Effect on Options of Termination of Service for Disability Clause Example with 8 Variations from Business Contracts

Effect on Options of Termination of Service for Disability. Except as otherwise provided in a Participant's Option Agreement: (a) A Agreement, a Participant who ceases to be an Employee, employee, director or Consultant consultant of the Company or of an Affiliate by reason of Disability may exercise any Option granted to such Participant: (i) a. To the extent that the Option has become exercisable but has not been exercised on the date of the Participant's termination of service due to Disability; and (ii) b. In the event rights to exercise the Option a...ccrue periodically, to the extent of a pro rata portion through the date of the Participant's termination of service due to Disability of any additional vesting rights that would have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of days accrued in the current vesting period prior to the date of the Participant's termination of service due to Disability. (b) A Disabled Participant may exercise the Option such rights only within the period ending one year after the date of the Participant's termination of service due to Disability, employment, directorship or consultancy, as the case may be, notwithstanding that the Participant might have been able to exercise the Option as to some or all of the Shares on a later date if the Participant had not been terminated due to Disability become Disabled and had continued to be an Employee, employee, director or Consultant consultant or, if earlier, within the originally prescribed term of the Option. (c) The Administrator shall make the determination both of whether Disability has occurred and the date of its occurrence (unless a procedure for such determination is set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination). If requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost of which examination shall be paid for by the Company. 11 15. EFFECT ON OPTIONS OF DEATH WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT. Except as otherwise provided in a Participant's Option Agreement, in the event of the death of a Participant while the Participant is an employee, director or consultant of the Company or of an Affiliate, such Option may be exercised by the Participant's Survivors: a. To the extent that the Option has become exercisable but has not been exercised on the date of death; and b. In the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the date of death of any additional vesting rights that would have accrued on the next vesting date had the Participant not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Participant's date of death. If the Participant's Survivors wish to exercise the Option, they must take all necessary steps to exercise the Option within one year after the date of death of such Participant, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if he or she had not died and had continued to be an employee, director or consultant or, if earlier, within the originally prescribed term of the Option. View More

Effect on Options of Termination of Service for Disability. Except as otherwise provided in a Participant's Option Agreement: (a) A Agreement, a Participant who ceases to be an Employee, employee, director or Consultant consultant of the Company or of an Affiliate by reason of Disability may exercise any Option granted to such Participant: (i) a. To the extent that the Option has become exercisable but has not been exercised on the date of the Participant's termination of service due to Disability; and (ii) b. In the event rights to exercise the Option a...ccrue periodically, to the extent of a pro rata portion through the date of the Participant's termination of service due to Disability of any additional vesting rights that would have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of days accrued in the current vesting period prior to the date of the Participant's termination of service due to Disability. (b) A Disabled Participant may exercise the Option such rights only within the period ending one year after the date of the Participant's termination of service due to Disability, employment, directorship or consultancy, as the case may be, notwithstanding that the Participant might have been able to exercise the Option as to some or all of the Shares on a later date if the Participant had not been terminated due to Disability become Disabled and had continued to be an Employee, employee, director or Consultant consultant or, if earlier, within the originally prescribed term of the Option. (c) The Administrator shall make the determination both of whether Disability has occurred and the date of its occurrence (unless a procedure for such determination is set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination). If requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost of which examination shall be paid for by the Company. 10 15. EFFECT ON OPTIONS OF DEATH WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT. Except as otherwise provided in a Participant's Option Agreement, in the event of the death of a Participant while the Participant is an employee, director or consultant of the Company or of an Affiliate, such Option may be exercised by the Participant's Survivors: a. To the extent that the Option has become exercisable but has not been exercised on the date of death; and b. In the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the date of death of any additional vesting rights that would have accrued on the next vesting date had the Participant not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Participant's date of death. If the Participant's Survivors wish to exercise the Option, they must take all necessary steps to exercise the Option within one year after the date of death of such Participant, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if he or she had not died and had continued to be an employee, director or consultant or, if earlier, within the originally prescribed term of the Option. View More

