Common use of Termination of Participant’s Service as a Director By Reason of Participant’s Death Clause in Contracts

Termination of Participant’s Service as a Director By Reason of Participant’s Death. In the event Participant’s service as a Director is terminated by reason of Participant’s death, unless the Options have earlier terminated, any unvested portion of the Options shall become immediately and fully vested as of the date of termination. Vested Options may be exercised at any time within twelve (12) months following the date of termination (but in no event later than the Option Expiration Date) by Participant’s executor or personal representative or the person to whom the Options shall have been transferred by will or the laws of descent and distribution, but only to the extent Participant could exercise the Options at the date of termination.

Termination of Participant’s Service as a Director By Reason of Participant’s Death. In the event Participant’s service as a Director is terminated by reason of Participant’s death, unless the Options have earlier terminatedOptions, any unvested portion of to the Options shall become immediately and fully extent vested as of the date of termination. Vested Options , may be exercised at any time within twelve (12) months following the date of termination (but in no event later than the Option Expiration Date) by Participant’s executor or personal representative or the person to whom the Options shall have been transferred by will or the laws of descent and distribution, but only to the extent Participant could exercise the Options at the date of termination.

Termination of Participant’s Service as a Director By Reason of Participant’s Death. In the event Participant’s service as a Director is terminated by reason of Participant’s death, unless the Options have earlier terminatedOption, any unvested portion of to the Options shall become immediately and fully extent vested as of the date of termination. Vested Options , may be exercised at any time within twelve (12) months following the date of termination (but in no event later than the Option Expiration Date) by the Participant’s executor or personal representative or the person to whom the Options Option shall have been transferred by will or the laws of descent and distribution, but only to the extent the Participant could exercise the Options Option at the date of termination.