Common use of Death of Optionholder Clause in Contracts

Death of Optionholder. 2.5.1. If the Optionholder dies at any time during the Optionholder’s Professional Relationship the Option shall be exercisable with respect to the Shares vested at the time of the Optionholder’s death by the Optionholder’s or her successors during the period of 12 months of the Optionholder’s death (such period being the “Exercise Period”). Upon the expiry of this Exercise Period, the Option, to the extent vested but not been exercised, shall terminate.

Death of Optionholder. 2.5.1. 2.5.1 If the Optionholder dies at any time during the Optionholder’s Professional Relationship the Option shall be exercisable with respect to the Shares vested at the time of the Optionholder’s death by the Optionholder’s or her successors during the period of 12 months of the Optionholder’s death (such period being the “Exercise Period”). Upon the expiry of this Exercise Period, the Option, to the extent vested but not been exercised, shall terminate.