Effect on Options of Termination of Service for Disability. Except as otherwise provided in a Participant's Option Agreement: (a) A Participant who ceases to be an Employee, director or Consultant of the Company or of an Affiliate by reason of Disability may exercise any Option granted to such Participant: (i) To the extent that the Option has become exercisable but has not been exercised on the date of the Participant's termination of service due to Disability; and (ii) In the event rights to exercise the Option accrue periodically, to the extent of a p...ro rata portion through the date of the Participant's termination of service due to Disability of any additional vesting rights that would have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of days accrued in the current vesting period prior to the date of the Participant's termination of service due to Disability. (b) A Disabled Participant may exercise the Option only within the period ending one year after the date of the Participant's termination of service due to Disability, notwithstanding that the Participant might have been able to exercise the Option as to some or all of the Shares on a later date if the Participant had not been terminated due to Disability and had continued to be an Employee, director or Consultant or, if earlier, within the originally prescribed term of the Option. For Options granted to California Participants, a Participant may exercise such rights for at least six (6) months from the date of termination of service due to Disability. (c) The Administrator shall make the determination both of whether Disability has occurred and the date of its occurrence (unless a procedure for such determination is set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination). If requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost of which examination shall be paid for by the Company. 10 16. EFFECT ON OPTIONS OF DEATH WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT. Except as otherwise provided in a Participant's Option Agreement: (a) In the event of the death of a Participant while the Participant is an Employee, director or Consultant of the Company or of an Affiliate, such Option may be exercised by the Participant's Survivors: (i) To the extent that the Option has become exercisable but has not been exercised on the date of death; and (ii) In the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the date of death of any additional vesting rights that would have accrued on the next vesting date had the Participant not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Participant's date of death. (b) If the Participant's Survivors wish to exercise the Option, they must take all necessary steps to exercise the Option within one year after the date of death of such Participant, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if he or she had not died and had continued to be an Employee, director or Consultant or, if earlier, within the originally prescribed term of the Option. For Options granted to California Participants, the Participant's Survivors must be allowed to take all necessary steps to exercise the Option for at least six (6) months from the date of death of such Participant. View More

Effect on Options of Termination of Service for Disability. Except as otherwise provided in a Participant's Option Agreement: (a) (i) A Participant who ceases to be an Employee, director or Consultant of the Company or of an Affiliate by reason of Disability may exercise any Option granted to such Participant: (i) To Participant to the extent that the Option has become exercisable but has not been exercised on the date of the Participant's termination of service due to Disability; and (ii) In the event rights to exercise the Option accrue periodically, t...o the extent of a pro rata portion through the date of the Participant's termination of service due to Disability of any additional vesting rights that would have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of days accrued in the current vesting period prior to the date of the Participant's termination of service due to Disability. (b) Disability; 7 (iii) A Disabled Participant may exercise the Option only within the period ending one year after the date of the Participant's termination of service due to Disability, notwithstanding that the Participant might have been able to exercise the Option as to some or all of the Shares on a later date if the Participant had not been terminated due to Disability and had continued to be an Employee, director or Consultant or, if earlier, within the originally prescribed term of the Option. (c) For Options granted to California Participants for so long as the Common Stock is not deemed a covered security pursuant to Section 18(b)(1) of the Securities Act, a Participant may exercise such rights for at least six (6) months from the date of termination of service due to Disability; and (iv) The Administrator shall make the determination both of whether Disability has occurred and the date of its occurrence (unless a procedure for such determination is set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination). If requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost of which examination shall be paid for by the Company. View More

Effect on Options of Termination of Service for Disability. Except as otherwise provided in a Participant's Option Agreement: (a) A Agreement, a Participant who ceases to be an Employee, employee, director or Consultant consultant of the Company or of an Affiliate by reason of Disability may exercise any Option granted to such Participant: (i) a. To the extent that the Option has become exercisable but has not been exercised on the date of the Participant's termination of service due to Disability; and (ii) b. In the event rights to exercise the Option a...ccrue periodically, to the extent of a pro rata portion through the date of the Participant's termination of service due to Disability of any additional vesting rights that would have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of days accrued in the current vesting period prior to the date of the Participant's termination of service due to Disability. (b) A Disabled Participant may exercise the Option such rights only within the period ending one year after the date of the Participant's termination of service due to Disability, employment, directorship or consultancy, as the case may be, notwithstanding that the Participant might have been able to exercise the Option as to some or all of the Shares on a later date if the Participant had not been terminated due to Disability become Disabled and had continued to be an Employee, employee, director or Consultant consultant or, if earlier, within the originally prescribed term of the Option. (c) 11 The Administrator shall make the determination both of whether Disability has occurred and the date of its occurrence (unless a procedure for such determination is set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination). If requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost of which examination shall be paid for by the Company. View More

