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 of Common Stock that the Participant is entitled to purchase pursuant to Section 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 serving as a member of the Board or the Board of Directors of an Affiliate and prior to the Expiration Date and the termination of the Participant’s rights under 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 180 days of the date the Participant dies, whichever period is shorter.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Earthlink 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 of Common Stock that the Participant is entitled to purchase pursuant to Section 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 serving as a member of employed by the Board Company or the Board of Directors of an any Affiliate and prior to the Expiration Date and the termination of the Participant’s rights under Sections 4, 5 5, 6, 7 or 6 8 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 180 days of twelve (12) months after 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 of Common Stock that the Participant is entitled to purchase pursuant to Section 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 serving as a member of employed by, or providing services to, the Board Company or the Board of Directors of an any Affiliate and prior to the Expiration Date and the termination of the Participant’s rights under 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 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 of Common Stock that the Participant is entitled to purchase pursuant to Section 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 serving as a member of employed by, or providing services to, the Board Company or the Board of Directors of an any Affiliate and prior to the Expiration Date and the termination of the Participant’s rights under Sections 4, 5 5, 6, 7 or 6 8 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 180 days of twelve (12) months after the date the Participant dies, whichever period is shorter.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Earthlink 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 of Common Stock that the Participant is entitled to purchase pursuant to Section 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 serving as a member of the Board or director on the Board of Directors of an Affiliate the Corporation or any Subsidiary and prior to the Expiration Date and the termination of the Participant’s rights under Sections 4, paragraphs 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 180 days one year of the date the Participant dies, whichever period is shorter.

Appears in 1 contract

Samples: 1992 Stock Purchase and Option Plan (Primedia Inc)

Exercise in the Event of Death. This Option shall be exercisable for all or part of the number of shares of Common Stock that the Participant is entitled to purchase pursuant to Section 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 serving as a member of the Board or the Board of Directors of an Affiliate the Company or any Affiliate, as applicable, and prior to the Expiration Date and the termination of the Participant’s rights under Sections 4, paragraphs 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 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 180 days one year of the date the Participant dies, whichever period is shorter.

Appears in 1 contract

Samples: General Group (Wuhan General Group (China), Inc)

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