Rights in the Event of Death. If you die while in the service of the Company and its Affiliates, your Option will immediately vest and the Option shall remain exercisable for a period of five years from the date of your death (but may not be exercised later than the last day of the original Option Term) by the person who becomes entitled to exercise your Option after your death (whether by will or by the laws of descent and distribution, or by means of a written beneficiary designation you filed with the Stock Administration Department before your death).
Appears in 6 contracts
Samples: Nonqualified Stock Option Agreement (WPX Energy, Inc.), Nonqualified Stock Option Agreement (Williams Companies Inc), Nonqualified Stock Option Agreement (Williams Companies Inc)
