Disability of Optionee. If Optionee ceases to be employed by, or in a service relationship with, the Corporation as a result of Optionee’s Disability, (i) the unvested Options shall terminate immediately upon such cessation, and (ii) the vested Options shall remain exercisable during the one-year period following such cessation, but in no event after the Expiration Date. Unless sooner terminated, any unexercised vested Options shall terminate upon the expiration of such one-year period.
Appears in 13 contracts
Samples: 2010 Share Incentive Plan (Wordlogic Corp), Non Qualified Stock Option Grant Agreement (Fero Industries, Inc.), Sample Non Qualified Stock Option Grant Agreement (Friendly Energy Exploration)
Disability of Optionee. If Optionee ceases to be employed by, or in a service relationship with, the Corporation Bank as a result of Optionee’s Disability, (i) the unvested Options shall terminate immediately upon such cessation, and (ii) the vested Options shall remain exercisable during the one-year period following such cessation, but in no event after the Expiration Date. Unless sooner terminated, any unexercised vested Options shall terminate upon the expiration of such one-year period.
Appears in 6 contracts
Samples: Sample Qualified Stock Option Grant Agreement (Friendly Energy Exploration), Sample Qualified Stock Option Grant Agreement (Nitro Petroleum Inc.), Share Incentive Plan (Wordlogic Corp)
Disability of Optionee. If Optionee ceases to be employed by, or in a service relationship with, the Corporation Company or any Affiliate as a result of Optionee’s Disability, (i) the unvested Options shall terminate vest immediately upon such cessation, and (ii) the vested Options shall remain exercisable during the 3-month period following such cessation (or the one-year period following such cessation, if the Optionee is disabled within the meaning of Section 22(e)(3) of the Code), but in no event after the Expiration Date. Unless sooner terminated, any unexercised vested Options shall terminate upon the expiration of such one-year period.
Appears in 1 contract
Samples: Incentive Stock Option Grant Agreement (Mechanical Technology Inc)
