Common use of Disability of Optionee Clause in Contracts

Disability of Optionee. In the event of termination of Optionee’s Continuous Status as an Employee as a result of Optionee’s total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised), but only until the earlier of (i) the date two (2) years after the date of termination of employment or (ii) the date of expiration of the term of this Option as set forth in Section 8 below. To the extent the Optionee does not exercise this Option within the time period specified herein, this Option shall terminate.

Appears in 8 contracts

Samples: Non Qualified Stock Option Agreement (Encore Acquisition Co), Encore Acquisition Company Incentive Stock Option Agreement (Encore Acquisition Co), Nqso Agreement (Encore Acquisition Co)

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Disability of Optionee. In Notwithstanding the provisions of Section 7 above, in the event of termination of Optionee’s 's Continuous Status as an Employee or Consultant terminates as a result of Optionee’s total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)may, but only until the earlier of within twelve (i12) the date two (2) years after months from the date of termination of employment or consultancy (ii) but in no event later than the date of expiration of the term of this Option as set forth in Section 8 11 below), exercise the Option to the extent otherwise so entitled at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise this such Option (to the extent otherwise so entitled) within the time period specified herein, this the Option shall terminate.

Appears in 4 contracts

Samples: Corporation Stock Option Agreement (Spectrian Corp /Ca/), Stock Option Agreement (Spectrian Corp /Ca/), Corporation Stock Option Agreement (Spectrian Corp /Ca/)

Disability of Optionee. In (i) Notwithstanding the provisions of Section 5 above, in the event of termination of Optionee’s Continuous Status as an Employee employment or service with the Company as a result of Optionee’s total and permanent disability (as defined in Section 22(e)(3) of the Code)Disability, Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)may, but only until the earlier of within twelve (i12) the date two (2) years after months from the date of such termination of employment or (ii) but in no event later than the expiration date of expiration of the term of this such Option as set forth in Section 8 9 below), exercise the Option to the extent otherwise entitled to exercise it at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of such termination, or if Optionee does not exercise this the Option within the time period specified herein, this the Option shall terminate.

Appears in 3 contracts

Samples: Stock Option Agreement (Openwave Systems Inc), Stock Option Agreement (Openwave Systems Inc), Stock Option Agreement (Openwave Systems Inc)

Disability of Optionee. In Notwithstanding the provisions of Section 6 above, in the event of termination of Optionee’s Continuous Status 's continuous status as an Employee employee of the Company as a result of Optionee’s total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)may, but only until the earlier of within six (i6) the date two (2) years after months from the date of termination of employment or (ii) but in no event later than the date of expiration of the term of this Option as set forth in Section 8 10 below), exercise the Option to the extent otherwise so entitled at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise this such Option (to the extent otherwise so entitled) within the time period specified herein, this the Option shall terminate.

Appears in 3 contracts

Samples: Employee Stock Option Agreement (Auspex Systems Inc), Employee Stock Option Agreement (Auspex Systems Inc), Employee Stock Option Agreement (Auspex Systems Inc)

Disability of Optionee. In Notwithstanding the provisions of Section 8 above, in the event of the termination of Optionee’s Continuous Status continuous status as an Employee employee as a result of Optionee’s his or her total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)he or she may, but only until the earlier of within six (i6) the date two (2) years months after the date of such termination of employment or (ii) but in no event later than the date of expiration of the term of this Option option as set forth in Section 8 below5), exercise this option to the extent that he or she was entitled to exercise it at the date of such termination. To the extent not exercisable at the Optionee does date of such termination, and to the extent not exercise this Option so exercised within the time period specified herein, this Option the option shall terminate.

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (Vcampus Corp), Incentive Stock Option Agreement (Vcampus Corp)

Disability of Optionee. In Notwithstanding the provisions of Section 6 above, in the event of termination of Optionee’s Continuous Status 's status as an Employee as a result of Optionee’s total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)may, but only until the earlier of within twelve (i12) the date two (2) years after months from the date of termination of employment or (ii) but in no event later than the date of expiration of the term of this Option as set forth in Section 8 10 below), exercise the Option to the extent otherwise so entitled at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise this such Option (to the extent otherwise so entitled) within the time period specified herein, this the Option shall terminate.

Appears in 2 contracts

Samples: Vacu Dry Co, Accuimage Diagnostics Corp

Disability of Optionee. In Notwithstanding the provisions of Section 6 above, in the event of termination of Optionee’s Continuous Status as an Employee or Consultant as a result of Optionee’s total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)may, but only until the earlier of within six (i6) the date two (2) years after months from the date of termination of employment or (ii) but in no event later than the date of expiration of the term of this Option as set forth in Section 8 10 below), exercise the Option to the extent otherwise so entitled at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise this such Option (to the extent otherwise so entitled) within the time period specified hereinin this Agreement, this the Option shall terminate.

