Common use of Death of Grantee Clause in Contracts

Death of Grantee. If the Grantee shall die during the term of this Option, the Grantee's legal representative or representatives, or the person or persons entitled to do so under the Grantee's last will and testament or under applicable intestate laws, shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof on the date of his death, and such right shall expire and this Option shall terminate one (1) year after the date of the Grantee's death or on the expiration date of this Option, whichever date is sooner. In all other respects, this Option shall terminate upon such death.

Appears in 43 contracts

Samples: Stock Option Agreement, Stock Option Agreement, Employment Agreement (Imaging Diagnostic Systems Inc /Fl/)

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Death of Grantee. If the Grantee shall die during the term of while this OptionOption remains exercisable, the Grantee's legal representative or representatives, representatives or the person or persons entitled to do so under the Grantee's last will and testament or under applicable intestate laws, laws shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof might have been exercised on the date of his the Grantee's death, and such right shall expire and this Option shall terminate one (1) year after the date of the Grantee's death or on the expiration date of this Option, whichever date is soonerearlier. In all other respects, this Option shall terminate upon such death.

Appears in 12 contracts

Samples: Executive Stock Option Agreement (Cambridge Energy Corp), Stock Option Agreement (Nutek Oil Inc.), Stock Option Agreement (GreenStart, Inc.)

Death of Grantee. If the Grantee shall die during the term of while this OptionOption remains exercisable, the Grantee's legal representative or representatives, representatives or the person or persons entitled to do so under the Grantee's last will and testament or under applicable intestate laws, laws shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof might have been exercised on the date of his the Grantee's death, and such right shall expire and this Option shall terminate one (1) year five years after the date of the Grantee's death or on the expiration date of this Option, whichever date is soonerearlier. In all other respects, this Option shall terminate upon such death.

Appears in 8 contracts

Samples: Stock Option Agreement (Envirokare Tech Inc), Stock Option Agreement (Envirokare Tech Inc), Stock Option Agreement (Envirokare Tech Inc)

Death of Grantee. If the Grantee shall die during the term of this Option, the Grantee's ’s legal representative or representatives, or the person or persons entitled to do so under the Grantee's ’s last will and testament or under applicable intestate laws, shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof on the date of his her death, and such right shall expire and this Option shall terminate one (1) year 15 months after the date of the Grantee's ’s death or on the expiration date Expiration Date of this Option, whichever date is sooner. In all other respects, this Option shall terminate upon such death.

Appears in 5 contracts

Samples: Employment Agreement (Imaging Diagnostic Systems Inc /Fl/), Employment Agreement (Imaging Diagnostic Systems Inc /Fl/), Employment Agreement (Imaging Diagnostic Systems Inc /Fl/)

Death of Grantee. If the Grantee is an individual and shall die during the term of while this OptionOption remains exercisable, the Grantee's legal representative or representatives, representatives or the person or persons entitled to do so under the Grantee's last will and testament or under applicable intestate laws, laws shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof might have been exercised on the date of his the Grantee's death, and such right shall expire and this Option shall terminate one (1) year five years after the date of the Grantee's death or on the expiration date of this Option, whichever date is soonerearlier. In all other respects, this Option shall terminate upon such death.

Appears in 3 contracts

Samples: Stock Option Agreement (New Global Energy, Inc.), Stock Option Agreement (New Global Energy, Inc.), Stock Option Agreement (New Global Energy, Inc.)

Death of Grantee. If the Grantee shall die during the term of this Option, the Grantee's ’s legal representative or representatives, or the person or persons entitled to do so under the Grantee's ’s last will and testament or under applicable intestate laws, shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof on the date of his death, and such right shall expire and this Option shall terminate one (1) year after the date of the Grantee's ’s death or on the expiration date of this Option, whichever date is sooner. In all other respects, this Option shall terminate upon such death.

