Rights in the Event of Disability. If the Optionee terminates employment or other relationship with the Company or any of its Affiliates by reason of the “permanent and total disability” (within the meaning of Section 22(e)(3) of the Code) of the Optionee, then such Optionee shall have the right, at any time within 180 days after such termination of employment or other relationship and prior to termination of the Option pursuant to Section 6(a) above, to exercise, in whole or in part, the Option held by such Optionee at the date of such termination of employment or other relationship, whether or not such Option was exercisable immediately prior to such termination of employment or other relationship. Whether a termination of employment or other relationship is to be considered by reason of “permanent and total disability” for purposes of this Stock Option Agreement shall be determined by the Committee, which determination shall be final and conclusive.
Appears in 1 contract
Sources: Non Incentive Stock Option Agreement (LCC International Inc)
Rights in the Event of Disability. If the Optionee terminates Optionee's employment or other relationship with the Company or any of its Affiliates affiliates is terminated by reason of the “"permanent and total disability” " (within the meaning of Section 22(e)(3) of the Code) of the Optionee, then such Optionee shall have the right, at any time within 180 days one year after such termination of employment or other relationship and prior to termination of the Option pursuant to Section 6(a) 5.1 above, to exercise, in whole or in part, the Option held by such Optionee at the date of such termination of employment or other relationship, whether or not such Option was exercisable immediately prior to such termination of employment or other relationship. Whether a termination of employment or other relationship is to be considered by reason of “"permanent and total disability” " for purposes of this Stock Option Agreement shall be determined by the Committee, which determination shall be final and conclusive.
Appears in 1 contract