Termination by Reason of Retirement or Disability. If Grantee's employment by the Cardinal Group terminates by reason of retirement or disability (each as defined in the Plan) prior to the Grant Vesting Date, then, unless otherwise determined by the Committee within 60 days of such retirement or disability, a Ratable Portion of the Option shall vest upon and become exercisable in full from and after the later of (x) the 60th day after such termination of employment and (y) the Grant Vesting Date. Such Ratable Portion shall be an amount equal to the number of Shares the subject of the Option, multiplied by a fraction the numerator of which shall be the number of days from the Grant Date through the date of such termination, and the denominator of which shall be the number of days from the Grant Date through the Grant Vesting Date. The Option, to the extent vested, may be exercised after the Grant Vesting Date by Grantee (or any transferee, if applicable) until the earlier of the fifth anniversary of the date of such retirement or disability or the Grant Expiration Date (the "Exercise Period"). If Grantee has at least 15 years of service with the Cardinal Group at the time of retirement, the Option may be exercised after the Grant Vesting Date by Grantee (or any transferee, if applicable) until the Grant Expiration Date. Notwithstanding the foregoing, if Grantee dies after retirement or disability but before the expiration of the Exercise Period, unless otherwise determined by the Committee within 60 days of such death, the Ratable Portion of the Option shall vest upon the 60th day after such death, and the Option may be exercised by any transferee of the Option, if applicable, or by the legal representative of the estate or by the legatee of Grantee under the will of Grantee from and after the 60th day after such death, for a period of one year (or such other period as the Committee may specify at or after grant or death) from the date of death or until the expiration of the Exercise Period, whichever period is shorter.
Termination by Reason of Retirement or Disability. If the Director shall cease to be a director of the Corporation by reason of retirement or Disability (as that term is defined under the Corporation's long-term disability insurance policy) without meeting the requirements of section 6(a) above, this Option may thereafter be exercised by the Director, to the extent it was exercisable at the time of such cessation, for a period of one year from the date of such cessation or until the expiration of the stated term of the Option, whichever period is shorter; provided, however, that if the Director dies within such one-year period, the Option shall thereafter be exercisable to the extent to which it was exercisable at the time of death for a period of three years from the date of such death or until the expiration of the stated term of the Option, whichever period is shorter.
Termination by Reason of Retirement or Disability. If the Optionee’s employment by the Company terminates by reason of Retirement or Disability, the Option may thereafter be exercised by the Optionee, to the extent it was exercisable at the time of termination, for a period of three years from the date of such termination of employment or until 3
Termination by Reason of Retirement or Disability. If the Grantee's employment by the Cardinal Group terminates by reason of retirement or disability (each as defined in the Plan), then, unless otherwise determined by the Committee within sixty days of such retirement or disability, any unvested portion of the Option will vest in accordance with the terms indicated on the first page of this agreement and may thereafter be exercised by the Grantee (or any transferee, if applicable) until the earlier of (the "Exercise Period") the fifth anniversary of the date of such retirement or disability or the expiration of the stated term of the Option; provided, that any vesting that would otherwise occur during the sixty-day period beginning immediately after such retirement or disability shall not occur until the end of such sixty-day period. If the Grantee has at least fifteen years of service with the Cardinal Group at the time of retirement, the Option may thereafter be exercised by the Grantee (or any transferee, if applicable) until the expiration of the stated term of the Option. Notwithstanding the foregoing, if the Grantee dies after retirement or disability but before the expiration of the Exercise Period, unless otherwise determined by the Committee within 60 days of such death, any unvested portion of the Option shall vest upon, and the Option may be exercised by any transferee of the Option, if applicable, or by the legal representative of the estate or by the legatee of the Grantee under the will of the Grantee from and after, the sixtieth day after such death for a period of one year (or such other period as the Committee may specify at or after grant or death) from the date of death or until the expiration of the Exercise Period, whichever period is shorter.
