Examples of Permanent Disability in a sentence
After the death or Permanent Disability of the Recipient, any exercisable portion of an Option or other Award may, prior to the time when such portion becomes unexercisable under this Plan or the applicable Award Agreement, be exercised by his personal representative or by any person empowered to do so under the deceased Recipient’s will or under the then applicable laws of descent and distribution.
During the lifetime of the Recipient, only he or she may exercise an Option or other Award (or any portion thereof) granted to him or her under this Plan, unless either the Recipient has a Permanent Disability or the Option or other Award has been disposed of with the consent of the Administering Body pursuant to a DRO.
In the event such Recipient’s relationship as a Service Provider with the Company or an Affiliated Entity terminates as a result of death or Permanent Disability, such Recipient’s then vested Awards shall not expire until the earlier of (1) the date on which such Awards would have expired in accordance with their terms had such Recipient remained a Service Provider and(2)the date that is six (6) months after the Recipient’s relationship as a Service Provider is terminated.