Common use of Classification of Shares After Death of a Spouse Clause in Contracts

Classification of Shares After Death of a Spouse. After the death of the spouse ("Deceased Spouse") of Employee, either Corporation or Employee (Employee as the case may be, hereinafter referred to as the "Surviving Spouse") may request that the personal representative of the Estate of the Deceased Spouse petition the Court having jurisdiction over the Estate of the Deceased Spouse for an order under the Wisconsin Statutes determining the classification of the Shares of Corporation titled in either the surviving spouse or deceased spouse for purposes of the Wisconsin Marital Property Law. Upon receipt of the Court's order, such personal representative shall provide Corporation and the Surviving Spouse with a true and accurate copy thereof, Such request shall be made by written notice and the personal representative of the Estate of the Deceased Spouse shall take the actions requested promptly upon receipt of such notice.