Common use of Death of Optionee Clause in Contracts

Death of Optionee. In the event of the death of Optionee during the term of this Agreement and while he is employed by the Company (or a subsidiary), or within three (3) months after the termination of his employment (or one (l) year in the case of the termination of employment of an Optionee who is disabled as provided in the Plan), this option may be exercised, to the extent that he was entitled to exercise it at the date of his death, by a legatee or legatees of Optionee under his last will, or by his personal representatives or distributees, at any time within a period of one (1) year after his death, but not after ten (10) years from the date hereof, and only if and to the extent that he was entitled to exercise the option at the date of his death.

Appears in 13 contracts

Samples: Incentive Stock Option Agreement (Esco Technologies Inc), Stock Option Agreement (Dme Interactive Holdings Inc), Incentive Stock Option Agreement (Esco Electronics Corp)

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Death of Optionee. In the event of the death of Optionee during the term of this Agreement and while he is employed by the Company (or a subsidiary), or within three (3) months after the termination of his employment (or one (l) year in the case of the termination of employment of an if Optionee who is disabled as provided in the Plandetermined under paragraph 6, above), this option may be exercised, to the extent that he was entitled to exercise it at the date of his death, by a legatee or legatees of Optionee under his last will, or by his personal representatives or distributees, at any time within a period of one (1) year after his death, but not after ten five (105) years from the date hereof, and only if and to the extent that he was entitled to exercise the option at the date of his death.

Appears in 4 contracts

Samples: Incentive Stock Option Agreement (Stereotaxis, Inc.), Incentive Stock Option Agreement (Stereotaxis, Inc.), Incentive Stock Option Agreement (Stereotaxis, Inc.)

Death of Optionee. In the event of the death of Optionee during the term of this Agreement and while he is employed by providing services to the Company (or a subsidiary), or within three thirty (330) months days after the termination of his employment service (or one (l) year in the case of the termination of employment of an service if Optionee who is disabled as provided in the Plandetermined under paragraph 6, above), this option may be exercised, to the extent that he was entitled to exercise it at the date of his death, by a legatee or legatees of Optionee under his last will, or by his personal representatives or distributees, at any time within a period of one (1) year after his death, but not after ten (10) years from the date hereof, and only if and to the extent that he was entitled to exercise the option at the date of his death.

Appears in 3 contracts

Samples: Nonqualified Stock Option Agreement (Stereotaxis, Inc.), Nonqualified Stock Option Agreement (Stereotaxis, Inc.), Nonqualified Stock Option Agreement (Stereotaxis, Inc.)

Death of Optionee. In the event of the death of Optionee during the term of this Agreement and while he is employed by the Company (or a subsidiary), or within three (3) months after the termination of his employment (or one (l) year in the case of the termination of employment of an Optionee who is disabled as provided in the Plan), this option may be exercised, to the extent that he was entitled to exercise it at the date of his death, by a legatee or legatees of Optionee under his last will, or by his personal representatives or distributeesdistributes, at any time within a period of one (1) year after his death, but not after ten (10) years from the date hereof, and only if and to the extent that he was entitled to exercise the option at the date of his death.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Esco Technologies Inc)

Death of Optionee. In the event of the death of Optionee during the term of this Agreement and while he or she is employed by the Company (or its Parent or a subsidiarySubsidiary), or within three (3) months after the termination of his or her employment (or one (l) year in the case of the termination of employment of an Optionee who is disabled as provided in the PlanSection 6 above), this option shall become fully vested (if not already fully vested) and may be exercised, to the extent that he was entitled to exercise it at the date of his death, exercised by a legatee or legatees of Optionee under his or her last will, or by his or her personal representatives or distributees, at any time within a period of one (1) year after his or her death, but not after ten (10) years from the date hereofDate of Grant, and only if and to the extent that he or she was entitled to exercise the option at the date of his or her death.

Appears in 1 contract

Samples: Stock Option Agreement (Gulfstream International Group Inc)

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Death of Optionee. In the event of the death of Optionee during the term of this Agreement and while he is employed by the Company (or a subsidiary), or within three thirty (330) months days after the termination of his employment (or one (l) year in the case of the termination of employment of an if Optionee who is disabled as provided in the Plandetermined under paragraph 6, above), this option may be exercised, to the extent that he was entitled to exercise it at the date of his death, by a legatee or legatees of Optionee under his last will, or by his personal representatives or distributees, at any time within a period of one (1) year after his death, but not after ten (10) years from the date hereof, and only if and to the extent that he was entitled to exercise the option at the date of his death.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Stereotaxis, Inc.)

Death of Optionee. In the event of the death of Optionee during the term of this Agreement and while he is employed by the Company (or a subsidiary), or within three (3) months after the termination of his employment (or one (l1) year in the case of the termination of employment of an Optionee who is disabled as provided in the Plan), this option may be exercised, to the extent that he was entitled to exercise it at the date of his death, by a legatee or legatees of Optionee under his last will, or by his personal representatives or distributees, at any time within a period of one (1) year after his death, but not after ten (10) years from the date hereof, and only if and to the extent that he was entitled to exercise the option at the date of his death.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Esco Technologies Inc)

Death of Optionee. In the event of the death of Optionee during the term of this Agreement and while he is 5 employed by the Company (or a subsidiary), or within three (3) months after the termination of his employment (or one (l) year in the case of the termination of employment of an Optionee who is disabled as provided in the Plan), this option may be exercised, to the extent that he was entitled to exercise it at the date of his death, by a legatee or legatees of Optionee under his last will, or by his personal representatives or distributees, at any time within a period of one (1) year after his death, but not after ten (10) years from the date hereof, and only if and to the extent that he was entitled to exercise the option at the date of his death.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Esco Electronics Corp)

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