Effect on Options of Termination of Service for Disability. Except as otherwise provided in a Participant's Option Agreement: Agreement or in any other agreement between a Participant and the Company or an Affiliate: (a) A Participant who ceases to be an Employee, director or Consultant of the Company or of an Affiliate by reason of Disability may exercise any Option granted to such Participant: (i) To the extent that the Option has become exercisable but has not been exercised on the date of the Participant's termination of service due to Disability; an...d (ii) In the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the date of the Participant's termination of service due to Disability of any additional vesting rights that would have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of days accrued in the current vesting period prior to the date of the Participant's termination of service due to Disability. (b) A Disabled Participant may exercise the Option only within the period ending one year after the date of the Participant's termination of service due to Disability, notwithstanding that the Participant might have been able to exercise the Option as to some or all of the Shares on a later date if the Participant had not been terminated due to Disability and had continued to be an Employee, director or Consultant or, if earlier, within the originally prescribed term of the Option. For Options granted to California Participants for so long as the Common Stock is not deemed a covered security pursuant to Section 18(b)(1) of the Securities Act, a Participant may exercise such rights for at least six (6) months from the date of termination of service due to Disability. (c) The Administrator shall make the determination both of whether Disability has occurred and the date of its occurrence (unless a procedure for such determination is set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination). If requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost of which examination shall be paid for by the Company. View More

Effect on Options of Termination of Service for Disability. Except as otherwise provided in a Participant's Option Agreement: (a) a. A Participant who ceases to be an Employee, director or Consultant of the Company or of an Affiliate by reason of Disability may exercise any Option granted to such Participant: (i) To the extent that the Option has become exercisable but has not been exercised on the date of the Participant's termination of service due to Disability; and (ii) In the event rights to exercise the Option accrue periodically, to the extent of ...a pro rata portion through the date of the Participant's termination of service due to Disability of any additional vesting rights that would have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of days accrued in the current vesting period prior to the date of the Participant's termination of service due to Disability. (b) b. A Disabled Participant may exercise the Option such rights only within the period ending one year after the date of the Participant's termination of service due to Disability, notwithstanding that the 16 Participant might have been able to exercise the Option as to some or all of the Shares on a later date if the Participant had not been terminated due to Disability become Disabled and had continued to be an Employee, director or Consultant or, if earlier, within the originally prescribed term of the Option. (c) c. The Administrator shall make the determination both of whether Disability has occurred and the date of its occurrence (unless a procedure for such determination is set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination). If requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost of which examination shall be paid for by the Company. View More

Effect on Options of Termination of Service for Disability. Except as otherwise provided in a Participant's Option Agreement: (a) a. A Participant who ceases to be an Employee, employee, director or Consultant consultant of the Company or of an Affiliate by reason of Disability may exercise any Option granted to such Participant: (i) To the extent that the Option has become exercisable but has not been exercised on the date of the Participant's termination of service due to Disability; and (ii) In the event rights to exercise the Option accrue periodical...ly, to the extent of a pro rata portion through the date of the Participant's termination of service due to Disability of any additional vesting rights that would have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of days accrued in the current vesting period prior to the date of the Participant's termination of service due to Disability. (b) b. A Disabled Participant may exercise the Option such rights only within the period ending one year after the date of the Participant's termination of service due to Disability, notwithstanding that the Participant might have been able to exercise the Option as to some or all of the Shares on a later date if the Participant had not been terminated due to Disability become Disabled and had continued to be an Employee, employee, director or Consultant consultant or, if earlier, within the originally prescribed term of the Option. (c) c. The Administrator shall make the determination both of whether Disability has occurred and the date of its occurrence (unless a procedure for such determination is set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination). If requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost of which examination shall be paid for by the Company. View More