Exercise in Event of Death or Disability. Whenever the word "Employee" is used in any provision of this Agreement under circumstances when the provision should logically be construed to apply to the Employee's guardian, legal representative, executor, administrator, or the person or persons to whom the Option may be transferred by testamentary will or by the laws of descent and distribution, the word "Employee" shall be deemed to include such person or persons.
Appears in 6 contracts
Samples: Stock Option Agreement (Celtic Investment Inc), Stock Option Agreement (Celtic Investment Inc), Stock Option Agreement (Celtic Investment Inc)
Exercise in Event of Death or Disability. Whenever the word "Employee" is used in any provision of this Agreement under circumstances when the provision should logically be construed to apply to the Employee's guardian, legal representative, executor, administrator, or the person or persons to whom the Option may be transferred by testamentary will or by the laws of descent and distribution, the word "Employee" shall be deemed to include such person or persons.
Appears in 3 contracts
Samples: Stock Option Agreement (Celtic Investment Inc), Stock Option Agreement (Celtic Investment Inc), Stock Option Agreement (Celtic Investment Inc)