Termination by Reason of Retirement or Disability. If the Optionee's employment by the Company terminates by reason of Retirement or Disability, the Option may thereafter be exercised by the Optionee, to the extent it was exercisable at the time of termination, for a period of three years from the date of such termination of employment or until the expiration of the stated term of the Option, whichever period is the shorter; provided, however, that if the Optionee dies within the applicable period specified above, any unexercised portion of the Option shall thereafter be exercisable to the extent to which the Option was exercisable at the time of death for a period of twelve months from the date of such death, or until the expiration of the stated term of the Option, whichever period is shorter.
Termination by Reason of Retirement or Disability. If the Optionee's employment by the Company terminates by reason of Retirement or Disability, the Option may thereafter be exercised by the Optionee, to the extent it was exercisable at the time of termination, for a period of three months (in the case of termination by reason of Retirement) or one year (in the case of termination by reason of Disability) from the date of such termination of employment or until the expiration of the stated term of the Option, whichever period is the shorter. If the Option is exercised after the expiration of the exercise period applicable to the Option, but before the expiration of the period that would apply if such Option were a Non-Qualified Stock Option, the Option will thereafter be treated as a Non-Qualified Stock Option.
Termination by Reason of Retirement or Disability. If Grantee's employment by the Cardinal Group terminates prior to the Grant Vesting Date by reason of retirement or disability (each as defined in the Plan), then, unless otherwise determined by the
Termination by Reason of Retirement or Disability. If the Grantee's employment by the Cardinal Group terminates by reason of retirement (as defined in the Plan) or Disability (as defined in the Employment Agreement between the Grantee and the Company dated as of November 20, 2001 (the "Employment Agreement")), then any unvested portion of the Option will vest in accordance with the terms indicated on the first page of this agreement and may thereafter be exercised by the Grantee (or any transferee, if applicable) until the expiration of the stated term of the Option (the "Exercise Period"). Notwithstanding the foregoing, if the Grantee dies after retirement or Disability but before the expiration of the Exercise Period, any unvested portion of the Option shall immediately vest and the Option may be exercised by any transferee of the Option, if applicable, or by the legal representative of the estate or by the legatee of the Grantee under the will of the Grantee until the expiration of the Exercise Period.
Termination by Reason of Retirement or Disability. If the Optionee’s employment by the Company terminates by reason of Retirement or Disability, the Option may thereafter be exercised by the Optionee, to the extent it was exercisable at the time of termination, for a period of three years from the date of such termination of employment or until the expiration of the stated term of the Option, whichever period is the shorter; provided, however, that if the Optionee dies within the applicable period specified above following termination of the Optionee’s employment with the Company by reason of Retirement or Disability, any unexercised portion of the Option shall thereafter be exercisable to the extent to which the Option was exercisable at the time of death for a period of one year from the date of such death or until the expiration of the stated term of the Option, whichever period is shorter.
Termination by Reason of Retirement or Disability. If Grantee's employment by the Cardinal Group terminates by reason of Disability (as defined in the Employment Agreement between Grantee and the Company dated February 1, 2004 (the "Employment Agreement")), then any unvested portion of the SAR will continue to vest following Disability in accordance with the timetable indicated on the first page of this agreement and may thereafter be exercised by Grantee (or any transferee, if applicable) until the Grant Expiration Date. Notwithstanding the foregoing, if Grantee dies after Disability but before the Grant Expiration Date, the SAR, if not already vested, shall immediately vest and the SAR may be exercised by any transferee of the SAR, if applicable, or by the legal representative of the estate or by the legatee of Grantee under the will of Grantee until the Grant Expiration Date. For purposes of the treatment of the SAR in connection with and following Grantee's retirement, the consequences of Grantee's retirement applicable to Grantee's stock options pursuant to Section 5(d) of the Employment Agreement shall apply to the SAR granted hereunder as though the SAR were a stock option for purposes of Section 5(d) of the Employment Agreement.
