Common use of Death of Optionee Clause in Contracts

Death of Optionee. If the Optionee dies while a Service Provider, the Option may be exercised at any time within twelve (12) months following the date of death (but in no event later than the expiration date of this Option as set forth in the Notice of Grant), by the Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall terminate.

Appears in 18 contracts

Samples: Stock Option Agreement (Verisign Inc/Ca), Stock Option Agreement (Sipex Corp), Stand Alone Stock Option Agreement (Pixelworks Inc)

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Death of Optionee. If the Optionee dies while a Service Provider, the Option may be exercised at any time within twelve (12) months following the date of death (but in no event later than the expiration date of this Option as set forth in the Notice of Grant), by the Optionee’s 's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s 's estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall terminate.

Appears in 12 contracts

Samples: Stock Option Agreement (Ista Pharmaceuticals Inc), Stock Option Agreement (Ista Pharmaceuticals Inc), Stock Option Agreement (Cyberonics Inc)

Death of Optionee. If the Optionee dies while a Service Provider, the Option may be exercised at any time within twelve (12) months following the date of death (but in no event later than the expiration date of this Option as set forth in the Notice of Grant), by the Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall will terminate.

Appears in 6 contracts

Samples: Stand Alone Stock Option Agreement (Akesis Pharmaceuticals, Inc.), Stock Option Agreement (Applied Imaging Corp), Stand Alone Stock Option Agreement (Akesis Pharmaceuticals, Inc.)

Death of Optionee. If the Optionee dies while a Service Provider, the ----------------- Option may be exercised at any time within twelve (12) months following the date of death (but in no event later than the expiration date of this Option as set forth in the Notice of Grant), by the Optionee’s 's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s 's estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall terminate.

Appears in 5 contracts

Samples: Stock Option Agreement (Emachines Inc /De/), Stock Option Agreement (Emachines Inc /De/), Employment Agreement (Emachines Inc /De/)

Death of Optionee. If the Optionee dies while a Service Provider, the Option may be exercised at any time within twelve one hundred and eighty (12180) months days following the date of death (but in no event later than the expiration date of this Option as set forth in the Notice of Grant), by the Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall terminate.

Appears in 4 contracts

Samples: Stand Alone Stock Option Agreement (Sipex Corp), Stand Alone Stock Option Agreement (Exar Corp), Stock Option Agreement (Exar Corp)

Death of Optionee. If the Optionee dies while a Service Provider, the Option may be exercised at any time within twelve (12) months following the date of death (but in no event later than the expiration date of this Option as set forth in the Notice of Grant), by the Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall option will terminate.

Appears in 4 contracts

Samples: Stand Alone Stock Option Agreement, Stock Option Agreement (Akesis Pharmaceuticals, Inc.), Stand Alone Stock Option Agreement (Akesis Pharmaceuticals, Inc.)

Death of Optionee. If the Optionee dies while a Service Provider, the Option may be exercised at any time within twelve (12) months (or such longer period of time as provided for in the Employment Agreement) following the date of death (but in no event later than the expiration date of this Option as set forth in the Notice of Grant), by the Optionee’s 's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s 's estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall terminate.

Appears in 3 contracts

Samples: Stock Option Agreement (Solectron Corp), Stock Option Agreement (Solectron Corp), Stock Option Agreement (Solectron Corp)

Death of Optionee. If the Optionee dies while a Service Provider, ----------------- the Option may be exercised at any time within twelve (12) months following the date of death (but in no event later than the expiration date of this Option as set forth in the Notice of Grant), by the Optionee’s 's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s 's estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall terminate.

Appears in 3 contracts

Samples: Stock Option Agreement (Microtune Inc), Stock Option Agreement (Microtune Inc), Stock Option Agreement (Emachines Inc /De/)

Death of Optionee. If the Optionee dies while a Service Provideran Employee, the Option may be exercised at any time within twelve (12) months following the date of death (but in no event later than the expiration date of this Option as set forth in the Notice of Grant), by the Optionee’s 's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s 's estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall terminate.

