Common use of Acceleration of Option Clause in Contracts

Acceleration of Option. The Option granted hereby shall become immediately exercisable in full in the event of (i) a Change of Control, (ii) the Optionee’s permanent and total disability if the Optionee becomes permanently and totally disabled while an employee of the Company or one of its Subsidiaries, or (iii) the death of the Optionee if such death occurs while the Optionee is employed by the Company or one of its Subsidiaries.

Appears in 2 contracts

Sources: Non Qualified Stock Option Agreement (Aviall Inc), Incentive Stock Option Agreement (Aviall Inc)

Acceleration of Option. The Notwithstanding Section 3 hereof, the Option granted hereby shall become immediately exercisable in full in the event of (ia) a Change of in Control, (iib) the death of the Optionee if such death occurs while the Optionee is a member of the Board or (c) the Optionee’s permanent and total disability if the Optionee becomes permanently and totally disabled while an employee of the Company or one of its Subsidiaries, or (iii) the death of the Optionee if such death occurs while the Optionee is employed by a member of the Company or one of its SubsidiariesBoard.

Appears in 1 contract

Sources: Nonqualified Stock Option Agreement (Alderwoods Group Inc)

Acceleration of Option. The Option granted hereby shall become immediately exercisable in full in the event of (ia) a Change of in Control, (iib) the Optionee’s 's permanent and total disability if the Optionee becomes permanently and totally disabled while an employee of the Company or one of its Subsidiaries, or (iiic) the death of the Optionee if such death occurs while the Optionee is employed by the Company or one of its Subsidiaries.

Appears in 1 contract

Sources: Nonqualified Stock Option Agreement (FTD Com Inc)

Acceleration of Option. The Option granted hereby shall become immediately exercisable in full in the event of (i) a Change of Control, (ii) the Optionee’s permanent and total disability if the Optionee becomes permanently and totally disabled while an employee of serving on the Company or one of its Subsidiaries, or Board (iii) the death of the Optionee if such death occurs while the Optionee is employed by serving on the Company Board or one (iv) the termination of its Subsidiariesthe Optionee’s service on the Board after having attained age 65.

Appears in 1 contract

Sources: Non Employee Director Stock Option Agreement (Aviall Inc)