Common use of Disability of the Optionee Clause in Contracts

Disability of the Optionee. If the Optionee’s Continuous Service shall cease due to disability, and the Optionee was in Continuous Service as an Employee, Director or Consultant from the Grant Date until the date of Termination of Service, the Option may be exercised at any time within 12 months following the date of Termination of Service, but only to the extent that the Optionee was entitled to exercise the Option at the time of Termination of Service, subject to the condition that no option shall be exercised after the expiration of the Term of the Option.

Appears in 4 contracts

Samples: New Employee Inducement Grant Stock Option Agreement (MoSys, Inc.), New Employee Inducement Grant Stock Option Agreement (MoSys, Inc.), New Employee Inducement Grant Stock Option Agreement (MoSys, Inc.)

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