Common use of Death of Participant Clause in Contracts

Death of Participant. If a Participant dies while a Service Provider, the Option may be exercised within 6 months following the Participant’s death, or within such longer period of time as is specified in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement or Section 6(d), as applicable) to the extent that the Option is vested on the date of death, by the Participant’s designated beneficiary, provided the Administrator has permitted the designation of a beneficiary and provided such beneficiary has been designated prior to the Participant’s death in a form (if any) acceptable to the Administrator. If the Administrator has not permitted the designation of the beneficiary or if no such beneficiary has been designated by the Participant, then such Option may be exercised by the personal representative of the Participant’s estate or by the person(s) to whom the Option is transferred pursuant to the Participant’s will or in accordance with the laws of descent and distribution. If the Option is exercised pursuant to this Section 6(f)(iii), Participant’s designated beneficiary or personal representative shall be subject to the terms of this Plan and the Award Agreement, including but not limited to the restrictions on transferability and forfeitability applicable to the Service Provider. Unless otherwise provided by the Administrator or set forth in the Award Agreement or other written agreement authorized by the Administrator between the Participant and the Company or any of its Subsidiaries or Parents, as applicable, if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan immediately. If the Option is not so exercised within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

Death of Participant. If a Participant under a Non-Qualified Contract dies while a Service Provider, the Option may be exercised within 6 months following the Participant’s death, or within such longer period of time as is specified in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement or Section 6(d), as applicable) prior to the extent Annuity Commencement Date, that Participant's Account must be distributed to the Option is vested on "designated Beneficiary" (as defined below) either (1) as a lump sum within five years after the date of death, by death of the Participant’s , or (2) as an annuity over some period not greater than the life or expected life of the designated beneficiaryBeneficiary, provided with annuity payments beginning within one year after the Administrator has permitted date of death of the designation Participant. For this purpose (and for purposes of a beneficiary Section 72(s) of the Code), the person named as Beneficiary shall be considered the designated Beneficiary and provided such beneficiary if no person then living has been designated prior to so named, then the surviving Participant’s death in a form (, if any) acceptable to , or the Administratorestate of the deceased Participant shall automatically be the designated Beneficiary. If the Administrator has not permitted designated Beneficiary is the designation surviving spouse of the beneficiary or if no such beneficiary has been deceased Participant, the spouse can elect to continue the Certificate in the spouse's own name as Participant, in which case the mandatory distribution requirements will apply only on the surviving spouse's death. As designated by Beneficiary, the surviving spouse may also choose to have the Participant's Account distributed over some period not greater than his or her life or expected life, then such Option may be exercised by with annuity payments beginning within one year after the personal representative date of death of the Participant’s estate or by the person(s) to whom the Option is transferred pursuant to the Participant’s will or in accordance with the laws of descent and distribution. If the Option is exercised pursuant to this Section 6(f)(iii)Payee dies on or after the Annuity Commencement Date and before the entire accumulation under such Participant's Account has been distributed, the remaining portion of such Participant’s designated beneficiary or personal representative shall be subject to the terms of this Plan and the Award Agreement, including but not limited to the restrictions on transferability and forfeitability applicable to the Service Provider. Unless otherwise provided by the Administrator or set forth in the Award Agreement or other written agreement authorized by the Administrator between the Participant and the Company or any of its Subsidiaries or Parents, as applicable's Account, if at any, must be distributed as least as rapidly as under the time method of death Participant is not vested as to his or her entire Optiondistribution then in effect. In any case in which a non-natural person constitutes a holder of the Certificate for the purposes of Section 72(s) of the Code, the Shares covered by distribution requirements described above shall apply upon the unvested portion death of the Option will revert to the Plan immediately. If the Option is not so exercised within the time specified herein, the Option will terminateany Annuitant, and the Shares covered by removal of any Annuitant shall be treated as the death of such Option will revert Annuitant. In all cases, no Participant or Beneficiary shall be entitled to exercise any rights that would adversely affect the Plantreatment of the Contract as an annuity contract under the Code.

