Election of Option Sample Clauses

Election of Option. The following options are available to you during your lifetime. They are also available to the Beneficiary after your death, if you have not selected an option for such Beneficiary. You may elect to have the cash surrender Value, Contract Account Value or Death Benefit paid in accordance with any one of the options described below or in any other manner acceptable to us. If no election has been made, the automatic option shall be Option B. The amount paid under these options if fixed and dies not depend on the investment performance of the variable Account.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
Election of Option. Contractor shall exercise the option provided in Section 15.4.2 by delivery of Notice to Owner not later than ten (10) days after either the Substantial Completion Date or the date of the last completed Performance Test; or the expiration of a previously implemented Remedial Plan, as applicable. For the avoidance of doubt, Contractor may, notwithstanding Contractor’s election of option (b) of Section 15.4.2, elect to pay the Performance Liquidated Damages and achieve Final Completion, pursuant to Section 15.4.2(a) after the expiration of its previously implemented Remedial Plan if Contractor fails to satisfy the Performance Guarantees by such date, based on the most recent Performance Tests.
Sample 1
Election of Option. Xxxxx and Xxxxxx hereby elect to exercise the First Cancellation Option as of the date hereof.
Sample 1
Election of Option. The Participant may elect or revoke an option during the ninety (90) day period before his Retirement Date by filing a written election with the Employer. However, a Participant may not elect more than one (1) option to be effective at the same time. No such election or revocation can be made after the Participant's Retirement Date. To elect an option, a married Participant must make a Qualified Election in accordance with Section 7.6. If a Participant elects an optional form of payment, the amount of retirement income payable to him must be more than fifty percent (50%) of the present value of the retirement income payable to the Participant had the option not been elected, unless the alternate recipient is the Participant's Spouse; otherwise, such election will be deemed null and void.
Sample 1
Election of Option. On the Annuity Date, the Interim Value will be applied to provide annuity payments to You or a payee You designate in accordance with the applicable Settlement Option elected by the Owner or if no Settlement Option was elected, in accordance with the Annuity Payments provision. Withdrawal Charges will not be applied when You elect a Settlement Option and will not be applied to the resulting annuity payments. As stated in the Annuity Payments provision of Your Contract, an election of a Settlement Option must be made in writing by the Owner prior to the Annuity Date and is irrevocable on or after the Annuity Date. Additionally, the Beneficiary may elect to receive the Death Benefit under one of the Settlement Options described below, subject to the satisfaction of section 72(s) of the Internal Revenue Code, as amended. Any election of a Settlement Option by a Beneficiary must be made in writing and is irrevocable on or after the date payments begin. For purposes of the Settlement Options below, the Beneficiary will be the Annuitant. A lump sum along with a Settlement Option may be elected. The amount applied under the Settlement Option must be at least $5,000. Payments made quarterly, semiannually or annually may be elected in lieu of monthly payments. Payments less than $100 will only be made annually. Settlement Options No future payments under any option except as provided in the Settlement Option or by law may be assigned or transferred. In addition to the Settlement Options below, We may provide other options at our discretion:
Sample 1
Election of Option. New Employee A new employee will be able to make an election to access Option A or Option B. Access may be delayed at the discretion of the Ports Corporation for a maximum period of 6 months so that the new employees performance pay timings align with those of other employees.
Sample 1

Related to Election of Option

  • Termination of Option (a) Any unexercised portion of the Option shall automatically and without notice terminate and become null and void at the time of the earliest to occur of:

  • Duration of Option The Option shall be exercisable to the extent and in the manner provided herein for a period of ten (10) years from the Grant Date (the "Exercise Term"); provided, however, that the Option may be earlier terminated as provided in Section 6 hereof.

  • Expiration of Option The Option may not be exercised to any extent by anyone after the first to occur of the following events:

  • Termination of Options To the extent vested in accordance with Section 2 above, the Options will terminate, and be of no force or effect, upon the earlier of:

  • Xxxxx of Option The Plan Administrator of the Company hereby grants to the Optionee named in the Notice of Grant attached as Part I of this Agreement (the "Optionee") an option (the "Option") to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the "Exercise Price"), subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to Section 15(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail. If designated in the Notice of Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d) it shall be treated as a Nonstatutory Stock Option ("NSO").

  • Early Termination of Option The Option, to the extent not previously exercised, and all other rights in respect thereof, whether vested and exercisable or not, shall terminate and become null and void prior to the Expiration Date in the event of: • the termination of the Participant’s employment or services as provided in Section 5.6 of the Plan, or • the termination of the Option pursuant to Section 7.3 of the Plan.

  • Expiration of Options Except as otherwise provided in Section 5 or 6 of the Management Stockholder's Agreement, the Options may not be exercised to any extent by the Optionee after the first to occur of the following events:

  • Acceleration of Option Notwithstanding any other provision of this Agreement to the contrary, the Option granted hereby shall become immediately exercisable upon the occurrence of a Change in Control (as hereinafter defined) of the Corporation if Optionee is an employee of the Corporation or any of its subsidiaries on the date of the consummation of such Change in Control. For purposes of this Section 4.2, a “Change in Control” means the occurrence of any of the following events:

  • Grant; Type of Option The Company hereby grants to the Participant an option (the “Option”) to purchase the total number of shares of Common Stock of the Company, at the Exercise Price set forth above. The Option is being granted pursuant to the terms of the EndoChoice Holdings, Inc. 2015 Omnibus Equity Incentive Plan (the “Plan”). The Option is intended to be a Nonqualified Stock Option and not an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code.

Time is Money Join Law Insider Premium to draft better contracts faster.