Common use of Transfer by Reason of Death or Divorce Clause in Contracts

Transfer by Reason of Death or Divorce. In the event of the death of a Stockholder, the Shares of the Stockholder may be Transferred by the executor or administrator of the estate to any heir or descendent of such deceased Stockholder upon such executor or administrator giving written notice to the Company of such event, provided that the transferee executes a joinder to this Agreement, in substantially the form of Exhibit A, agreeing to be bound as a Stockholder to the terms of this Agreement. In the event of the death of a Stockholder's spouse, or the division of community property of a Stockholder upon divorce and such Stockholder's spouse is awarded some or all of the Shares owned by such Stockholder, a Transfer of Shares to the Stockholder may be made by such Stockholder's spouse or by the executor or administrator of the Stockholder's spouse's estate upon written notice of such event given by such Stockholder to the Company, provided that the transferee executes a joinder to this Agreement, in substantially the form of Exhibit A, agreeing to be bound as a Stockholder to the terms of this Agreement.

Transfer by Reason of Death or Divorce. In the event of the death of a Stockholder, the Shares of the Stockholder may be Transferred by the executor or administrator of the estate to any heir or descendent of such deceased Stockholder upon such executor or administrator giving written notice to the Company of such event, provided that the transferee executes a joinder to this Agreement, in substantially the form of Exhibit A, agreeing to be bound as a Stockholder to the terms of this Agreement. In the event of the death of a Stockholder's spouse, or the division of community property of a Stockholder upon divorce and such Stockholder's spouse is awarded some or all of the Shares owned by such Stockholder, a Transfer of Shares to the Stockholder Stockholder's spouse may be made by such Stockholder's spouse or by the executor or administrator of the Stockholder's spouse's estate upon written notice of such event given by such Stockholder to the Company, provided that the transferee executes a joinder to this Agreement, in substantially the form of Exhibit A, agreeing to be bound as a Stockholder to the terms of this Agreement.