Common use of Who May Exercise Clause in Contracts

Who May Exercise. Subject to the terms and conditions set forth in Sections 3 and 4 above, during the lifetime of the Participant, the Stock Option may be exercised only by the Participant, or by the Participant’s guardian or personal or legal representative. If the Participant’s Termination of Service is due to [his / her] death prior to the dates specified in Section 4.a. hereof, and the Participant has not exercised the Stock Option as to the maximum number of vested Optioned Shares as set forth in Section 3 hereof as of the date of death, the following persons may exercise the exercisable portion of the Stock Option on behalf of the Participant at any time prior to the earliest of the dates specified in Section 4.a. hereof: the personal representative of [his / her] estate, or the person who acquired the right to exercise the Stock Option by bequest or inheritance or by reason of the death of the Participant; provided that the Stock Option shall remain subject to the other terms of this Agreement, the Plan, and Applicable Laws, rules, and regulations.

Appears in 5 contracts

Samples: Stock Option Agreement (InspireMD, Inc.), Incentive Stock Option Agreement (InspireMD, Inc.), Nonqualified Stock Option Agreement (InspireMD, Inc.)

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Who May Exercise. Subject to the terms and conditions set forth in Sections 3 and 4 above, this Stock Option may be exercised during the lifetime of the Participant, the Stock Option may be exercised Participant only by the Participant, Participant or by the Participant’s guardian or personal or legal representative. If the Participant’s Termination of Service is due to [his / her] death or Total and Permanent Disability prior to the dates termination date specified in Section 4.a. 4(a)(i) hereof, and the Participant has not exercised the Stock Option as to the maximum number of vested Optioned Shares as set forth in Section 3 hereof as of the date of death, the following persons may exercise the exercisable portion of the this Stock Option on behalf of the Participant at any time prior to the earliest earlier of the dates specified in Section 4.a. Sections 4(a)(i), (ii) or (v) hereof: (i) if the Participant has a Total and Permanent Disability, the Participant or the guardian of the Participant; or (ii) if the Participant dies, the personal representative of [his / her] estate, the Participant’s estate or the person who acquired the right to exercise the this Stock Option by bequest or inheritance or by reason of the death of the Participant; provided that the this Stock Option shall remain subject to the other terms of this Agreement, the Plan, and Applicable Lawsapplicable laws, rules, rules and regulations.

Appears in 3 contracts

Samples: Term Incentive Plan Incentive Stock Option Agreement (Toreador Resources Corp), Incentive Stock Option Agreement (Plainscapital Corp), Term Incentive Plan Nonqualified Stock Option Agreement (Toreador Resources Corp)

Who May Exercise. Subject to the terms and conditions set forth in Sections 3 and 4 above, during the lifetime of the Participant, the Stock Option may be exercised only by the Participant, or by the Participant’s guardian or personal or legal representative. If the Participant’s Termination of Service is due to [his / her] death prior to the dates specified in Section 4.a. hereof, and the Participant has not exercised the Stock Option as to the maximum number of vested Optioned Shares as set forth in Section 3 hereof as of the date of death, the following persons may exercise the exercisable portion of the Stock Option on behalf of the Participant at any time prior to the earliest of the dates specified in Section 4.a. hereof: the personal representative of [his / her] estate, estate or the person who acquired the right to exercise the Stock Option by bequest or inheritance or by reason of the death of the Participant; provided that the Stock Option shall remain subject to the other terms of this Agreement, the Plan, and Applicable Laws, rules, and regulations.

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (Alliqua BioMedical, Inc.), Nonqualified Stock Option Agreement (Alliqua BioMedical, Inc.)

Who May Exercise. Subject to the terms and conditions set forth in Sections 3 and 4 above, during the lifetime of the Participant, the Stock Option may be exercised only by the Participant, or by the Participant’s guardian or personal or legal representative. If the Participant’s Termination of Service is due to [his / her] or her death prior to the dates specified in Section 4.a. hereof, and the Participant has not exercised the Stock Option as to the maximum number of vested Optioned Shares ADSs as set forth in Section 3 hereof as of the date of his or her death, the following persons may exercise the exercisable portion of the Stock Option on behalf of the Participant at any time prior to the earliest of the dates specified in Section 4.a. hereof: the personal representative of [his / her] estate, or her estate or the person who acquired the right to exercise the Stock Option by bequest or inheritance or by reason of the death of the Participant; provided that the Stock Option shall remain subject to the other terms of this Agreement, the Plan, and Applicable Lawsall applicable laws, rules, and regulations.

Appears in 1 contract

Samples: Award Plan (RedHill Biopharma Ltd.)

