Vesting on Death or Disability Sample Clauses


VESTING ON DEATH OR DISABILITY. Upon any termination of the Period of Employment and Executives employment hereunder by reason of Executives death or Permanent Disability, as defined in Section 6(a) (Death or Disability Definition of Permanently Disabled and Permanent Disability), any then-outstanding and otherwise unvested stock options, restricted stock and any other equity or equity-based awards granted by the Company to the Executive shall thereupon automatically be deemed vested and remain exercisable for the lesser of three years or the term of the award, notwithstanding any other provision of this Agreement or applicable plans.


VESTING ON DEATH OR DISABILITY. Notwithstanding anything in Paragraph 7 to the contrary, if a Grantees termination of employment is by reason of the death or permanent and total disability (within the meaning of Section 22(e)(3) of the Code) of the Grantee, all Shares held by the Grantee at the time of such termination shall become immediately vested as provided in Section 13 of the Plan.