Common use of Termination of Employment by Reason of Disability Clause in Contracts

Termination of Employment by Reason of Disability. If Optionee's ------------------------------------------------- employment with the Company and/or any Subsidiary terminates by reason of Disability, then the Option shall immediately become exercisable in full (notwithstanding Section 2 above), and the Option may thereafter be exercised, in whole or in part, for a period of three (3) years from the date of such termination of employment or until the expiration of the Option Term, whichever period is the shorter; and if Optionee dies within such period, any unexercised Option held by Optionee shall thereafter be exercisable, in whole or in part, for the remainder of such period.

Appears in 8 contracts

Samples: Non Qualified Stock Option Agreement (Alabama National Bancorporation), Non Qualified Stock Option Agreement (Alabama National Bancorporation), Non Qualified Stock Option Agreement (Alabama National Bancorporation)

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Termination of Employment by Reason of Disability. If Optionee's ------------------------------------------------- employment with the Company and/or any Subsidiary terminates by reason of Disability, then the Option shall immediately become exercisable in full (notwithstanding Section 2 above), and the Option may thereafter be exercised, in whole or in part, for a period of three one (31) years year from the date of such termination of employment or until the expiration of the Option Term, whichever period is the shorter; and if Optionee dies within such period, any unexercised Option held by Optionee shall thereafter be exercisable, in whole or in part, for the remainder of such period.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Computer Programs & Systems Inc)

Termination of Employment by Reason of Disability. If Optionee's ------------------------------------------------- ’s employment with the Company and/or any Subsidiary terminates by reason of Disability, then the Option shall immediately become exercisable in full (notwithstanding Section 2 above), and the Option may thereafter be exercised, in whole or in part, for a period of three one (31) years year from the date of such termination of employment or until the expiration of the Option Term, whichever period is the shorter; and if Optionee dies within such period, any unexercised Option held by Optionee shall thereafter be exercisable, in whole or in part, for the remainder of such period.

Appears in 1 contract

Samples: Qualified Stock Option Agreement (Computer Programs & Systems Inc)

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Termination of Employment by Reason of Disability. If Optionee's ------------------------------------------------- ’s employment with the Company and/or any Subsidiary terminates by reason of Disability, then the Option shall immediately become exercisable in full (notwithstanding Section 2 above), and the Option may thereafter be exercised, in whole or in part, for a period of three (3) years from the date of such termination of employment or until the expiration of the Option Term, whichever period is the shorter; and if Optionee dies within such period, any unexercised Option held by Optionee shall thereafter be exercisable, in whole or in part, for the remainder of such period.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Alabama National Bancorporation)

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