Death of Participant. If a Participant under a Non-Qualified Contract dies while a Service Provider, the Option may be exercised within 6 months following the Participant’s death, or within such longer period of time as is specified in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement or Section 6(d), as applicable) prior to the extent Annuity Commencement Date, that Participant's Account must be distributed to the Option is vested on "designated Beneficiary" (as defined below) either (1) as a lump sum within five years after the date of death, by death of the Participant’s , or (2) as an annuity over some period not greater than the life or expected life of the designated beneficiaryBeneficiary or for a period certain of between five and nine years, provided with annuity payment beginning within one year after the Administrator has permitted date of death of the designation Participant. For this purpose (and for purposes of a beneficiary Section 72(s) of the Code), the person named as Beneficiary shall be considered the designated Beneficiary and provided such beneficiary if no person then living has been designated prior to so named, then the surviving Participant’s death in a form (, if any) acceptable to , or the Administratorestate of the deceased Participant shall automatically be the designated Beneficiary. If the Administrator has not permitted designated Beneficiary is the designation surviving spouse of the beneficiary deceased Participant, that spouse can elect to continue the Certificate in his or if no such beneficiary has been her own name as Participant, in which case the mandatory distribution requirements will apply on the spouse's death. As designated by Beneficiary, the surviving spouse may also choose to have the Participant's Account distributed over some period not greater than his or her life or expected life, then such Option may be exercised by with annuity payments beginning within one year after the personal representative date of death of the Participant’s estate or by the person(s) to whom the Option is transferred pursuant to the Participant’s will or in accordance with the laws of descent and distribution. If the Option is exercised pursuant to this Section 6(f)(iii)Payee dies on or after the Annuity Commencement Date and before the entire accumulation under such Participant's Account has been distributed, the remaining portion of such Participant’s designated beneficiary or personal representative shall be subject to the terms of this Plan and the Award Agreement, including but not limited to the restrictions on transferability and forfeitability applicable to the Service Provider. Unless otherwise provided by the Administrator or set forth in the Award Agreement or other written agreement authorized by the Administrator between the Participant and the Company or any of its Subsidiaries or Parents, as applicable's Account, if at any, must be distributed as least as rapidly as the time method of death Participant is not vested as to his or her entire Optiondistribution then in effect. In any case in which a non-natural person constitutes a holder of the Certificate for the purposes of Section 72(s) of the Code, the Shares covered by distribution requirements described above shall apply upon the unvested portion death of the Option will revert to the Plan immediately. If the Option is not so exercised within the time specified herein, the Option will terminateany Annuitant, and the Shares covered by removal of any Annuitant shall be treated as the death of such Option will revert Annuitant. In all cases, no Participant or Beneficiary shall be entitled to exercise any rights that would adversely affect the Plantreatment of the Contract as an annuity Contract under the Code.

Death of Participant. If a If, while Participant is employed by the Company, he dies while a Service Provider, the Option may be exercised within 6 months following the Participant’s death, or within such longer period of time as is specified in the Award Agreement one hundred eighty (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement or Section 6(d), as applicable180) days prior to the extent that the Option is vested date of a Fundamental Transaction, then on the date of death, such Fundamental Transaction (i) the number of unvested Deferred Shares that would have vested for Participant in Section II(1)(c) above based on the Consideration received by the Company in connection with such Fundamental Transaction shall immediately vest and (ii) any delivery of such vested Deferred Shares shall be distributed to the Participant’s designated beneficiary, provided the Administrator has permitted the designation of a beneficiary and provided that such beneficiary has been designated prior to the Participant’s death death, and in a form (if any) acceptable the absence of any such effective designation, such vested Deferred Shares will be delivered to the Administrator. If administrator or executor of Participant’s estate; provided, that, if the Administrator has not permitted Participant is a director or executive officer (within the designation meaning of Section 16 of the beneficiary or if no such beneficiary has been designated by Exchange Act and the Participantregulations thereunder) of Summit (each, then such Option may be exercised by a “Section 16 Person”) as of the personal representative Grant Date and/or as of the Participant’s estate death, then such vesting acceleration shall not be applicable and all of the then outstanding and unvested Deferred Shares shall be forfeited. Any such administrator or executor must furnish Summit with (A) written notice of his or her status as transferee, (B) a copy of the will and/or such evidence as the Committee may deem necessary to establish the validity of the transfer, and (C) an agreement by the person(s) transferee to whom comply with all the Option is transferred pursuant terms and conditions of the Deferred Shares that are or would be applicable to the Participant and to be bound by the acknowledgments made by the Participant hereunder. Delivery of the shares of Common Stock will be made as soon as practicable following the Participant’s will or date of death, but in accordance with the laws of descent and distribution. If the Option is exercised pursuant to this Section 6(f)(iii), Participant’s designated beneficiary or personal representative shall be subject to the terms of this Plan and the Award Agreement, including but not limited to the restrictions on transferability and forfeitability applicable to the Service Provider. Unless otherwise provided by the Administrator or set forth in the Award Agreement or other written agreement authorized by the Administrator between the Participant and the Company or any of its Subsidiaries or Parents, as applicable, if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan immediately. If the Option is not so exercised within the time specified herein, the Option will terminate, and the Shares covered by no event later than thirty (30) days following such Option will revert to the Plandate.

