Death Disability Clause Example with 4 Variations from Business Contracts

Death Disability. Unless otherwise determined Subject to any greater restrictions or limitations as may be imposed by the Board or Compensation Committee upon the granting of any Option or by a written agreement: SAR: (a) If the holder of an Option or SAR ceases to be employed by the Company and all Related Corporations by reason of his death, any Options or SARs held by the optionee of such employee may be exercised to the extent of the number of shares with respect to which he could have exercised it on the dat...e of his death, by his estate, personal representative or beneficiary who has acquired the Options or SARs by will or by the laws of descent and distribution, at any time prior to the earlier of: (i) of the Options' or SARs' specified expiration date or (ii) one year (except three months for an ISO) from the date of the grantee's death. (b) If the holder of an Option or SAR ceases to be employed by the Company and all Related Corporations, Company, or a director or Director Advisor can no longer perform his duties, by reason of his Disability, he shall have the right to exercise any Options Option or SARs held by the optionee may be exercised to the extent he could have exercised it him on the date of termination due of employment or ceasing to Disability act as a director until the earlier of (i) the Options' or SARs' specified expiration date or (ii) one year from the date of the termination. termination of the person's employment or ceasing to act as a director. View More

Death Disability. Unless otherwise determined by the Board or Compensation Committee or by a written agreement: (a) If the holder of an Option or SAR ceases to be employed by the Company and all Related Corporations by reason of his death, any Options or SARs held by the optionee may be exercised to the extent he could have exercised it on the date of his death, by his estate, personal representative or beneficiary who has acquired the Options or SARs by will or by the laws of descent and distribution, at any tim...e prior to the earlier of: (i) the Options' or SARs' SARs specified expiration date or (ii) one year (except three months for an ISO) from the date of death. (b) If the holder of an Option or SAR ceases to be employed by the Company and all Related Corporations, or a director or Director Advisor Officer can no longer perform his duties, by reason of his Disability, any Options or SARs held by the optionee may be exercised to the extent he could have exercised it on the date of termination due to Disability until the earlier of (i) the Options' or SARs' specified expiration date or (ii) one year from the date of the termination. 8 12. Assignment, Transfer or Sale. (a) No ISO granted under this Plan shall be assignable or transferable by the grantee except by will or by the laws of descent and distribution, and during the lifetime of the grantee, each ISO shall be exercisable only by him or his guardian or legal representative. (b) Except for ISOs, all Stock Rights are transferable subject to compliance with applicable securities laws and Section 6 of this Plan. View More

Death Disability. Unless otherwise determined by the Board or Compensation Committee or by a written agreement: (a) If the holder of an Option or SAR ceases to be employed by the Company and all Related Corporations by reason of his death, any Options or SARs held by the optionee may be exercised to the extent he could have exercised it on the date of his death, by his estate, personal representative or beneficiary who has acquired the Options or SARs by will or by the laws of descent and distribution, at any tim...e prior to the earlier of: (i) the Options' or SARs' specified expiration date or (ii) one year (except three months for an ISO) from the date of death. (b) If the holder of an Option or SAR ceases to be employed by the Company and all Related Corporations, or a director or Director Advisor can no longer perform his duties, by reason of his Disability, any Options or SARs held by the optionee may be exercised to the extent he could have exercised it on the date of termination due to Disability until the earlier of (i) the Options' or SARs' specified expiration date or (ii) one year from the date of the termination. 8 12. Assignment, Transfer or Sale. (a) No ISO granted under this Plan shall be assignable or transferable by the grantee except by will or by the laws of descent and distribution, and during the lifetime of the grantee, each ISO shall be exercisable only by him, his guardian or legal representative. (b) Except for ISOs, all Stock Rights are transferable subject to compliance with applicable securities laws and Section 6 of this Plan. View More

Death Disability. Unless otherwise determined by the Board or Compensation Committee or by a written agreement: (a) If the holder of an Option or SAR ceases to be employed by the Company and all Related Corporations by reason of his death, any Options or SARs held by the optionee may be exercised to the extent he they could have exercised it on the date of his their death, by his their estate, personal representative or beneficiary who has acquired the Options or SARs by will or by the laws of descent and distrib...ution, at any time prior to the earlier of: (i) the Options' or SARs' SARs specified expiration date or (ii) one year (except three months for an ISO) from the date of death. (b) If the holder of an Option or SAR ceases to be employed by the Company and all Related Corporations, Company, or a director or Director Advisor Officer can no longer perform his their duties, by reason of his Disability, any Options or SARs held by the optionee may be exercised to the extent he they could have exercised it on the date of termination due to Disability until the earlier of (i) the Options' or SARs' specified expiration date or (ii) one year from the date of the termination. View More