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

Exercise in the Event of Death. This Option shall be exercisable for all or part of the number of Shares that the Participant is entitled to purchase pursuant to paragraph 2(b) as of the date of the Participant’s death, reduced by the number of Shares for which the Participant previously exercised the Option, in the event the Participant dies while employed by the Company or any Affiliate and prior to the Expiration Date and the termination of the Participant’s rights under paragraphs 4, 5 or 6 of this Agreement. In that event, this Option may be exercised by the Participant’s estate, or the person or persons to whom his rights under this Option shall pass by will or the laws of descent and distribution, for the remainder of the period preceding the Expiration Date or within one year of the date the Participant dies, whichever period is shorter.

Appears in 2 contracts

Samples: Incentive Stock Option (Arris Group Inc), Nonqualified Stock Option Agreement (Arris Group Inc)

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Exercise in the Event of Death. This Option shall be exercisable for all or part of the number of Shares shares of Common Stock that the Participant is entitled to purchase pursuant to paragraph 2(b) as of the date of the Participant’s death, reduced by the number of Shares shares for which the Participant previously exercised the Option, in the event the Participant dies while employed by the Company Corporation or any Affiliate Subsidiary and prior to the Expiration Date and the termination of the Participant’s rights under paragraphs 4, 4 or 5 or 6 of this Agreement. In that event, this Option may be exercised by the Participant’s estate, or the person or persons to whom his the Participant’s rights under this Option shall pass by will or the laws of descent and distribution, for the remainder of the period preceding the Expiration Date or within one year of the date the Participant dies, whichever period is shorter.

Appears in 1 contract

Samples: Incentive Stock Option Agreement for Employees (Primedia Inc)

Exercise in the Event of Death. This Option shall be exercisable for all or part of the number of Shares shares of Common Stock that the Participant is entitled to purchase pursuant to paragraph Section 2(b) as of the date of the Participant’s death, reduced by the number of Shares shares for which the Participant previously exercised the Option, in the event the Participant dies while employed by the Company or any Affiliate and prior to the Expiration Date and the termination of the Participant’s rights under paragraphs Sections 4, 5 or 6 of this Agreement. In that event, this Option may be exercised by the Participant’s estate, or the person or persons to whom his rights under this Option shall pass by will or the laws of descent and distribution, for the remainder of the period preceding the Expiration Date or within one year 180 days of the date the Participant dies, whichever period is shorter.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Earthlink Inc)

Exercise in the Event of Death. This Option shall be exercisable for all or part of the number of Shares shares of Common Stock that the Participant is entitled to purchase pursuant to paragraph 2(b2(a) and (b) as of the date of the Participant’s death, reduced by the number of Shares shares for which the Participant previously exercised the Option, in the event the Participant dies while employed by the Company or any Affiliate Subsidiary and prior to the Expiration Date and prior to the termination of the Participant’s rights under paragraphs 4, 5 5, 6 or 6 of this Agreement7. In that event, this Option may be exercised by the Participant’s estate, or the person or persons to whom his rights under this Option shall pass by will or the laws of descent and distribution, for during the remainder of the period preceding the Expiration Date or within one year 180 days of the date the Participant dies, whichever period is shorter.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Earthlink Inc)

Exercise in the Event of Death. This Option shall be exercisable for all or part of the number of Shares shares of Common Stock that the Participant Optionee is entitled to purchase pursuant to paragraph Section 2(b) as of the date of the ParticipantOptionee’s death, reduced by the number of Shares shares of Common Stock for which the Participant Optionee previously exercised the Option, in the event the Participant Optionee dies while employed by the Company or any Affiliate subsidiary and prior to the Expiration Date and the termination of the ParticipantOptionee’s rights under paragraphs 4, Sections 4 or 5 or 6 of this Agreement. In that event, this Option may be exercised by the ParticipantOptionee’s estate, or the person or persons to whom his rights under this Option shall pass by will or the laws of descent and distribution, for the remainder of the period preceding the Expiration Date or within one year 12 months of the date the Participant Optionee dies, whichever period is shorter.

Appears in 1 contract

Samples: Share Option Agreement (Acamar Partners Acquisition Corp.)

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Exercise in the Event of Death. This Option shall be exercisable for all or part of the number of Shares shares of Common Stock that the Participant is entitled to purchase pursuant to paragraph 2(b2(a) and (b) as of the date of the Participant’s death, reduced by the number of Shares shares for which the Participant previously exercised the Option, in the event the Participant dies while employed by the Company or any Affiliate Subsidiary and prior to the Expiration Date and prior to the termination of the Participant’s rights under paragraphs 4, 5 5, 6 or 6 of this Agreement7. In that event, this Option may be exercised by the Participant’s estate, or the person or persons to whom his rights under this Option shall pass by will or the laws of descent and distributiondistribution may exercise this Option. In that event, for the Participant’s estate or such persons may exercise this Option during the remainder of the period preceding the Expiration Date or within one year 180 days of the date the Participant dies, whichever period is shorter.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Earthlink Inc)

Exercise in the Event of Death. This Option shall be exercisable for all or part of the number of Shares shares of Common Stock that the Participant is entitled to purchase pursuant to paragraph 2(b) as of the date of the Participant’s death, reduced by the number of Shares shares for which the Participant previously exercised the Option, in the event the Participant dies while employed by the Company or any Affiliate and prior to the Expiration Date and the termination of the Participant’s rights under paragraphs 4, 5 or 6 of this Agreement. In that event, this Option may be exercised by the Participant’s estate, or the person or persons to whom his rights under this Option shall pass by will or the laws of descent and distribution, for the remainder of the period preceding the Expiration Date or within one year of the date the Participant dies, whichever period is shorter.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Wuhan General Group (China), Inc)

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