Common use of Disability of Participant Clause in Contracts

Disability of Participant. If the Participant’s Continuous Service terminates as a result of the Participant’s Disability, the Participant may exercise the portion of the Option that was Vested on the date of such termination of Continuous Service within three months commencing on the date of termination of Continuous Service (but in no event later than the Expiration Date). To the extent that the Option was unvested on the date of termination of Continuous Service, or if the Vested portion of the Option is not exercised within the time specified herein, the Option shall terminate.

Appears in 4 contracts

Samples: Stock Option Award Agreement (CytoDyn Inc.), Stock Option Award Agreement (Cytodyn Inc), Option Award Agreement (Cytodyn Inc)

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Disability of Participant. If the Participant’s 's Continuous Service terminates as a result of the Participant’s 's Disability, the Participant may exercise the portion of the Option that was Vested on the date of such termination of Continuous Service within three months during the period commencing on the date of termination of Continuous Service and continuing for three months thereafter (but in no event later than the Expiration Date). To the extent that the Option was unvested not Vested on the date of termination of Continuous Service, or if the Vested portion of the Option is not exercised within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Incentive Plan Stock Option Award Agreement (CytoDyn Inc.)

Disability of Participant. If the Participant’s Continuous Service terminates as a result of the Participant’s Disability, the Participant may exercise the portion of the Option that was Vested on the date of such termination of Continuous Service within three months during the period commencing on the date of termination of Continuous Service and continuing for three months thereafter (but in no event later than the Expiration Date). To the extent that the Option was unvested not Vested on the date of termination of Continuous Service, or if the Vested portion of the Option is not exercised within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Award Agreement (CytoDyn Inc.)

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Disability of Participant. If the Participant’s 's Continuous Service terminates as a result of the Participant’s 's Disability, the Participant may exercise the portion of the Option that was Vested on the date of such termination of Continuous Service within three months commencing on the date of termination of Continuous Service (but in no event later than the Expiration Date). To the extent that the Option was unvested on the date of termination of Continuous Service, or if the Vested portion of the Option is not exercised within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Award Agreement (CytoDyn Inc.)

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