Termination of SAR. (a) If the Grantee shall cease, for reason of death, to be an employee or a director of the Company during the term of this Agreement, the Successor of the Grantee may exercise the SAR until the earlier of (i) the expiration of the term of the SAR; or (ii) 30 days after the date of death of Xxxxxxx.
Appears in 2 contracts
Samples: Sar Agreement for Employee Directors (Texas Industries Inc), Sar Agreement for Employee Directors (Texas Industries Inc)
Termination of SAR. (a) If the Grantee shall cease, for reason of death, to be an employee or a director of the Company during the term of this Agreementthe SAR, the Successor of the Grantee may exercise the SAR until the earlier of (i) the expiration of the term of the SAR; or (ii) 30 days after a period not to exceed one (1) year following such cessation of service as an employee or a director of the date of death of XxxxxxxCompany whichever the later shall occur.
Appears in 1 contract
Samples: Sar Agreement for Employee Directors (Texas Industries Inc)
Termination of SAR. (a) If the Grantee shall cease, for reason of death, to be an employee or a director Director of the Company during the term of this Agreementthe SAR, the Grantee or Successor of the Grantee may exercise the SAR until the earlier of (i) the expiration of the term of the SAR; or (ii) 30 days after a period not to exceed one (1) year following such cessation of service as a Director of the date of death of XxxxxxxCompany.
Appears in 1 contract
Samples: Sar Agreement for Non Employee Directors (Texas Industries Inc)
