Assignability of the Option. Except as specifically provided herein, the Optionee may not give, grant, sell, exchange, transfer legal title, pledge, assign or otherwise encumber or dispose of the Option herein granted or any interest therein (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process, otherwise than by will or the laws of descent and distribution, and the Option herein granted shall be exercisable in whole or in part during the Optionee’s lifetime only by the Optionee or his guardian or legal representative. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of this Option or any right or privilege conferred by this Option contrary to the provisions of this Option or the Plan, or upon the levy of any attachment or similar process on the rights and privileges conferred by this Option shall be null and void and this Option and the rights and privileges conferred by this Option shall immediately terminate and become null and void.
Assignability of the Option. Except as specifically provided herein, the Optionee may not give, grant, sell, exchange, transfer legal title, pledge, assign or otherwise encumber or dispose of the Option herein granted or any interest therein, otherwise than by will or the laws of descent and distribution, and the Option herein granted shall be exercisable in whole or in part during the Optionee’s lifetime only by the Optionee or his guardian or legal representative. Any attempt to transfer, assign, pledge or otherwise dispose of, or to subject to execution, attachment or similar process, any Option contrary to the provisions hereof shall be void and ineffective and shall give no right to the purported transferee.
Assignability of the Option. The OPTION shall not be ---------------------------- assignable or transferable except, in the event of the death of the OPTIONEE, by the will of the OPTIONEE, or by the laws of descent and distribution. The OPTION shall be exercisable, during the OPTIONEE's lifetime, only by the OPTIONEE.
Assignability of the Option. This Option is assignable by Optionee to an Affiliate or a successor in interest in accordance with a tax deferred exchange under Section 1031 of the Internal Revenue Code, 1986, as amended, provided the assignee assumes all obligations under this Option. "Affiliate" shall mean any individual, corporation, limited liability company, association, partnership, trust or other legal entity that, directly or indirectly, controls or is controlled by or is under common control with Optionee.
Assignability of the Option. With the permission of the Board, the Optionee may transfer the Option to a revocable inter vivos trust as to which Optionee is the settlor or may transfer such Option to a Permissible Transferee. Any such transferee shall remain subject to all of the terms and conditions applicable to such Optionee and subject to all rules and regulations prescribed by the Board. The Option may not further be transferred by a Permissible Transferee except by will or the laws of descent and distribution and then only to another Permissible Transferee. Other than as described above, the Option may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered otherwise than by will or the laws of descent and distribution, or pursuant to a qualified domestic relations order, and during the lifetime of the Optionee, the Option may be exercised only by the Optionee by the Optionee’s guardian or legal representative. A “Permissible Transferee” is any member of the immediate family of the Optionee, any trust, whether revocable or irrevocable, solely for the benefit of members of the Optionee’s immediate family, or any partnership or limited liability company whose only partners or members are members of the Optionee’s immediate family.
Assignability of the Option. The Option may not be assigned, transferred, pledged, hypothecated, sold or otherwise disposed of, in whole or in part, either voluntarily or involuntarily, except with the prior written consent of the Company, and the Option may be exercised, during the lifetime of Christoffel, only by him. Any attempted assignment, transfer, pledge, hypothecation, sale or other disposition of the Option contrary to the provisions hereof, and the levy of any execution, attachment or similar process upon the Option, shall be null and void and without effect. Notwithstanding the foregoing, upon the death of Christoffel, the Option may be exercised by the estate and/or beneficiary of Christoffel.
Assignability of the Option. The Option may not be assigned, transferred, pledged, hypothecated, sold or otherwise disposed of, in whole or in part, either voluntarily or involuntarily, except with the prior written consent of the Company, and the Option may be exercised, during the lifetime of Crane, only by him. Any attempted assignment, transfer, pledge, hypothecation, sale or other disposition of the Option contrary to the provisions hereof, and the levy of any execution, attachment or similar process upon the Option, shall be null and void and without effect. Notwithstanding the foregoing, upon the death of Crane, the Option may be exercised by the estate and/or beneficiary of Crane.
