Common use of Death of an Optionee Clause in Contracts

Death of an Optionee. In the event of the death of the Optionee, the Option shall, to the extent then exercisable as provided in subsection (c) shall be exercisable only by the executor or administrator of the Optionee's estate or by the person or persons to whom the Optionee's rights under the Option shall pass by the Optionee's will or the laws of descent and distribution.

Death of an Optionee. In the event of the death of the Optionee, the -------------------- Option shall, to the extent then exercisable as provided in subsection (c) shall be exercisable only by the executor or administrator of the Optionee's estate or by the person or persons to whom the Optionee's rights under the Option shall pass by the Optionee's will or the laws of descent and distribution.

Death of an Optionee. In the event of the death of the Optionee, the --------------------- Option shall, to the extent then exercisable as provided in subsection (c) shall be exercisable only by the executor or administrator of the Optionee's estate or by the person or persons to whom the Optionee's rights under the Option shall pass by the Optionee's will or the laws of descent and distributionsuccession.