Appears in 3 contracts

Samples: Stock Option Agreement (Lucid Inc), Directors Stock Option Agreement (American Access Technologies Inc), Employee Stock Option Agreement (American Access Technologies Inc)

Death of Grantee. If the Grantee shall die during the term of while this OptionOption remains exercisable, the Grantee's legal representative or representatives, representatives or the person or persons entitled to do so under the Grantee's last will and testament or under applicable intestate laws, laws shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof on the date of his death, and such right shall expire and this Option shall terminate one (1) year after the date of the Grantee's death or on the expiration date of this Option, whichever date is soonerearlier. In all other respects, this Option shall terminate upon such death.

Appears in 3 contracts

Samples: Non Qualified Stock Option Agreement (Big Buck Brewery & Steakhouse Inc), Non Qualified Stock Option Agreement (Big Buck Brewery & Steakhouse Inc), Non Qualified Stock Option Agreement (Big Buck Brewery & Steakhouse Inc)

Death of Grantee. If the Grantee shall die during the term of this Option, the Grantee's ’s legal representative or representatives, or the person or persons entitled to do so under the Grantee's ’s last will and testament or under applicable intestate laws, shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof on the date of his death, and such right shall expire and this Option shall terminate one (1) year three years after the date of the Grantee's ’s death or on the expiration date of this Option, whichever date is sooner. In all other respects, this Option shall terminate upon such death.

Appears in 2 contracts

Samples: Employment Agreement (Imaging Diagnostic Systems Inc /Fl/), Employment Agreement (Imaging Diagnostic Systems Inc /Fl/)

Death of Grantee. If the Grantee shall die during the term of this Option, the Grantee's ’s legal representative or representatives, or the person or persons entitled to do so under the Grantee's ’s last will and testament or under applicable intestate laws, shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof on the date of his death, and such right shall expire and this Option shall terminate one (1) year 15 months after the date of the Grantee's ’s death or on the expiration date Expiration Date of this Option, whichever date is sooner. In all other respects, this Option shall terminate upon such death.

Appears in 2 contracts

Samples: Employment Agreement (Imaging Diagnostic Systems Inc /Fl/), Employment Agreement (Imaging Diagnostic Systems Inc /Fl/)

Death of Grantee. If the Grantee shall die during the term of this Option, the Grantee's ’s legal representative or representatives, or the person or persons entitled to do so under the Grantee's ’s last will and testament or under applicable intestate laws, shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof on the date of his her death, and such right shall expire and this Option shall terminate one (1) year three years after the date of the Grantee's ’s death or on the expiration date of this Option, whichever date is sooner. In all other respects, this Option shall terminate upon such death.

Appears in 2 contracts

Samples: Employment Agreement (Imaging Diagnostic Systems Inc /Fl/), Employment Agreement (Imaging Diagnostic Systems Inc /Fl/)

Death of Grantee. If the Grantee shall die during the term of this Option, the Grantee's legal representative or representatives, or the person or persons entitled to do so under the Grantee's last will and testament or under applicable intestate lawslaw, shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof on the date of his death, and such right shall expire and this Option shall terminate one (1) year after the date of the Grantee's death or on the expiration date of this Option, whichever date is sooner. In all other respects, this Option shall terminate upon such deathtermination of employment.

Appears in 2 contracts

Samples: Employment Agreement (Spacedev Inc), Employment Agreement (Spacedev Inc)

Death of Grantee. If Unless otherwise provided in an employment agreement with the Company or one of its subsidiaries, if the Grantee shall die during the term of this Option, the Grantee's ’s legal representative or representatives, or the person or persons entitled to do so under the Grantee's ’s last will and testament or under applicable intestate laws, shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof on the date of his death, and such right shall expire and this Option shall terminate one (1) year after the date of the Grantee's ’s death or on the expiration date of this Option, whichever date is sooner. In all other respects, this Option shall terminate upon such death.

