Common use of Exercise in the Event of Death Clause in Contracts

Exercise in the Event of Death. In the event Participant dies before the expiration of this Option pursuant to subparagraph 2(a), this Option shall be exercisable with respect to all or part of the shares of Common Stock that Participant was entitled to purchase under subparagraph 2(b) on the date of Participant’s death. In that event, this Option may be exercised, to the extent exercisable under subparagraph 2(b), by Participant's estate or by the person or persons to whom his rights under this Option shall pass by will or the laws of descent and distribution. Participant's estate or such persons may exercise this Option within one (1) year of Participant's death or during the remainder of the period preceding the Expiration Date, whichever is shorter.

Appears in 7 contracts

Samples: Employment Agreement (Insmed Inc), Incentive Stock Option Agreement (Insmed Inc), Non Qualified Stock Option Agreement (Insmed Inc)

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Exercise in the Event of Death. In the event Participant dies before the expiration of this Option pursuant to subparagraph 2(a), this Option shall be exercisable with respect to all or part of the shares of Common Stock that Participant was entitled to purchase under subparagraph 2(b) on the date of Participant’s death. In that event, this Option may be exercised, to the extent exercisable under subparagraph 2(b), by Participant's ’s estate or by the person or persons to whom his rights under this Option shall pass by will or the laws of descent and distribution. Participant's ’s estate or such persons may exercise this Option within one (1) year of Participant's ’s death or during the remainder of the period preceding the Expiration Date, whichever is shorter.

Appears in 5 contracts

Samples: Insmed Incorporated (INSMED Inc), Insmed Incorporated (INSMED Inc), Incentive Stock Option Agreement (Insmed Inc)

Exercise in the Event of Death. In the event Participant dies before the expiration of this Option pursuant to subparagraph 2(a), this Option shall be exercisable with respect to all or part of the shares of Common Stock that Participant was entitled to purchase under subparagraph 2(b) on the date of Participant’s death. In that event, this Option may be exercised, to the extent exercisable under subparagraph 2(b), by Participant's estate or by the person or persons to whom his rights under this Option shall pass by will or the laws of descent and distribution. Participant's estate or such persons may exercise this Option within one (1) year of after Participant's death or during the remainder of the period preceding the Expiration Date, whichever is shorter.

Appears in 5 contracts

Samples: Non Qualified Stock Option Agreement (INSMED Inc), Non Qualified Stock Option Agreement (INSMED Inc), Non Qualified Stock Option Agreement (INSMED Inc)

Exercise in the Event of Death. In the event Participant dies before the expiration of this the Option pursuant to subparagraph 2(a), this the Option shall be exercisable with respect to all or part of the shares of Common Stock that Participant was entitled to purchase under subparagraph 2(b) on the date of Participant’s death. In that event, this the Option may be exercised, to the extent exercisable under subparagraph 2(b), by Participant's ’s estate or by the other person or persons to whom his Participant’s rights under this the Option shall pass by will or the laws of descent and distribution. Participant's ’s estate or such persons may exercise this the Option within one (1) year of after Participant's ’s death or during the remainder of the period preceding the Expiration Date, whichever is shorter.

Appears in 3 contracts

Samples: Insmed Incorporated (INSMED Inc), Insmed Incorporated (INSMED Inc), Insmed Incorporated (INSMED Inc)

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Exercise in the Event of Death. In the event Participant dies before the expiration of this Option pursuant to subparagraph 2(a), this Option shall be exercisable with respect to all or part of the shares of Common Stock that Participant was entitled to purchase under subparagraph 2(b) on the date of Participant’s death. In that event, this Option may be exercised, to the extent exercisable under subparagraph 2(b), by Participant's ’s estate or by the person or persons to whom his rights under this Option shall pass by will or the laws of descent and distribution. Participant's ’s estate or such persons may exercise this Option within one (1) year of Participant's ’s death or during the remainder of the period preceding the Expiration Date, whichever is shorter.

Appears in 2 contracts

Samples: Insmed Incorporated (Insmed Inc), Incentive Stock Option Agreement (Insmed Inc)

Exercise in the Event of Death. In the event Participant dies before the expiration of this Option pursuant to subparagraph 2(a), this Option shall be exercisable with respect to all or part of the shares of Common Stock that Participant was entitled to purchase under subparagraph 2(b) on the date of Participant’s death. In that event, this Option may be exercised, to the extent exercisable under subparagraph 2(b), by Participant's ’s estate or by the person or persons to whom his rights under this Option shall pass by will or the laws of descent and distribution. Participant's ’s estate or such persons may exercise this Option within one (1) year of after Participant's ’s death or during the remainder of the period preceding the Expiration Date, whichever is shorter.

Appears in 1 contract

Samples: Insmed Incorporated (INSMED Inc)

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