Appears in 2 contracts

Samples: Stock Option Agreement (Brio Software Inc), Stock Option Agreement (Brio Software Inc)

Disability of Optionee. In Notwithstanding the provisions of Section 7 above, in the event of termination of Optionee’s 's Continuous Status as an Employee or Consultant terminates as a result of Optionee’s total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)may, but only until the earlier of within six (i6) the date two (2) years after months from the date of termination of employment or consultancy (ii) but in no event later than the date of expiration of the term of this Option as set forth in Section 8 11 below), exercise the Option to the extent otherwise so entitled at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise this such Option (to the extent otherwise so entitled) within the time period specified herein, this the Option shall terminate.

Appears in 2 contracts

Samples: Stock Option Agreement (Cadence Design Systems Inc), Stock Option Agreement (Adaptec Inc)

Disability of Optionee. In Notwithstanding the provisions of Section 6 above, in the event of termination of Optionee’s 's Continuous Status as an Employee or Consultant as a result of Optionee’s total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)may, but only until the earlier of within twelve (i12) the date two (2) years after months from the date of termination of employment or (ii) but in no event later than the date of expiration of the term of this Option as set forth in Section 8 10 below), exercise the Option to the extent otherwise so entitled at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise this such Option (to the extent otherwise so entitled) within the time period specified herein, this the Option shall terminate.

Appears in 2 contracts

Samples: Earthshell Container (Earthshell Container Corp), Diva Systems Corp

Disability of Optionee. In the event of termination of Optionee’s Continuous Status as an Employee as a result of Optionee’s total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised), but only until the earlier of (i) the date two (2) years after the date of termination of employment or (ii) the date of expiration of the term of this Option as set forth in Section 8 9 below. To the extent the Optionee does not exercise this Option within the time period specified herein, this Option shall terminate.

Appears in 2 contracts

Samples: Encore Acquisition Company Non Qualified Stock Option Agreement (Encore Acquisition Co), Encore Acquisition Company Incentive Stock Option Agreement (Encore Acquisition Co)

Disability of Optionee. In Notwithstanding the provisions of Section 6 above, in the event of termination of Optionee’s 's Continuous Status as an Employee or Consultant as a result of Optionee’s total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)may, but only until the earlier of within six (i6) the date two (2) years after months from the date of termination of employment or (ii) but in no event later than the date of expiration of the term of this Option as set forth in Section 8 10 below), exercise the Option to the extent otherwise so entitled at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise this such Option (to the extent otherwise so entitled) within the time period specified hereinin this Agreement, this the Option shall terminate.

Appears in 2 contracts

Samples: Stock Option Agreement (Angiotech Pharmaceuticals Inc), Stock Option Agreement (Vertel Corp)

Disability of Optionee. In Notwithstanding the provisions of Section 8 above, in the event of the termination of Optionee’s Continuous Status 's continuous status as an Employee employee as a result of Optionee’s his or her total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)he or she may, but only until the earlier of within six (i6) the date two (2) years months after the date of such termination of employment or (ii) but in no event later than the date of expiration of the term of this Option option as set forth in Section 8 below5), exercise this option to the extent that he or she was entitled to exercise it at the date of such termination. To the extent not exercisable at the Optionee does date of such termination, and to the extent not exercise this Option so exercised within the time period specified herein, this Option the option shall terminate.

Appears in 1 contract

Samples: Restricted Stock Purchase Agreement (Vcampus Corp)

Disability of Optionee. In Notwithstanding the provisions of Section 7 above, in the event of termination of Optionee’s 's Continuous Status as an Employee as a result of Optionee’s his total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)he may, but only until the earlier of (i) the date two (2) years after within six months from the date of termination of employment or (ii) but in no event later than the date of expiration of the term of this Option as set forth in Section 8 12 below), exercise his Option to the extent he was entitled to exercise it at the date of such termination. To the extent that he was not entitled to exercise the Optionee Option at the date of termination, or if he does not exercise this such Option (which he was entitled to exercise) within the time period specified herein, this the Option shall terminate.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Finisar Corp)

Disability of Optionee. In (i) Notwithstanding the provisions of Section 6 above, in the event of termination of Optionee’s 's Continuous Status as an Employee as a result of Optionee’s his total and permanent disability Optionee may, but only within twelve (as defined 12) months from the date of such termination (but in Section 22(e)(3) of no event later than the CodeExpiration Date), Optionee may exercise this the Option with respect to all Shares subject to this Option (to the extent not previously exercised), but only until the earlier of (i) the date two (2) years after otherwise entitled to exercise it at the date of termination of employment or (ii) the date of expiration of the term of this Option as set forth in Section 8 belowsuch termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise this such Option to the extent so entitled within the time period specified herein, this the Option shall terminate.

Appears in 1 contract

Samples: Option Agreement (Openwave Systems Inc)

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Disability of Optionee. In Notwithstanding the provisions of Section 6 above, in the event of termination of the Optionee’s Continuous Status continuous status as an Employee of the Company, its Parent, or a Subsidiary as a result of Optionee’s total and permanent disability (as defined in Section 22(e)(3) of Disability, the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)may, but only until within twelve (12) months from the earlier of Termination Date due to Disability (i) the date two (2) years after the date of termination of employment or (ii) but in no event later than the date of expiration of the term of this Option as set forth in Section 8 10 below), exercise the Option to the extent otherwise so entitled at the Termination Date. To the extent that the Optionee was not entitled to exercise the Option at the Termination Date, or if the Optionee does not exercise this such Option (to the extent otherwise so entitled) within the time period specified hereinin this Agreement, this the Option shall terminate.

