Common use of Termination of Employment by Reason of Death Clause in Contracts

Termination of Employment by Reason of Death. If Optionee's -------------------------------------------- employment with the Company and/or any Subsidiary terminates by reason of death, then the Option shall immediately become exercisable in full (notwithstanding Section 2 above), and the Option may thereafter be exercised, in whole or in part, by the legal representative of the estate or by the legatee of Optionee under the will of Optionee, for a period of three (3) years from the date of death or until the expiration of the Option Term, whichever period is the shorter.

Appears in 7 contracts

Samples: Non Qualified Stock Option Agreement (Alabama National Bancorporation), Non Qualified Stock Option Agreement (Alabama National Bancorporation), Non Qualified Stock Option Agreement (Alabama National Bancorporation)

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Termination of Employment by Reason of Death. If Optionee's -------------------------------------------- ’s employment with the Company and/or any Subsidiary terminates by reason of death, then the Option shall immediately become exercisable in full (notwithstanding Section 2 above), and the Option may thereafter be exercised, in whole or in part, by the legal representative of the estate or by the legatee of Optionee under the will of Optionee, for a period of three one (31) years year from the date of death or until the expiration of the Option Term, whichever period is the shorter.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Computer Programs & Systems Inc)

Termination of Employment by Reason of Death. If Optionee's employment -------------------------------------------- employment with the Company and/or any Subsidiary terminates by reason of death, then the Option shall immediately become exercisable in full (notwithstanding Section 2 above), and the Option may thereafter be exercised, in whole or in part, by the legal representative of the estate or by the legatee of Optionee under the will of Optionee, for a period of three (3) years from the date of death or until the expiration of the Option Term, whichever period is the shorter.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Alabama National Bancorporation)

Termination of Employment by Reason of Death. If Optionee's employment -------------------------------------------- employment with the Company and/or any Subsidiary terminates by reason of death, then the Option shall immediately become exercisable in full (notwithstanding Section 2 above), and the Option may thereafter be exercised, in whole or in part, by the legal representative of the estate or by the legatee of Optionee under the will of Optionee, for a period of three one (31) years year from the date of death or until the expiration of the Option Term, whichever period is the shorter.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Computer Programs & Systems Inc)

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Termination of Employment by Reason of Death. If Optionee's -------------------------------------------- ’s employment with the Company and/or any Subsidiary terminates by reason of death, then the Option shall immediately become exercisable in full (notwithstanding Section 2 above), and the Option may thereafter be exercised, in whole or in part, by the legal representative of the estate or by the legatee of Optionee under the will of Optionee, for a period of three (3) years from the date of death or until the expiration of the Option Term, whichever period is the shorter.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Alabama National Bancorporation)

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