xxxxxx was not entitled to exercise this Warrant at the date of such termination, and to the extent that the Holder does not exercise this Warrant (to the extent otherwise so entitled) within the time specified herein, this Warrant shall terminate.
Sample 1

Related to Disability of Holder

  • Termination on Disability If during the Term the Employee should fail to perform Employee’s duties hereunder on account of Disability, the Company shall have the right, on written Notice of Termination delivered to the Employee, to terminate the Employee’s employment under this Agreement. During the period that the Employee shall have been incapacitated due to physical or mental illness, the Employee shall continue to receive the full Base Salary provided for in Section 4.1 hereof at the rate then in effect until the Date of Termination pursuant to this Section 7.3. In the event of Employee’s termination for Disability pursuant to this Section 7.3 that constitutes Employee’s Separation from Service, then on the Date of Termination, the Company shall, in lieu of any payments under Sections 4.1 and 4.2 for the remainder of the Term, pay to the Employee the payments and other benefits applicable to termination without Cause set forth in Section 7.2 hereof, other than those related to career counseling and resume development. The Company shall also pay the Health Insurance Benefit. Notwithstanding the previous sentence, with regard to such continuation coverage, if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating applicable law or potentially incurring penalties, excise taxes and fees pursuant to the Code and the Department of Treasury regulations promulgated thereunder (including, without limitation, Section 2716 of the Public Health Service Act), the Health Insurance Benefit shall terminate and the Employee shall not be eligible to receive any further benefits related to the Health Insurance Benefit other than as otherwise required by applicable law. In addition, on such termination, all of the Employee’s outstanding but unvested Options and rights relating to capital stock of the Company shall immediately vest and become exercisable, and all RSUs and shares of the Company’s Restricted Stock issued to the Employee shall immediately vest and become unrestricted and freely transferable. The exercisability of any such Options and rights shall be extended to the earlier of (a) the expiration of the term of such Options or rights or (b) the first (1st) anniversary of the Employee’s termination.

  • Termination upon Disability If this Agreement is terminated by either party as a result of the Executive’s disability, as determined under Section 6.2, the Employer will pay the Executive the Executive’s Salary in periodic installments according to the Employer’s customary payroll practices until six months after the date such termination is effective.

  • Disability of Optionee If the Optionee ceases to be a Service Provider as a result of the Optionee’s Disability, this Option may be exercised for a period of twelve (12) months after the date of such termination (but in no event later than the expiration date of this Option as set forth in the Notice of Grant) to the extent that the Option is vested on the date of such termination. To the extent that Optionee does not exercise this Option within the time specified herein, the Option shall terminate.

  • Disability of Participant If a Participant ceases to be a Service Provider as a result of the Participant’s Disability, the Participant may exercise his or her Option within 6 months of cessation, or such longer period of time as is specified in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement or Section 6(d), as applicable) to the extent the Option is vested on the date of cessation. Unless otherwise provided by the Administrator or set forth in the Award Agreement or other written agreement authorized by the Administrator between the Participant and the Company or any of its Subsidiaries or Parents, as applicable, if on the date of cessation the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan immediately. If after such cessation the Participant does not exercise his or her Option within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

  • Disability of Executive The Company may terminate this Agreement without liability if Executive shall be permanently prevented from properly performing his essential duties hereunder with reasonable accommodation by reason of illness or other physical or mental incapacity for a period of more than one hundred twenty 120 consecutive days. Upon such termination, Executive shall be entitled to all accrued but unpaid Base Salary and vacation.

  • Termination by Disability If the Executive becomes Disabled prior to the expiration of the Employment Term, the Executive’s employment will terminate, and provided that such termination constitutes a Separation from Service, the Executive shall be entitled to:

  • Disability of Employee a. Employee shall be considered disabled if, due to illness or injury, either physical or mental, Employee is unable to perform Employee's customary duties as an employee of Company for more than thirty (30) days in the aggregate out of a period of twelve (12)

  • Death or Disability of Executive Executive's employment -------------------------------- hereunder shall terminate immediately upon the death or Disability of Executive.

  • Termination upon Disability or Death If Executive’s employment shall terminate by reason of Executive’s Disability (pursuant to Section 14(a)(ii)) or death (pursuant to Section 14(a)(i)), the Company shall pay to Executive, in a lump sum cash payment as soon as practicable following the Date of Termination, all unpaid Annual Base Salary and Bonus previously earned for a performance period ending prior to the Date of Termination, but unpaid as of the Date of Termination, and the pro rata portion of their Bonus for such year (when and as paid to other senior executives of the Company) for the Performance Period in which the termination occurred. In the case of Disability, if there is a period of time during which Executive is not being paid Annual Base Salary and not receiving long-term disability insurance payments, the Company shall make interim payments equal to such unpaid disability insurance payments to Executive until commencement of disability insurance payments; provided that, to the extent required to avoid the tax consequences of Section 409A of the Code, as determined by independent tax counsel, the first payment shall cover all payments scheduled to be made to Executive during the first six (6) months after the date Executive’s employment terminates, and the first such payment shall be delayed until the day that is six (6) months after the date Executive’s employment terminates.

  • Termination by Virtue of Death or Disability of Executive (a) In the event of Executive’s death while employed pursuant to this Agreement, all obligations of the Parties hereunder shall terminate immediately, and the Company shall, pursuant to the Company’s standard payroll policies, pay to Executive’s legal representatives all Accrued Obligations.

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