Common use of Death Following Termination Clause in Contracts

Death Following Termination. If the Optionee dies following a termination of employment described in Section 2.2(b) or (e), and during the period for exercise of the Option set forth in such sections, the Option shall be exercisable only to the extent it is exercisable on the date of the Optionee’s death and may thereafter be exercised by the Optionee’s Legal Representative or Permitted Transferee, as the case may be, until and including the earlier to occur of (i) the date which is 6 months after the last day of the period for exercise of the Option set forth in Section 2.2(b) or (e), as applicable and (ii) the Expiration Date.

Appears in 1 contract

Sources: Non Qualified Stock Option Agreement (Tactical Solution Partners, Inc.)

Death Following Termination. If the Optionee dies following a termination of employment described in Section Sections 2.2(b), (d), (f) or and (eg), and during the period for exercise of the Option set forth in such sections, the Option shall be exercisable only to the extent it is exercisable on the date of the Optionee’s 's death and may thereafter be exercised by the Optionee’s 's Legal Representative or Permitted Transferee, as the case may be, until and including the earlier to occur of (i) the date which is 6 months after the last day of the period for exercise of the Option set forth in Section 2.2(b), (d), (f) or (eg), as applicable and (ii) the Expiration Date.

Appears in 1 contract

Sources: Stock Option Agreement (Linting Richard L)