Exercise Period Upon Death or Disability. If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant, or if the Participant dies within three (3) months after he or she ceases to be an Eligible Participant and the Company has not terminated such relationship for “cause” as specified in paragraph (f) below, this option shall become exercisable, within the period of one (1) year following the date of death or disability of the Participant by the Participant or by the person(s) to whom this option is transferred by will or the laws of descent and distribution, provided that, this option shall be exercisable only to the extent that this option was exercisable by the Participant on the date of his or her death or disability. Except as otherwise indicated by the context, the term “Participant”, as used in this option, shall be deemed to include the estate of the Participant or any person who acquires the right to exercise this option by bequest or inheritance or otherwise by reason of the death of the Participant.
Appears in 12 contracts
Samples: Non Qualified Stock Option Agreement (Epresence Inc), Non Qualified Stock Option Agreement (Switchboard Inc), Non Qualified Stock Option Agreement (Epresence Inc)
Exercise Period Upon Death or Disability. If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant, or if the Participant dies within three (3) months after he or she ceases to be an Eligible Participant and the Company has not terminated such relationship for “cause” as specified in paragraph (fe) below, this option shall become exercisable, within the period of one (1) year following the date of death or disability of the Participant by the Participant or by the person(s) to whom this option is transferred by will or the laws of descent and distribution, provided that, this option shall be exercisable only to the extent that this option was exercisable by the Participant on the date of his or her death or disability. Except as otherwise indicated by the context, the term “Participant”, as used in this option, shall be deemed to include the estate of the Participant or any person who acquires the right to exercise this option by bequest or inheritance or otherwise by reason of the death of the Participant.
Appears in 6 contracts
Samples: Stock Option Agreement (Switchboard Inc), Stock Option Agreement (Switchboard Inc), Stock Option Agreement (Switchboard Inc)
Exercise Period Upon Death or Disability. If the Participant Optionee dies or ---------------------------------------- becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Expiration Date while he or she is an Eligible Participantemployee of the Company, or if the Participant Optionee dies within three (3) months after he or she the Optionee ceases to be an Eligible Participant and employee of the Company has not terminated such relationship (other than as the result of a discharge for “"cause” " as specified in paragraph (f) below), this option Option shall become be exercisable, within the period of one (1) year following the date of death or disability of the Participant Optionee (but in no event after the Expiration Date), by the Participant Optionee or by the person(s) person to whom this option Option is transferred by will or the laws of descent and distribution, provided that, that this option Option shall be exercisable only to the extent that this option was exercisable by the Participant Optionee on the date of his or her death or disability. Except as otherwise indicated by the context, the term “Participant”"Optionee", as used in this optionOption, shall be deemed to include the estate of the Participant Optionee or any person who acquires the right to exercise this option Option by bequest or inheritance or otherwise by reason of the death of the ParticipantOptionee.
Appears in 1 contract
Exercise Period Upon Death or Disability. If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant, or if the Participant dies within three (3) months after he or she ceases to be an Eligible Participant and the Company has not terminated such relationship for “"cause” " as specified in paragraph (f) below, this option shall become exercisable, within the period of one (1) year following the date of death or disability of the Participant by the Participant or by the person(s) to whom this option is transferred by will or the laws of descent and distribution, provided that, this option shall be exercisable only to the extent that this option was exercisable by the Participant on the date of his or her death or disability. Except as otherwise indicated by the context, the term “"Participant”", as used in this option, shall be deemed to include the estate of the Participant or any person who acquires the right to exercise this option by bequest or inheritance or otherwise by reason of the death of the Participant.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Switchboard Inc)
Exercise Period Upon Death or Disability. If the Participant dies or ---------------------------------------- becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant, or if the Participant dies within three (3) months after he or she ceases to be an Eligible Participant and the Company has not terminated such relationship for “"cause” " as specified in paragraph (f) below, this option shall become exercisable, within the period of one (1) year following the date of death or disability of the Participant by the Participant or by the person(s) to whom this option is transferred by will or the laws of descent and distribution, provided that, this option shall be exercisable only to the extent that this option was exercisable by the Participant on the date of his or her death or disability. Except as otherwise indicated by the context, the term “"Participant”", as used in this option, shall be deemed to include the estate of the Participant or any person who acquires the right to exercise this option by bequest or inheritance or otherwise by reason of the death of the Participant.
Appears in 1 contract
Samples: Switchboard Inc