Who May Exercise. Subject to the terms and conditions set forth in Sections 3 and 4 above, during the lifetime of the Participant, the this Stock Option may be exercised only by the Participant, Participant or by the Participant’s guardian or personal or legal representative's guardian. If the Participant’s Termination 's employment terminates as a result of Service is due to [his / her] death or Total and Permanent Disability prior to the dates termination date specified in Section 4.a. hereof, 4(a) hereof and the Participant has not exercised the this Stock Option as to the maximum number percentage of vested Optioned Shares as set forth in Section 3 hereof as of the date of deathdeath or Total and Permanent Disability, the following persons may exercise the exercisable portion of the this Stock Option on behalf of the Participant at any time prior to the earliest earlier of the dates specified in Section 4.a. Sections 4(a) or (b) hereof: (i) if the Participant is disabled, the guardian of the Participant; or (ii) if the Participant dies, the personal representative of [his / her] estate, or the person who acquired the right to exercise the this Stock Option by bequest or inheritance or by reason of the death of the Participant; provided that the this Stock Option shall remain subject to the other terms of this Agreement, the Plan, and Applicable Lawsapplicable laws, rules, and regulations.

Appears in 1 contract

Samples: Employee Award Agreement (Venus Exploration Inc)

Who May Exercise. Subject to the terms and conditions set forth in Sections 3 and 4 SECTIONS 4, 5 AND 6 above, during the lifetime of the Participant, the this Stock Option may be exercised only by the Participant, Participant or by the Participant’s guardian or personal or legal representative's guardian. If the Participant’s a Termination of Service is due to [his / her] of the Participant occurs as a result of death or Disability prior to the dates termination date specified in Section 4.a. hereof, SECTION 6(A) hereof and the Participant has not exercised the this Stock Option as to the maximum number percentage of vested Optioned Shares as set forth in Section 3 SECTION 4 hereof as of the date of deathdeath or Disability, the following persons may exercise the exercisable portion of the this Stock Option on behalf of the Participant at any time prior to the earliest earlier of the dates specified in Section 4.a. SECTIONS 6(A) OR (B) hereof: (i) if the Participant is disabled, the guardian of the Participant; or (ii) if the Participant dies, the personal representative of [his / her] estate, or the person who acquired the right to exercise the this Stock Option by bequest or inheritance or by reason of the death of the Participant; provided that the this Stock Option shall remain subject to the other terms of this Agreement, the Plan, and Applicable Lawsapplicable laws, rules, and regulations.

Appears in 1 contract

Samples: Corrida Resources Inc

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Who May Exercise. Subject to the terms and conditions set forth in Sections 3 and 4 above, during the lifetime of the Participant, the Stock Option may be exercised only by the Participant, or by the Participant’s guardian or personal or legal representative. If the Participant’s Termination of Service is due to [his / her] or her death prior to the dates specified in Section 4.a. 4(a) hereof, and the Participant has not exercised the Stock Option as to the maximum number of vested Optioned Shares as set forth in Section 3 hereof as of the date of death, the following persons may exercise the exercisable portion of the Stock Option on behalf of the Participant at any time prior to the earliest of the dates specified in Section 4.a. 4(a) hereof: the personal representative of [his / her] or her estate, or the person who acquired the right to exercise the Stock Option by bequest or inheritance or by reason of the death of the Participant; provided that the Stock Option shall remain subject to the other terms of this Agreement, the Plan, and Applicable Laws, rules, and regulations.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Paltalk, Inc.)

Who May Exercise. Subject to the terms and conditions set forth in Sections 3 and 4 above, during the lifetime of the Participant, the Stock Option may be exercised only by the Participant, or by the Participant’s guardian or personal or legal representative. If the Participant’s Termination of Service is due to [his / her] or her death prior to the dates specified in Section 4.a. hereof, and the Participant has not exercised the Stock Option as to the maximum number of vested Optioned Shares as set forth in Section 3 hereof as of the date of his or her death, the following persons may exercise the exercisable portion of the Stock Option on behalf of the Participant at any time prior to the earliest of the dates specified in Section 4.a. hereof: the personal representative of [his / her] estate, or her estate or the person who acquired the right to exercise the Stock Option by bequest or inheritance or by reason of the death of the Participant; provided that the Stock Option shall remain subject to the other terms of this Agreement, the Plan, and Applicable Lawsall applicable laws, rules, and regulations.

Appears in 1 contract

Samples: Award Plan (RedHill Biopharma Ltd.)

Who May Exercise. Subject to the terms and conditions set forth in Sections 2 and 3 and 4 above, during the lifetime of the ParticipantOptionee, the Stock Option may be exercised only by the ParticipantOptionee, or by the ParticipantOptionee’s guardian or personal or legal representative. If the ParticipantOptionee’s Termination termination of Service service is due to [his / or her] death prior to the dates specified in Section 4.a3.a. hereof, and the Participant Optionee has not exercised the Stock Option as to the maximum number of vested Optioned Shares as set forth in Section 3 2 hereof as of the date of [his or her] death, the following persons may exercise the exercisable portion of the Stock Option on behalf of the Participant Optionee at any time prior to the earliest of the dates specified in Section 4.a3.a. hereof: the personal representative of [his / or her] estate, or the person who acquired the right to exercise the Stock Option by bequest or inheritance or by reason of the death of the Participant; Optionee, provided that the Stock Option shall remain subject to the other terms of this Agreement, the Plan, Agreement and Applicable Lawsapplicable laws, rules, and regulations.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Alliqua, Inc.)

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