Termination for any Reason other than Cause. If the Grantee’s employment is terminated for any reason other than by the Company for Cause, the Grant shall continue to be exercisable in whole or in part (to the extent exercisable on the date of such termination of employment) for the duration of the Exercise Term. In the event of the Grantee’s death, the Grant shall be exercisable (to the extent exercisable on the date of such death), to the extent provided in the Plan and this Agreement, by the legatee or legatees under his or her will, or by his or her personal representatives or distributees and such person or persons shall be substituted for the Grantee each time the Grantee is referred to herein.
Appears in 2 contracts
Sources: Stock Appreciation Rights Agreement (Plains Exploration & Production Co), Stock Appreciation Rights Agreement (Plains Exploration & Production Co)
Termination for any Reason other than Cause. If the Grantee’s employment is terminated for any reason other than by the Company for Cause, the Grant shall continue to be exercisable in whole or in part (to the extent exercisable on the date of such termination of employment) for the duration of the Exercise Term. In the event of the Grantee’s death, the Grant shall be exercisable (to the extent exercisable on the date of such death)exercisable, to the extent provided in the Plan and this Agreement, by the legatee or legatees under his or her will, or by his or her personal representatives or distributees and such person or persons shall be substituted for the Grantee each time the Grantee is referred to herein.
Appears in 1 contract
Sources: Stock Appreciation Rights Agreement (Plains Exploration & Production Co)