Common use of Death or Disability of Optionee Clause in Contracts

Death or Disability of Optionee. In the event of the death or disability of the Optionee while the Optionee is an Eligible Participant (or the death of the Optionee within three months after the date on which the Optionee ceases to be an Eligible Participant), any unexercised portion (whether then vested or unvested) of the Option shall be exercisable for a period of one year after the Optionee's death or disability or upon the expiration of the Option Period, whichever shall occur first, and, in the event of the death of the Optionee, shall be exercisable only by the Optionee's personal representative or such person or persons to whom the Optionee's rights pass under the Optionee's will or by the laws of descent and distribution.

Death or Disability of Optionee. In the event of the death or disability of the Optionee while the Optionee is an Eligible Participant (or the death of the Optionee within three months after the date on which the Optionee ceases to be an Eligible Participant), any unexercised portion (whether then vested or unvested) of the Option shall be exercisable (to the extent that the Option was exercisable at the time of the Optionee's death or disability) for a period of one year after the Optionee's death or disability or upon the expiration of the Option Period, whichever shall occur first, and, in the event of the death of the Optionee, shall be exercisable only by the Optionee's personal representative or such person or persons to whom the Optionee's rights pass under the Optionee's will or by the laws of descent and distribution.

Death or Disability of Optionee. In the event of the death or disability of the Optionee while the Optionee is an Eligible Participant (or the death of the Optionee within three months ninety (90) days after the date on which the Optionee ceases to be an Eligible Participant), any unexercised portion (whether then vested or unvested) of the Option shall be exercisable for a period of one year after the Optionee's death or disability or upon the expiration of the Option Period, whichever shall occur first, and, in the event of the death of the Optionee, shall be exercisable only by the Optionee's personal representative or such person or persons to whom the Optionee's rights pass under the Optionee's will or by the laws Laws of descent and distribution.

Death or Disability of Optionee. In the event of the death or disability of the Optionee while the Optionee is an Eligible Participant (or the death of the Optionee within three months two years after the date on which the Optionee ceases to be an Eligible Participant), any unexercised portion (whether then vested or unvested) of the Option shall be exercisable for a period of one year after the Optionee's death or disability or upon the expiration of the Option Period, whichever shall occur first, and, in the event of the death of the Optionee, shall be exercisable exerciseable only by the Optionee's personal representative or such person or persons to whom the Optionee's rights pass under the Optionee's will or by the laws Laws of descent and distribution.