Common use of Termination as a Result of Death Clause in Contracts

Termination as a Result of Death. If your employment or service terminates by reason of your death (at a time when you could not have been terminated for Cause), then your estate or your beneficiary, or such other person or persons as may acquire your rights under this Option by will or by the laws of descent and distribution, may exercise this Option until the first anniversary of such termination of employment or service (or until such longer or shorter period as the Administrator may in its sole discretion determine).

Appears in 2 contracts

Sources: Stock Option Agreement (Cummins Inc), Stock Option Agreement (Cummins Inc)

Termination as a Result of Death. If your employment or service terminates by reason of your death (at a time when you your employment could not otherwise have been terminated for CauseCause (defined below), then your estate or your beneficiary, or such other person or persons as may acquire your rights under this Option by will or by the laws of descent and distribution, may exercise the vested portion of this Option until the first anniversary of such termination of employment or service (or until such longer or shorter period as the Administrator may in its sole discretion determine)employment.

Appears in 2 contracts

Sources: Stock Option Award Agreement (Imperial Holdings, Inc.), Stock Option Award Agreement (Imperial Holdings, LLC)

Termination as a Result of Death. If your employment or service with the Company terminates by reason of your death (at a time when you your employment or service could not otherwise have been terminated for CauseCause (defined below), then your estate or your beneficiary, or such other person or persons as may acquire your rights under this Option by will or by the laws of descent and distribution, may exercise this Option until the first anniversary of such termination of employment or service earlier of: (or until such longer or shorter period as the Administrator may in its sole discretion determine).i) the

Appears in 1 contract

Sources: Share Option Award Agreement (OXBRIDGE RE HOLDINGS LTD)

Termination as a Result of Death. If your employment or service with the Company terminates by reason of your death (at a time when you your employment or service could not otherwise have been terminated for CauseCause (defined below), then your estate or your beneficiary, or such other person or persons as may acquire your rights under this Option by will or by the laws of descent and distribution, may exercise this Option until the first anniversary earlier of: (i) the Expiration Date, or (ii) the date that is twelve (12) months after the date of such termination of your employment or service (or until such longer or shorter period as the Administrator may in its sole discretion determine)by reason of your death.

Appears in 1 contract

Sources: Share Option Award Agreement (OXBRIDGE RE HOLDINGS LTD)