Death of Participant. If a Participant under a Non-Qualified Contract dies while a Service Provider, the Option may be exercised within 6 months following the Participant’s death, or within such longer period of time as is specified in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement or Section 6(d), as applicable) prior to the extent Annuity Commencement Date, that Participant's Account must be distributed to the Option is vested on "designated Beneficiary" (as defined below) either (1) as a lump sum within five years after the date of death, by death of the Participant’s , or (2) as an annuity over some period not greater than the life or expected life of the designated beneficiaryBeneficiary, provided with annuity payments beginning within one year after the Administrator has permitted date of death of the designation Participant. For this purpose (and for purposes of a beneficiary Section 72(s) of the Code), the person named as Beneficiary shall be considered the designated Beneficiary and provided such beneficiary if no person then living has been designated prior to so named, then the Surviving Participant’s death in a form (, if any) acceptable to , or the Administratorestate of the deceased Participant shall automatically be the designated Beneficiary. If the Administrator has not permitted designated Beneficiary is the designation surviving spouse of the beneficiary or if no such beneficiary has been deceased Participant, the spouse can elect to continue the Certificate in the spouse's own name as Participant, in which case the mandatory distribution requirements will apply on the spouse's death. As designated by Beneficiary, the surviving spouse may also choose to have the Participant's Account distributed over some period not greater than his or her life or expected life, then such Option may be exercised by with annuity payments beginning within one year after the personal representative date of death of the Participant’s estate or by the person(s) to whom the Option is transferred pursuant to the Participant’s will or in accordance with the laws of descent and distribution. If the Option is exercised pursuant to this Payee dies on or after the Annuity Commencement Date and before the entire accumulation under such Participant's Account has been distributed, the remaining portion of such Participant's Account, if any, must be distributed as least as rapidly as the method of distribution then in effect. In any case in which a non-natural person constitutes a holder of the Certificate for the purposes of Section 6(f)(iii)72(s) of the Code, Participant’s designated beneficiary or personal representative the distribution requirements described above shall apply upon the death of any Annuitant, and in the removal of any Annuitant shall be subject treated as the death of such Annuitant. In all cases, no Participant or Beneficiary shall be entitled to exercise any rights that would adversely affect the terms of this Plan and the Award Agreement, including but not limited to the restrictions on transferability and forfeitability applicable to the Service Provider. Unless otherwise provided by the Administrator or set forth in the Award Agreement or other written agreement authorized by the Administrator between the Participant and the Company or any of its Subsidiaries or Parents, as applicable, if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion treatment of the Option will revert to Contract as an annuity Contract under the Plan immediately. If the Option is not so exercised within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the PlanCode.

Death of Participant. If a Participant under a Non-Qualified Contract dies while a Service Provider, the Option may be exercised within 6 months following the Participant’s death, or within such longer period of time as is specified in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement or Section 6(d), as applicable) prior to the extent Annuity Commencement Date, that Participant's Account must be distributed to the Option is vested on "designated Beneficiary" (as defined below) either (1) as a lump sum within five years after the date of death, by death of the Participant’s , or (2) as an annuity over some period not greater than the life or expected life of the designated beneficiaryBeneficiary, provided with annuity payments beginning within one year after the Administrator has permitted date of death of the designation Participant. For this purpose (and for purposes of a beneficiary Section 72(s) of the Code), the person named as Beneficiary shall be considered the designated Beneficiary and provided such beneficiary if no person then living has been designated prior to so named, the surviving Participant’s death in a form (, if any) acceptable to , or the Administratorestate of the deceased Participant shall automatically be the designated Beneficiary. If the Administrator has not permitted designated Beneficiary is the designation surviving spouse of the beneficiary or if no such beneficiary has been deceased Participant, the spouse can elect to continue the Certificate in the spouse's own name as Participant, in which case the mandatory distribution requirements will apply on the spouse's death. As designated by Beneficiary, the surviving spouse may also choose to have the Participant's Account distributed over some period not greater than his or her life or expected life, then such Option may be exercised by with annuity payments beginning within one year after the personal representative date of death of the Participant’s estate or by the person(s) to whom the Option is transferred pursuant to the Participant’s will or in accordance with the laws of descent and distribution. If the Option is exercised pursuant to this Section 6(f)(iii)Payee dies on or after the Annuity Commencement Date and before the entire accumulation under such Participant's Account has been distributed, the remaining portion of such Participant’s designated beneficiary or personal representative shall be subject to the terms of this Plan and the Award Agreement, including but not limited to the restrictions on transferability and forfeitability applicable to the Service Provider. Unless otherwise provided by the Administrator or set forth in the Award Agreement or other written agreement authorized by the Administrator between the Participant and the Company or any of its Subsidiaries or Parents, as applicable's Account, if at any, must be distributed as least as rapidly as the time method of death Participant is not vested as to his or her entire Optiondistribution then in effect. In any case in which a non-natural person constitutes a holder of the Certificate for the purposes of Section 72(s) of the Code, the Shares covered by distribution requirements described above shall apply upon the unvested portion death of the Option will revert to the Plan immediately. If the Option is not so exercised within the time specified herein, the Option will terminateany Annuitant, and the Shares covered by removal of any Annuitant shall be treated as the death of such Option will revert Annuitant. In all cases, no Participant or Beneficiary shall be entitled to exercise any rights that would adversely affect the Plantreatment of the Contract as an annuity Contract under the Code.