Effect on Options of Death While an Employee Director or Consultant Clause Example with 15 Variations from Business Contracts

This page contains Effect on Options of Death While an Employee Director or Consultant clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
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 th...e 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 Consultant or, if earlier, within the originally prescribed term of the Option. View More
Found in XpresSpa Group, Inc. contract

Variations of a "Effect on Options of Death While an Employee Director or Consultant" Clause from Business Contracts

Effect on Options of Death While an Employee Director or Consultant. Except as otherwise provided in a Participant’s Option Agreement: (a) (i) 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 Survivors 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 portio...n 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) death; and (iii) 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 Teligent, Inc. contract
Effect on Options of Death While an Employee Director or Consultant. Except as otherwise provided in a Participant’s Option Agreement: 12 (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 (i)To the extent that the Option has become exercisable but has not been exercised on the date of death; and (ii) In (ii)In the event rights to exercise 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 Consultant or, if earlier, within the originally prescribed term of the Option. For Options granted to California Participants, 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 Neuralstem, 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 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) (i) 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 Survivors 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 portio...n 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) death; and (iii) 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. 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: 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