Common use of Termination as a Result of Disability Clause in Contracts

Termination as a Result of Disability. If your employment or service with the Company terminates by reason of your disability, as defined in the Company’s long-term disability plan covering exempt salaried employees (a “Disability”), at a time when your employment or service could not otherwise have been terminated for Cause, then you may exercise this Option until the earlier of: (i) the Expiration Date, or (ii) the date that is twelve (12) months after the date of such termination of your employment or service by reason of your Disability.

Appears in 2 contracts

Sources: Share Option Award Agreement (OXBRIDGE RE HOLDINGS LTD), Share Option Award Agreement (OXBRIDGE RE HOLDINGS LTD)