Appears in 1 contract

Samples: Employee Incentive Stock Option Agreement (Metalico Inc)

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Death of Grantee. If the Grantee shall die during the term of this Option, the Grantee's legal representative or representatives, or the person or persons entitled to do so under the Grantee's last will and testament or under applicable intestate interstate laws, shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof on the date of his death, and such right shall expire and this Option shall terminate one (1) year after the date of the Grantee's death or on the expiration date of this Option, whichever date is sooner. In all other respects, this Option shall terminate upon such death.

Appears in 1 contract

Samples: Stock Option Agreement (Stan Lee Media Inc)

Death of Grantee. If the Grantee shall die during the term of while this OptionOption remains exercisable, the Grantee's ’s legal representative or representatives, representatives or the person or persons entitled to do so under the Grantee's ’s last will and testament or under applicable intestate laws, laws shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof might have been exercised on the date of his the Grantee’s death, and such right shall expire and this Option shall terminate one (1) year five years after the date of the Grantee's ’s death or on the expiration date of this Option, whichever date is soonerearlier. In all other respects, this Option shall terminate upon such death.

Appears in 1 contract

Samples: Standstill Agreement (Pappas Steve)

Death of Grantee. If the Grantee shall die during the term of this Option, the Grantee's legal representative or representatives, or the person or persons entitled to do so under the Grantee's last will and testament or under applicable intestate laws, shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option option in accordance with Section 2 hereof on the date of his death, and such right shall expire and this Option shall terminate one (1) year after the date of the Grantee's death or on the expiration date of this Option, whichever date is sooner. In all other respects, this Option shall terminate upon such death.

Appears in 1 contract

Samples: Stock Option Agreement (State Street Boston Corp)

Death of Grantee. If the Grantee shall die during the term of this Option, the Grantee's ’s legal representative or representatives, or the person or persons entitled to do so under the Grantee's ’s last will and testament or under applicable intestate laws, shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof on the date of his the Grantee’s death, and such right shall expire and this Option shall terminate one (1) year after the date of the Grantee's ’s death or on the expiration date Expiration Date of this Option, whichever date is sooner. In all other respects, the right to exercise this Option shall terminate upon such death.

Appears in 1 contract

Samples: Employee Stock Option Award Agreement (American Electric Technologies Inc)

Death of Grantee. If the Grantee shall die during the term of this Option, the Grantee's legal representative or representatives, or the person or persons entitled to do so under the Grantee's last will and testament or under applicable intestate laws, shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof on the date of his death, and such right shall expire and this Option shall terminate one three (13) year years after the date of the Grantee's death or on the expiration date of this Option, whichever date is sooner. In all other respects, this Option shall terminate upon such death.

Appears in 1 contract

Samples: Employment Agreement (Imaging Diagnostic Systems Inc /Fl/)

Death of Grantee. If the Grantee shall die during the term of while this OptionOption remains exercisable, the Grantee's legal representative or representatives, representatives or the person or persons entitled to do so under the Grantee's last will and testament or under applicable intestate laws, state laws shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof might have been exercised on the date of his the Grantee's death, and such right shall expire and this Option shall terminate one (1) year five years after the date of the Grantee's death or on the expiration date of this Option, whichever date is soonerearlier. In all other respects, this Option shall terminate upon such death.

Appears in 1 contract

Samples: Stock Option Agreement (Envirokare Tech Inc)

Death of Grantee. If the Grantee shall die during the term of this Option, the Grantee's ’s legal representative or representatives, or the person or persons entitled to do so under the Grantee's ’s last will and testament or under applicable intestate laws, shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in accordance with Section 2 hereof on the date of his death, and such right shall expire and this Option shall terminate one (1) year three years after the date of the Grantee's ’s death or on the expiration date of this OptionExpiration Date, whichever date is sooner. In all other respects, this Option shall terminate upon such death.

Appears in 1 contract

Samples: Stock Option Agreement (Imaging Diagnostic Systems Inc /Fl/)

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