Absence of Beneficiary. In the event of the death of Participant ---------------------- and in the absence of a beneficiary validly designated under the Plan who is living at the time of Participant's death, the Company shall deliver this Option and any Shares pursuant thereto to the executor or administrator of the estate of Participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver this Option and any Shares pursuant thereto to the spouse or to any one or more dependents or relatives of Participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate.
Appears in 7 contracts
Samples: Bales Stock Option Agreement (Mirenco Inc), Mirenco Inc, Mirenco Inc
Absence of Beneficiary. In the event of the death of Participant ---------------------- and in the absence of a beneficiary validly designated under the Plan who is living at the time of Participant's death, the Company shall deliver this Option and any Shares pursuant thereto to the executor or administrator of the estate of Participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver this Option and any Shares pursuant thereto to the spouse or to any one or more dependents or relatives of Participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate.
Appears in 7 contracts
Samples: Stock Option Agreement (Mirenco Inc), Stock Option Agreement (Mirenco Inc), Stock Option Agreement (Mirenco Inc)