Appears in 1 contract

Samples: Vaughan Foods, Inc.

Disability of Optionee. In Notwithstanding the provisions of Section 6 above, in the event of termination of Optionee’s 's consulting relationship or Continuous Status as an Employee as a result of Optionee’s total and permanent disability (as defined in Section 22(e)(3) of the Code)disability, Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)may, but only until the earlier of within six (i6) the date two (2) years after months from the date of termination of employment or (ii) but in no event later than the date of expiration of the term of this Option as set forth in Section 8 10 below), exercise the Option to the extent otherwise so entitled at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise this such Option (to the extent otherwise so entitled) within the time period specified herein, this the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Agreement (Ribogene Inc / Ca/)

Disability of Optionee. In Notwithstanding the provisions of Section F above, in the event of termination of Optionee’s 's Continuous Status as an Employee or Consultant as a result of Optionee’s total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)may, but only until the earlier of within twelve (i12) the date two (2) years after months from the date of termination of employment or (ii) but in no event later than the date of expiration of the term of this Option as set forth in Section 8 J below), exercise the Option to the extent otherwise so entitled at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise this such Option (to the extent otherwise so entitled) within the time period specified herein, this the Option shall terminate.

Appears in 1 contract

Samples: Applied Micro Circuits Corp

Disability of Optionee. In Notwithstanding the provisions of Section 7 above, in the event of termination of Optionee’s 's Continuous Status as an Employee as a result of Optionee’s total and permanent disability (as defined in Section 22(e)(3) of his disability, the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)may, but only until the earlier of within ninety (i90) the date two (2) years after days from the date of termination of employment or (ii) but in no event later than the date of expiration of the term of this Option as set forth in Section 8 11 below), exercise this Option to the extent exercisable at the date of such termination. To the extent that the Option was not exercisable at the date of termination, or if the Optionee does not exercise this such Option within the time period specified herein, this the Option shall terminate.

Appears in 1 contract

Samples: Nonstatutory Stock Option Agreement (Lightspan Partnership Inc)

Disability of Optionee. (a) In the event of termination of an Optionee’s Continuous Status as an Employee or Consultant as a result of Optionee’s total and permanent disability his or her disability, Optionee may, at any time within the six (as defined 6) months following the date of such termination (but in Section 22(e)(3no event later than ten (10) years from the Date of Grant set forth in the Codeapplicable written option agreement), Optionee may exercise this the Option with respect to all Shares subject to this Option (to the extent not previously exercised), but only until the earlier of (i) the date two (2) years after otherwise entitled to exercise it at the date of termination of employment or (ii) the date of expiration of the term of this Option as set forth in Section 8 belowsuch termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise this such Option to the extent so entitled within the time period specified herein, this the Option shall will terminate.

Appears in 1 contract

Samples: Stock Option Agreement (Alpha Teknova, Inc.)

Disability of Optionee. In Notwithstanding the provisions of Section 5 above, in the event of termination of Optionee’s 's Continuous Status as an Employee as a result of Optionee’s total and permanent disability his or her Disability (as defined in Section 22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)may, but only until the earlier of within twelve (i12) the date two (2) years after months from the date of termination of employment or (ii) but in no event later than the date of expiration of the term of this Option as set forth in Section 8 9 below), exercise the Option to the extent otherwise so entitled at the date of such termination. To the extent that Optionee was not entitled to exercise the Option as of the date of termination, or if Optionee does not exercise this Option such option (to the extent otherwise so entitled) within the time period specified herein, this the Option shall terminate. 7.

Appears in 1 contract

Samples: Employee Stock Option Plan Stock Agreement (Kara International Inc)

Disability of Optionee. In the event of termination of Optionee’s Continuous Status 's continuous status as an Employee employee or consultant of the Company or a subsidiary of the Company as a result of Optionee’s total and permanent 's disability (as defined in within the meaning of Section 22(e)(3) of the Code) ("Disability"), Optionee may exercise this Option with respect to all Shares subject to this Option may be exercised for a period of twelve (to the extent not previously exercised), but only until the earlier of (i12) the date two (2) years months after the date of such termination of employment or (ii) but in no event later than the expiration date of expiration of the term of this Option as set forth in Section 8 below4 above) to the extent that the Option is vested on the date of such termination. To the extent the that Optionee does not exercise this Option within the time period specified herein, this the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Agreement (Zindart LTD)

Disability of Optionee. In Notwithstanding the provisions of Section 6 above, in the event of termination of Optionee’s Continuous Status as an Employee as a result of Optionee’s total and permanent disability (as defined in Section 22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this Option (to the extent not previously exercised)may, but only until the earlier of within twelve (i12) the date two (2) years after months from the date of termination of employment or (ii) but in no event later than the date of expiration of the term of this Option as set forth in Section 8 10 below), exercise the Option to the extent otherwise so entitled at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does not exercise this such Option (to the extent otherwise so entitled) within the time period specified herein, this the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Agreement (Symantec Corp)

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