Exercise Upon Death. If the Director dies while still a member of the Board of Directors of the Company or within one (1) year after the Director's service as a director of the Company has terminated, the Option may be exercised to the extent the Director would have been entitled under Section 3 hereof to exercise the option on the day next preceding the date of his death, by the estate of the deceased Director, or by any person who acquired the right to exercise the Option by bequest or inheritance or by reason of the death of the Director, at any time within six (6) months after his death, at the end of which period the option shall terminate. Such period shall in no event extend the date of exercise of the Option beyond the term thereof as provided in Section 4.
Exercise Upon Death. In the event that Grantee ceases to be affiliated with the Corporation or its subsidiaries (either as an employee or director) by reason of death, the option may thereafter be exercised as to all shares subject to the option by the legal representative of the estate or by the person or persons entitled to the option under the Grantee’s will or the laws of descent and distribution, as appropriate, until the earlier of (i) the expiration of the stated term of the option or (ii) the first anniversary of the date of the Grantee’s death.
Exercise Upon Death. In the event that Employee ceases to be employed by Corporation or its subsidiaries by reason of death, the option shall become immediately exercisable, notwithstanding the schedule in Section 2(b) hereof, and may thereafter be exercised as to all shares subject to the option by the legal representative of the estate or by the person or persons entitled to the option under the Employee's will or the laws of descent and distribution, as appropriate, until the earlier of (i) the Expiration Date or (ii) the first anniversary of the date of the Employee's death.
Exercise Upon Death. The Option of an Optionee who dies before the Option has been exercised, as to all vested Shares, may be exercised until the expiration date of the Option by the Optionee's estate or by the person who acquired the right to exercise the Option by bequest or inheritance by reason of the death of the Optionee.
Exercise Upon Death. If Employee dies while the Option remains in effect, the Option may be exercised (to the extent that Employee shall have been entitled to do so at the date of his death) by the legatee or legatees of Employee under his will, or by his personal representatives or distributees, at any time within ninety (90) days after his death. Upon the expiration of such ninety (90) day period, or, if earlier, upon the expiration date of the Option as set forth in paragraph 3 hereof, the Option shall become null and void.
Exercise Upon Death. If Director dies while the Option remains in effect, with or without cause, the Option may be exercised (to the extent that Director shall have been entitled to do so on the day of his death) by the legatee or legatees of Director under his will, or by his personal representatives or distributees, at anytime within ninety (90) days after his death. Upon the expiration of such ninety (90) day period, or, if earlier, upon the expiration date of the Option as set forth in Paragraph 3 hereof, the Option shall become null and void.
Exercise Upon Death. If the Participant dies while holding an exercisable Option, such Option shall remain exercisable by his or her estate (or other beneficiaries, as designated in writing by such Participant) until the end of the exercise period under the Option,
Exercise Upon Death. If the Participant dies while holding an outstanding Option, such Option, to the extent exercisable (and not exercised) on the date of his death, shall remain so exercisable by his estate (or other beneficiaries, as designated in writing by such Participant) until the end of the exercise period under the Option, unless the Committee shall otherwise provide at the time of the grant of the option. So long as there has been no Initial Public Offering and subject to any restrictions or conditions set forth in applicable credit and other financing agreements of the Corporation and to applicable law: (i) with respect to any outstanding Option exercisable by the estate or beneficiary of the deceased Participant, such estate or beneficiary shall have the right to sell to the Corporation during the one year period following the date of death of the Participant, and the Corporation shall have the obligation to purchase, such Option at the then Fair Market Value of a share of Class A Stock less the exercise price; and (ii) with respect to shares of Class A Stock held of record or beneficially by the estate or beneficiary of the deceased Participant through the exercise of such Option, such estate or beneficiary shall have the right to sell to the Corporation during the one year period following the date of death of the Participant, and the Corporation shall have the obligation to purchase, such shares at their then Fair Market Value. Notwithstanding the foregoing provisions of this Section 7, at any time during the one year period following the date of death of the Participant, the Corporation shall have the right in its sole discretion to purchase, and the estate or beneficiary of the deceased Participant shall have the obligation to sell to the Corporation (i) any outstanding Option exercisable by the estate or beneficiary at the then Fair Market Value of a share of Class A Stock less the exercise price; and (ii) any shares of Class A Stock held of record
Exercise Upon Death. If Optionee shall die, this option may be exercised with respect to any vested options at the date of death to the same extent that Optionee was entitled to exercise such options, by the person or persons to whom Optionee's rights under this option pass by will or applicable law, or if no such person has such right, by his executors or administrators. 5.
Exercise Upon Death. If the Employee dies while she is employed by the Corporation or by any Parent or Subsidiary and on or after the first date upon which she would have
