Common use of Effect of the Death of the Optionee Clause in Contracts

Effect of the Death of the Optionee. If the Optionee dies while an employee of the Company or any Subsidiary, this Option will terminate one year after the date of such death or, if sooner, upon the Expiration Date. In such event, this Option may be exercised only to the extent the Optionee was entitled to exercise this Option on the date of the Optionee's death and only by the person or persons to whom the Optionee's rights under this Option may pass by the Optionee's will or by the laws of descent and distribution of the state or country of the Optionee's domicile at the time of death.

Effect of the Death of the Optionee. If the Optionee dies while an employee of the Company or any Subsidiary, this Option will terminate one year after 12 months following the date of such the Optionee's death or, if sooner, upon the Expiration Date. In such event, this Option may be exercised only to the extent the Optionee was entitled to exercise this Option on the date of the Optionee's death and only by the person or persons to whom the Optionee's rights under this Option may pass by the Optionee's will or by the laws of descent and distribution of the state or country of the Optionee's domicile at the time of death.

Effect of the Death of the Optionee. If the Optionee dies while an employee of the Company or any Subsidiary, this the Option will terminate one year after the date of such death or, if sooner, upon the Expiration Date. In such event, this the Option may be exercised only to the extent the Optionee was entitled to exercise this the Option on the date of the Optionee's ’s death and only by a Permitted Transferee or the person or persons to whom the Optionee's ’s rights under this the Option may pass by the Optionee's ’s will or by the laws of descent and distribution of the state or country of the Optionee's ’s domicile at the time of death.