Common use of Death of Optionee Clause in Contracts

Death of Optionee. If Optionee dies prior to the expiration or other termination of the Options, (i) the unvested Options shall terminate immediately upon Optionee’s death, and (ii) the vested Options shall remain exercisable during the one-year period following Optionee’s death, but in no event after the Expiration Date, by Optionee’s executor, personal representative, or the person(s) to whom the Options are transferred by will or the laws of descent and distribution. Unless sooner terminated, any unexercised vested Options shall terminate upon the expiration of such one-year period.

Death of Optionee. If the Optionee dies prior to the expiration Expiration Date or other termination of the OptionsOption, (i) the unvested Options this Option shall terminate immediately upon the Optionee’s deathdeath to the extent it is unvested, and (ii) the vested Options this Option shall remain be exercisable during a period of one year following the one-year period following date of death of the Optionee’s death, but in no event after the Expiration Date, by the Optionee’s executor, personal representative, or the person(s) to whom the Options are this Option is transferred by will or the laws of descent and distribution. Unless sooner terminated, any unexercised vested Options this Option shall terminate in its entirety upon the expiration of such one-one year period.