Effect on Options of Death While an Employee Director or Consultant Contract Clauses (74)

Grouped Into 2 Collections of Similar Clauses From Business Contracts

This page contains Effect on Options of Death While an Employee Director or Consultant clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Effect on Options of Death While an Employee Director or Consultant. Except as otherwise provided in a Participant's Option Agreement: (a) In the event of the death of a Participant while the Participant is an Employee, director or Consultant of the Company or of an Affiliate, such Option may be exercised by the Participant's Survivors: (i) To the extent that the Option has become exercisable but has not been exercised on the date of death; and (ii) In the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the dat...e of death of any additional vesting rights that would have accrued on the next vesting date had the Participant not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Participant's date of death. (b) If the Participant's Survivors wish to exercise the Option, they must take all necessary steps to exercise the Option within one year after the date of death of such Participant, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if he or she had not died and had continued to be an Employee, director or Consultant or, if earlier, within the originally prescribed term of the Option. View More
Found in XpresSpa Group, Inc. contract
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Effect on Options of Death While an Employee Director or Consultant. Except as otherwise provided in a Participant's Option Agreement: (a) In Agreement, in the event of the death of a Participant while the Participant is an Employee, employee, director or Consultant consultant of the Company or of an Affiliate, such Option may be exercised by the Participant's Survivors: (i) a. To the extent that the Option has become exercisable but has not been exercised on the date of death; and (ii) b. In the event rights to exercise the Option accrue periodically, to the ext...ent of a pro rata portion through the date of death of any additional vesting rights that would have accrued on the next vesting date had the Participant not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Participant's date of death. (b) If the Participant's Survivors wish to exercise the Option, they must take all necessary steps to exercise the Option within one year after the date of death of such Participant, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if he or she had not died and had continued to be an Employee, employee, director or Consultant consultant or, if earlier, within the originally prescribed term of the Option. For Options granted to California Participants for so long as the Common Stock is not deemed a covered security pursuant to Section 18(b)(1) of the Securities Act, the Participant's Survivors must be allowed to take all necessary steps to exercise the Option for at least six (6) months from the date of death of such Participant. View More
Found in MATEON THERAPEUTICS INC contract
Effect on Options of Death While an Employee Director or Consultant. Except as otherwise provided in a Participant's Option Agreement: (a) In the event of the death of a Participant while the Participant is an Employee, director or Consultant of the Company or of an Affiliate, such Option may be exercised by the Participant's Survivors: (i) To the extent that the Option has shall become fully exercisable but has not been exercised on as of the date of death; and (ii) In the event rights to exercise the Option accrue periodically, to the extent of a pro rata porti...on through the date of death of any additional vesting rights that would have accrued on the next vesting date had the Participant not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Participant's date of death. (b) If the Participant's Survivors wish to exercise the Option, they must take all necessary steps to exercise the Option within one year after the date of death of such Participant, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if he or she had not died and had continued to be an Employee, director or Consultant or, if earlier, within the originally prescribed term of the Option. View More
Found in Myriad Genetics, Inc. contract
Effect on Options of Death While an Employee Director or Consultant. Except as otherwise provided in a Participant's Option Agreement: Agreement or in any other agreement between a Participant and the Company or an Affiliate: (a) In the event of the death of a Participant while the Participant is an Employee, director or Consultant of the Company or of an Affiliate, such Option may be exercised by the Participant's Survivors: (i) To the extent that the Option has become exercisable but has not been exercised on the date of death; and (ii) In the event rights to e...xercise the Option accrue periodically, to the extent of a pro rata portion through the date of death of any additional vesting rights that would have accrued on the next vesting date had the Participant not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Participant's date of death. (b) If the Participant's Survivors wish to exercise the Option, they must take all necessary steps to exercise the Option within one year after the date of death of such Participant, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if he or she had not died and had continued to be an Employee, director or 10 Consultant or, if earlier, within the originally prescribed term of the Option. For Options granted to California Participants for so long as the Common Stock is not deemed a covered security pursuant to Section 18(b)(1) of the Securities Act, the Participant's Survivors must be allowed to take all necessary steps to exercise the Option for at least six (6) months from the date of death of such Participant. View More
