Common use of Termination of Service by Death Clause in Contracts

Termination of Service by Death. If the Grantee ceases to be a member of the Board by reason of death, any unvested portion of the Option shall vest upon and become exercisable in full from and after such death. The Option may thereafter be exercised by any transferee of Grantee, if applicable, or by the legal representative of the estate or by the legatee of Grantee under the will of Grantee until expiration of the original term of the Option.