Death of Optionholder Sample Clauses
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Death of Optionholder. Unless otherwise provided in an Award Agreement, in the event an Optionholder’s Continuous Service terminates as a result of the Optionholder’s death, then the Option may be exercised (to the extent the Optionholder was entitled to exercise such Option as of the date of death) by the Optionholder’s estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a person designated to exercise the Option upon the Optionholder’s death, but only within the period ending on the earlier of (a) the date 12 months following the date of death or (b) the expiration of the term of such Option as set forth in the Award Agreement. If, after the Optionholder’s death, the Option is not exercised within the time specified herein or in the Award Agreement, the Option shall terminate.
Death of Optionholder. For any Option granted on or after the effective date of the Plan, in the event (i) an Optionholder's Continuous Service terminates as a result of the Optionholder's death or (ii) the Optionholder dies within the period (if any) specified in the Option Agreement after the termination of the Optionholder's Continuous Service for a reason other than death, then the Option may be exercised (to the extent the Optionholder was entitled to exercise such Option as of the date of death) by the Optionholder's estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a person designated to exercise the option upon the Optionholder's death pursuant to subsection 6(e) or 6(f), but only within the period ending on the earlier of (1) the date eighteen (18) months following the date of death (or such longer or shorter period specified in the Option Agreement) or (2) the expiration of the term of such Option as set forth in the Option Agreement. If, after death, the Option is not exercised within the time specified herein, the Option shall terminate.
Death of Optionholder. Subject to Section 9 hereof, in the event of your death during the term of your Option and while an Employee or Consultant and having been in Continuous Service since the Date of Grant, your Option may be exercised, at any time within twelve (12) months following the date of death, by your estate or by a person who acquired the right to exercise your Option by bequest or inheritance. To the extent that you were not entitled to exercise your Option on such date, or if your Option is not exercised within the time specified herein, your Option shall terminate.
Death of Optionholder. In the event such Optionholder’s Continuous Service terminates as a result of the Optionholder’s death, provided that no circumstance under Section 3.2 or Detrimental Activity occurred on the part of such Participant:
(a) all unvested Options shall immediately terminate and cease to be exercisable;
(b) the Option may be exercised (to the extent the Optionholder was entitled to exercise such Option as of the date of death) by the Optionholder’s estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a person designated to exercise the Option upon the Optionholder’s death (“Successor”), but only within the period ending on the earlier of (a) the date three months following the date of death or (b)the Expiration Date. If, after the Optionholder’s death, the Option is not exercised within the time specified herein, the Option shall terminate. If the Successor applies to exercise his or her Option (to the extent the Optionholder was entitled to exercise such Option as of the date of death), the Board has the right (but not obligation) to send the notice to the Successor to pay in cash as an alternative at a price equal to 50% of the Fair Market Value on the date when the Board send the notice minus the Option Exercise Price; For the part of the Option that the Board has determined to pay in cash as an alternative, such Option shall be deemed as not exercised and immediately terminate.
(c) Option Shares acquired by the Optionholder by exercise of the Option are subject to repurchase as determined by the Board at a price equal to the higher of (i) 50% of the Fair Market Value on the date when the Board sends the repurchase notice to the Optionholder; or (ii) the Option Exercise Price.
Death of Optionholder. 2.5.1. If the Optionholder dies at any time during the Optionholder’s Professional Relationship the Option shall be exercisable with respect to the Shares vested at the time of the Optionholder’s death by the Optionholder’s or her successors during the period of 12 months of the Optionholder’s death (such period being the “Exercise Period”). Upon the expiry of this Exercise Period, the Option, to the extent vested but not been exercised, shall terminate.
Death of Optionholder. If the Optionholder shall die before the term of this Option has expired, the Option may be exercised (to the extent that the Optionholder shall have been entitled to do so at the date of his death) by a legatee or legatees of the Optionholder under his last will, or by his personal representatives or distributes, at any time within the earlier of six months after his death or the expiration date of this Option.
Death of Optionholder. 6.1 If the Optionholder dies in service this Option may be exercised by his or her personal representatives within the period of one year beginning with the date of death in respect of the Option Shares which shall have Vested prior to the date of death and remain unexercised and shall cease to be exercisable and lapse at the end of that period.
6.2 If the Optionholder dies after having ceased to hold employment within the Group but before the Option has lapsed, this Option may be exercised by his personal representatives within the period of one year beginning with the date of death in respect of the Option Shares which shall have Vested prior to the date of death and remain unexercised. After the one year period has ended the Option shall lapse.