Found in MABVAX THERAPEUTICS HOLDINGS, INC. contract
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Effect on Options of Death While an Employee Director or Consultant. Except as otherwise provided in a Participant's Option Agreement: (a) In the event of the death of a Participant while the Participant is an Employee, director or Consultant of the Company or of an Affiliate, such Option may be exercised by the Participant's Survivors: (i) To the extent that the Option has become exercisable but has not been exercised on the date of death; and (ii) In the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the dat...e of death of any additional vesting rights that would have accrued on the next vesting date had the Participant not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Participant's date of death. (b) If the Participant's Survivors wish to exercise the Option, they must take all necessary steps to exercise the Option within one year after the date of death of such Participant, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if he or she had not died and had continued to be an Employee, director or Consultant or, if earlier, within the originally prescribed term of the Option. 13 17. EFFECT OF TERMINATION OF SERVICE ON STOCK GRANTS AND STOCK-BASED AWARDS. In the event of a termination of service (whether as an Employee, director or Consultant) with the Company or an Affiliate for any reason before the Participant has accepted a Stock Grant or a Stock-Based Award and paid the purchase price, if required, such grant shall terminate. For purposes of this Paragraph 17 and Paragraph 18 below, a Participant to whom a Stock Grant has been issued under the Plan who is absent from work with the Company or with an Affiliate because of temporary disability (any disability other than a Disability as defined in Paragraph 1 hereof), or who is on leave of absence for any purpose, shall not, during the period of any such absence, be deemed, by virtue of such absence alone, to have terminated such Participant's employment, director status or consultancy with the Company or with an Affiliate, except as the Administrator may otherwise expressly provide. In addition, for purposes of this Paragraph 17 and Paragraph 18 below, any change of employment or other service within or among the Company and any Affiliates shall not be treated as a termination of employment, director status or consultancy so long as the Participant continues to be an Employee, director or Consultant of the Company or any Affiliate. View More
Found in Sintx Technologies, Inc. contract
Effect on Options of Death While an Employee Director or Consultant. Except as otherwise provided in a Participant's the pertinent Option Agreement: (a) In Agreement, in the event of the death of a Participant while the Participant is an Employee, employee, director or Consultant consultant of the Company or of an Affiliate, such Option may be exercised by the Participant's Survivors: (i) a. To the extent that the Option has become exercisable but has not been exercised on the date of death; and (ii) b. In the event rights to exercise the Option accrue periodical...ly, to the extent of a pro rata portion through the date of death of any additional vesting rights that which would have accrued on the next vesting date had the Participant not died. died prior to the end of the accrual period which next ends following the date of death. The proration shall be based upon the number of days accrued in the current vesting of such accrual period prior to the Participant's date of death. (b) If the Participant's Survivors wish to exercise the Option, they must take all necessary steps to exercise the Option within one (1) year after the date of death of such Participant, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if he or she had not died and had continued to be an Employee, employee, director or Consultant consultant or, if earlier, within the originally prescribed term of the Option. 13 17. EFFECT OF TERMINATION OF SERVICE ON STOCK GRANTS AND STOCK-BASED AWARDS. 11 16. Effect of Termination of Service on Stock Grants. In the event of a termination of service (whether as an Employee, employee, director or Consultant) consultant) with the Company or an Affiliate for any reason before the Participant has accepted a Stock Grant or a Stock-Based Award and paid the purchase price, if required, Grant, such grant offer shall terminate. For purposes of this Paragraph 17 16 and Paragraph 18 17 below, a Participant to whom a Stock Grant has been issued offered under the Plan who is absent from work with the Company or with an Affiliate because of temporary disability (any disability other than a permanent and total Disability as defined in Paragraph 1 hereof), or who is on leave of absence for any purpose, shall not, during the period of any such absence, be deemed, by virtue of such absence alone, to have terminated such Participant's employment, director status or consultancy with the Company or with an Affiliate, except as the Administrator may otherwise expressly provide. In addition, for purposes of this Paragraph 17 16 and Paragraph 18 17 below, any change of employment or other service within or among the Company and any Affiliates shall not be treated as a termination of employment, director status or consultancy so long as the Participant continues to be an Employee, employee, director or Consultant consultant of the Company or any Affiliate. View More
Found in Adamas Pharmaceuticals Inc contract
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