Common use of Transfer of this Option Clause in Contracts

Transfer of this Option. During Employee's lifetime, this option shall be exercisable only by Employee. This option shall not be transferable by Employee other than by the laws of descent and distribution upon Employee's death. In the event of Employee's death during employment or during the applicable period after termination of employment specified in Paragraph 2 above, Employee's personal representatives may exercise any portion of this option that remains unexercised at the time of Employee's death, provided that any such exercise must be made, if at all, during the period within one year after Employee's death, and subject to the option termination date specified in Paragraph 7(c) below.

Transfer of this Option. During Employee's ’s lifetime, this option shall be exercisable only by Employee. This option shall not be transferable by Employee other than by the laws of descent and distribution upon Employee's ’s death. In the event of Employee's ’s death during employment or during the applicable period after termination of employment specified in Paragraph 2 above, Employee's ’s personal representatives may exercise any portion of this option that remains unexercised at the time of Employee's ’s death, provided that any such exercise must be made, if at all, during the period within one year after Employee's ’s death, and subject to the option termination date specified in Paragraph 7(c) below.