Common use of Termination as a Result of Death Clause in Contracts

Termination as a Result of Death. If the Optionee's employment with the Company terminates as a result of the Optionee's death, the Option shall thereafter be exercisable by the Optionee's Designated Beneficiary (as defined in the Plan) or personal representatives, heirs or legatees (as provided in the Plan), but only to the extent of the purchase rights, if any, which shall have accrued pursuant to paragraph (a) of this Section 3 as of the date of such termination, and the Option and such accrued rights to purchase shall in any event terminate upon, and the Optionee shall have no further right to exercise the Option after, the earlier of (i) the expiration of the Option Term and (ii) one (1) year after the date of death. Notwithstanding anything contained in the Plan to the contrary, the Option shall continue to be treated as an "incentive stock option" within the meaning of Section 422 of the Code even if it is not exercised until after the third month following the date of the Optionee's death.