Common use of Termination of Employment; Death Clause in Contracts

Termination of Employment; Death. If there is a Termination of Service of the Holder by reason of death, this Nonqualified Stock Option shall immediately vest in full, and shall be exercisable by the Holder's legal representatives, legatees, or distributes for three (3) years following the date of the Termination of Service, and thereafter this Nonqualified Stock Option shall terminate and cease to be exercisable.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Applebees International Inc)

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Termination of Employment; Death. If there is a Termination of Service of the Holder by reason of death, this Nonqualified Incentive Stock Option shall immediately vest in full, and shall be exercisable by the Holder's legal representatives, legatees, or distributes for three (3) years following the date of the Termination of Service, and thereafter this Nonqualified Incentive Stock Option shall terminate and cease to be exercisable.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Applebees International Inc)

Termination of Employment; Death. If there is a Termination of Service of the Holder by reason of death, this Nonqualified Incentive Stock Option shall immediately vest in full, and shall be exercisable by the Holder's legal representatives, legatees, or distributes distributees for three one (31) years year following the date of the Termination Holder's death to the extent this Incentive Stock Option is exercisable on the Holder's date of Servicedeath, and thereafter this Nonqualified Incentive Stock Option shall terminate and cease to be exercisable.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Applebees International Inc)

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Termination of Employment; Death. If there is a Termination of Service of the Holder by reason of death, this Nonqualified Stock Option shall immediately vest in full, and shall be exercisable by the Holder's legal representatives, legatees, or distributes for three one (31) years year following the date of the Termination of Service, to the extent this Nonqualified Stock Option is exercisable on the date of such Termination of Service, and thereafter this Nonqualified Stock Option shall terminate and cease to be exercisable.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Applebees International Inc)

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