Appears in 2 contracts

Samples: Stock Option Agreement (Zapme Corp), Stock Option Agreement (Zapme Corp)

Death of Optionee. If In the Optionee dies while a Service Providerevent of the death of Optionee, the Option ----------------- may be exercised at any time within twelve (12) months following the date of Optionee's death (but in no event later than the expiration date of this Option as set forth in the Notice of GrantSection 3 above), by the Optionee’s 's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s 's estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall terminate.

Appears in 2 contracts

Samples: Stock Option Agreement (Openwave Systems Inc), Stock Option Agreement (Software Com Inc)

Death of Optionee. If the Optionee dies while a Service Provideran Employee, the Option may be exercised at any time within twelve (12) months following the date of death (but in no event later than the expiration date of this Option as set forth in the Notice of Grant), by the Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall terminate.

Appears in 2 contracts

Samples: Stock Option Agreement (Sipex Corp), Stock Option Agreement (Exar Corp)

Death of Optionee. If the Optionee dies while a Service Provider, the Option may be exercised at any time within twelve (12) months following the date of death (but in no event later than the expiration date of this Option as set forth in the Notice of GrantGrant or as provided in Section 11(c)), by the Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall will terminate.

Appears in 2 contracts

Samples: Stock Option Agreement (Plantronics Inc /Ca/), Stand Alone Stock Option Agreement (Plantronics Inc /Ca/)

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Death of Optionee. If In the event of the death of an Optionee, the Optionee dies while a Service Provider, the Option may be exercised at any time within twelve (12) months following the date of death (but in no event later than the expiration date of this the term of such Option as set forth in the Notice notice of GrantGxxxx), by the Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Agreement (Arthrocare Corp)

Death of Optionee. If In the event of the death of an Optionee, the Optionee dies while a Service Provider, the Option may be exercised at any time within twelve (12) months following the date of death (but in no event later than the expiration date of this the term of such Option as set forth in the Notice notice of Grant), by the Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Agreement (Arthrocare Corp)

Death of Optionee. If In the Optionee dies while a Service Providerevent of the death of Optionee, the Option may be exercised at any time within twelve (12) months following the date of Optionee's death (but in no event later than the expiration date of this Option as set forth in the Notice of GrantSection 4 above), by the Optionee’s 's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s 's estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Agreement (Zindart LTD)

Death of Optionee. If the Optionee dies while he is a Service Provider, the this Option may be exercised at any time within for a period of twelve (12) months following after the date of death (but in no event later than the expiration date Expiration Date of this Option as set forth in the Notice of Grant), by the Optionee’s 's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, To the extent that the Optionee’s 's estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the this Option within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Agreement (Scansoft Inc)

Death of Optionee. If the Optionee dies while a Service Provider, the Option may be exercised at any time within twelve one hundred and eighty (12180) months days following the date of death (but in no event later than the expiration date of this Option as set forth in the Notice of Grant), by the Optionee’s 's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at the date of death. If, after death, the Optionee’s 's estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Agreement (Sipex Corp)

Death of Optionee. If the Optionee dies while a Service Provider, ----------------- the Option may be exercised at any time within twelve (12) months following the date of death (but in no event later than the expiration date of this Option as set forth in the Notice of Grant), by the Optionee’s 's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option at is vested on the date of death. If, after death, the Optionee’s 's estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Agreement (Rational Software Corp)

Death of Optionee. If In the event of the death of Optionee dies while a Service Providerduring the term of the Option, the Option may be exercised exercised, at any time within twelve (12) months following the date of death (but in no event later than the expiration date of this Option as set forth in the Notice of Grant)death, by the Optionee’s 's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, inheritance but only to the extent that of the Optionee was entitled right to exercise the Option that had accrued at the date of death. If, after death, the If Optionee’s 's estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise such portion of Optionee's Option which has vested and which the Option within Optionee was entitled to exercise in the time specified herein, the Option shall terminate.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Consolidated Capital of North America Inc)

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