Termination as a Result of Death. If your employment terminates by reason of your death at a time when your employment could not otherwise have been terminated for Cause (defined below), then your estate or your beneficiary, or such other person or persons as may acquire your rights under this Option by will or by the laws of descent and distribution, may exercise the vested portion of this Option until the first anniversary of such termination of employment.
Appears in 2 contracts
Samples: Stock Option Award Agreement (Imperial Holdings, Inc.), Stock Option Award Agreement (Imperial Holdings, LLC)
Termination as a Result of Death. If your employment or service terminates by reason of your death (at a time when your employment you could not otherwise have been terminated for Cause (defined belowCause), then your estate or your beneficiary, or such other person or persons as may acquire your rights under this Option by will or by the laws of descent and distribution, may exercise the vested portion of this Option until the first anniversary of such termination of employmentemployment or service (or until such longer or shorter period as the Administrator may in its sole discretion determine).
Appears in 2 contracts
Samples: Stock Option Agreement (Cummins Inc), Stock Option Agreement (Cummins Inc)
Termination as a Result of Death. If your employment or service with the Company terminates by reason of your death at a time when your employment or service could not otherwise have been terminated for Cause (defined below), then your estate or your beneficiary, or such other person or persons as may acquire your rights under this Option by will or by the laws of descent and distribution, may exercise the vested portion of this Option until the first anniversary earlier of: (i) the Expiration Date, or (ii) the date that is twelve (12) months after the date of such termination of employmentyour employment or service by reason of your death.
Appears in 1 contract
Samples: Share Option Award Agreement (OXBRIDGE RE HOLDINGS LTD)
Termination as a Result of Death. If your employment or service with the Company terminates by reason of your death at a time when your employment or service could not otherwise have been terminated for Cause (defined below), then your estate or your beneficiary, or such other person or persons as may acquire your rights under this Option by will or by the laws of descent and distribution, may exercise the vested portion of this Option until the first anniversary of such termination of employment.earlier of: (i) the
Appears in 1 contract
Samples: Share Option Award Agreement (OXBRIDGE RE HOLDINGS LTD)
