Example ContractsClausesAfter Participant’s Death
After Participant’s Death
After Participant’s Death contract clause examples

After Participant’s Death. If a Participant dies and if the Participant’s stock option agreement provides that part or all of the Option may be exercised after the Participant’s death, then such portion may be exercised by the executor or administrator of the Participant’s estate during the time period specified in the stock option agreement, but not later than the expiration of the Option’s term.

After Participant’s Death. If a Participant dies and if the Participant’s Award Agreement provides that part or all of the Option may be exercised after the Participant’s death, then such portion may be exercised by the executor or administrator of the Participant’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 Participant’s death during the time period specified in the Award Agreement, but not later than the expiration of the Option’s term.

After Participant’s Death. If a Participant dies and if the Participant’s stock option agreement provides that part or all of the Option may be exercised after the Participant’s death, then such portion may be exercised by the executor or administrator of the Participant’s estate during the time period specified in the stock option agreement, but not later than the expiration of the Option’s term.

Payment After Participant’s Death. If a Participant dies after all conditions to receive benefits under [Sections 3.4 or 3.5]5] have been satisfied, any amount not yet paid to such Participant under the Plan (other than amounts which, by their terms, terminate upon the death of such Participant) shall be paid in accordance with the terms of the Plan to the executors, personal representatives, or administrators of such Participant’s estate.

Required Minimum Distributions After Participant’s Death. If the Participant dies on or after the date distributions begin and there is a designated beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiary, determined as follows:

After Participant’s Termination of Employment. The Committee shall set forth in the Participant’s stock option agreement when, and under what circumstances, an Option may be exercised after termination of the Participant’s employment or period of service; provided that no Incentive Stock Option may be exercised after the earlier of (a) (i) three months from the Participant’s termination of employment with the Company for reasons other than Disability or death, or # one year from the Participant’s termination of employment on account of Disability or death; or # the expiration of the Option’s term.

After Participant’s Termination of Employment. The Committee shall set forth in the Participant’s stock option agreement when, and under what circumstances, an Option may be exercised after termination of the Participant’s employment or period of service; provided that no Incentive Stock Option may be exercised after the earlier of (a) (i) three months from the Participant’s termination of employment with the Company for reasons other than Disability or death, or # one year from the Participant’s termination of employment on account of Disability or death; or # the expiration of the Option’s term.

Benefit Upon Participant’s Death On Or After Applicable Retirement Age. If a Participant’s employment with the Company and its Affiliates terminates due to the Participant’s death on or after his Applicable Retirement Age, the Participant’s Beneficiary, or, if no Beneficiary is on file, the Participant’s estate, shall be entitled to # for amounts deferred through December 31, 2015, a lump sum benefit equal to the greater of # the Present Value Benefit; or # the 2015 Termination Balance with deferrals projected from the date of death to the end of the Plan Year in which the death occurred, and # for amounts deferred on or after January 1, 2016, a lump sum benefit equal to the Termination Balance.

Death After Retirement from Service. If the Participant Retires after reaching the Retirement Age, the Participant will continue to be entitled to a benefit under his Plan. Upon the Participant’s death, the Participant’s Beneficiary will be entitled to the benefit described in the Beneficiaries section of the Participant’s Senior Executive Split Dollar Policy Endorsement and Beneficiary Designation Form.

Payment of Death Benefit. The Death Benefit shall be paid to the Participant’s Beneficiary(ies) no later than 60 days after the Participant’s Benefit Distribution Date.

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