Common use of Death of Holder Clause in Contracts

Death of Holder. If a Holder dies while still acting as a Director, --------------- Officer, Employee or Consultant, the Option may be exercised within such period of time as is specified in the Option Agreement, by the Holder's estate or by a person who acquires the right to exercise the Option by bequest or inheritance, but only to the extent that the Option is vested on the date of death. In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for three (3) years following the Holder's death. If, at the time of death, the Holder is not vested as to his or her entire Option, the Class B Shares covered by the unvested portion of the Option shall immediately cease to be issuable under the Option and shall again become available for issuance under the Plan. The Option may be exercised by the executor or Board of the Holder's estate or, if none, by the person(s) entitled to exercise the Option under the Holder's will or the laws of descent or distribution. If the Option is not so exercised within the time specified herein, the Option shall terminate, and the Class B Shares covered by such Option shall again become available for issuance under the Plan.

Death of Holder. If a Holder dies while still acting as a Director, --------------- Officer, Employee or Consultant, the Option may be exercised within such period of time as is specified in the Option Agreement, by the Holder's estate or by a person who acquires the right to exercise the Option by bequest or inheritance, but only to the extent that the Option is vested on the date of death. In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for three (3) years following the Holder's death. If, at the time of death, the Holder is not vested as to his or her entire Option, the Class B Shares covered by the unvested portion of the Option shall immediately cease to be issuable under the Option and shall again become available for issuance under the Plan. The Option may be exercised by the executor or Board of the Holder's estate or, if none, by the person(s) entitled to exercise the Option under the Holder's will or the laws of descent or distribution. If the Option is not so exercised within the time specified herein, the Option shall terminate, and the Class B Shares covered by such Option shall again become available for issuance under the Plan.