Common use of Death; Dissolution Clause in Contracts

Death; Dissolution. If the Optionee is a natural person who dies while involved in a Business Relationship with the Company, this Option may be exercised, to the extent of the number of shares with respect to which the Optionee could have exercised it on the date of his death, by his estate, personal representative or beneficiary to whom this Option has been assigned pursuant to Article 10, at any time within one hundred eighty (180) days after the date of death, but not later than the scheduled expiration date. If the Optionee is a corporation, partnership, trust or other entity that is dissolved, liquidated, becomes insolvent or enters into a merger or acquisition with respect to which such Optionee is not the surviving entity at the time when such entity is involved in a Business Relationship with the Company, this Option shall immediately terminate as of the date of such event, and the only rights hereunder shall be those as to which this Option was properly exercised before such dissolution or other event.