Exercise After Termination of Service. Termination of Service for any reason other than death: if non-vested, the Option expires immediately and if vested, the Option remains exercisable for thirty (30) days following the Optionee’s Termination of Service with the Board. Termination of Service due to death: the entire Option, whether vested or non-vested, is exercisable by the Optionee’s Beneficiary for six (6) months after the Optionee’s Termination of Service. In no event may this Option be exercised after the Expiration Date as provided above. By signing below, the Optionee agrees that this Non-Qualified Stock Option Award is granted under and governed by the terms and conditions of the Plan and this Agreement. Optionee Universal Insurance Holdings, Inc. By: Title: Date: Date:
Appears in 4 contracts
Samples: Director Services Agreement (Universal Insurance Holdings, Inc.), Director Services Agreement (Universal Insurance Holdings, Inc.), Director Services Agreement (Universal Insurance Holdings, Inc.)
