Common use of Death of Optionee; No Assignment Clause in Contracts

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result of his or her death, and provided Optionee’s rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 32 contracts

Samples: Stock Option Agreement (RespireRx Pharmaceuticals Inc.), Stock Option Agreement (Biolife Solutions Inc), Stock Option Agreement (Tandem Diabetes Care Inc)

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Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s 's Continuous Service terminates as a result of his or her death, and provided Optionee’s 's rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s 's legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a "Successor") shall succeed to the Optionee’s 's rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 18 contracts

Samples: Employment Agreement (Voice Assist, Inc.), Employment Agreement (Voice Assist, Inc.), Employment Agreement (Voice Assist, Inc.)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous relationship as a Service Provider terminates as a result of his or her death, and provided Optionee’s rights hereunder shall have vested pursuant to Section 2 hereofabove, Optionee’s legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 7 contracts

Samples: Stock Option Agreement (NuZee, Inc.), Stock Option Agreement (NuZee, Inc.), Stock Option Agreement (NuZee, Inc.)

Death of Optionee; No Assignment. The rights of the Optionee under this Option Agreement may not be assigned or transferred except by will or by will, the laws of descent and distributiondistribution or pursuant to a domestic relations order, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Option Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result of his or her death, and provided Optionee’s rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Option Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 6 contracts

Samples: Stock Option Agreement (Priveterra Acquisition Corp.), Stock Option Agreement (AEON Biopharma, Inc.), Stock Option Agreement (AEON Biopharma, Inc.)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous relationship as a Service Provider terminates as a result of his or her death, death and provided Optionee’s rights hereunder shall have vested pursuant to Section 2 hereofabove, Optionee’s legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 4 contracts

Samples: Stock Option Agreement (NuZee, Inc.), Stock Option Agreement (NuZee, Inc.), Stock Option Agreement (NuZee, Inc.)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result of his or her death, and provided Optionee’s rights hereunder shall have vested pursuant to Section 2 hereofabove, Optionee’s legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 4 contracts

Samples: Stock Option Agreement (NuZee, Inc.), Stock Option Agreement (NuZee, Inc.), Stock Option Agreement (Tandem Diabetes Care Inc)

Death of Optionee; No Assignment. The rights of the Optionee under -------------------------------- this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s 's Continuous Service terminates as a result of his or her death, and provided Optionee’s 's rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s 's legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a "Successor") shall succeed to the Optionee’s 's rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 4 contracts

Samples: Stock Option Plan Option Agreement (Powerwave Technologies Inc), Stock Option Agreement (Pacific Mercantile Bancorp), Stock Option Agreement (Interplay Entertainment Corp)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s 's Continuous Service terminates as a result of his or her Optionee's death, and provided Optionee’s 's rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s 's legal representative, his or her Optionee's legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a "Successor") shall succeed to the Optionee’s 's rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 4 contracts

Samples: Stock Option Agreement (Powerwave Technologies Inc), Nonqualified Stock Option Agreement (Vysis Inc), Incentive Stock Option Agreement (Vision Solutions Inc)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result of his or her death, death and provided Optionee’s rights hereunder shall have right to exercise this Option has vested pursuant to Section 2 hereofor Section 8 hereof prior to his or her death, Optionee’s legal representative, his or her legatee, or the person who acquired the right to exercise the vested portion of this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this OptionOption and, then, only as to the portion thereof that vested prior to the death of the Optionee.

Appears in 3 contracts

Samples: Stock Option Agreement (Coast Distribution System Inc), Stock Option Agreement (Collectors Universe Inc), Form of Stock Option Agreement (Pacific Mercantile Bancorp)

Death of Optionee; No Assignment. The rights of the Optionee under -------------------------------- this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s 's Continuous Service terminates as a result of his or her death, and provided Optionee’s 's rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s 's legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a "Successor") shall succeed to the Optionee’s 's rights and --------- obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Keith Companies Inc), Incentive Stock Option Agreement (Keith Companies Inc)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result Optionee should die prior to the termination of his or her deaththis Option, and provided Optionee’s 's rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s 's legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a "Successor") shall succeed to the Optionee’s 's rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (Techniclone International Corp), Nonqualified Stock Option Agreement (Techniclone Corp/De/)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result of his or her Optionee’s death, and provided Optionee’s rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s legal representative, his or her Optionee’s legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (TherOx, Inc.), Incentive Stock Option Agreement (TherOx, Inc.)

Death of Optionee; No Assignment. The rights of the Optionee under this -------------------------------- Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s 's Continuous Service terminates as a result of his or her death, and provided Optionee’s 's rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s 's legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a "Successor") shall succeed to the Optionee’s 's rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 2 contracts

Samples: Stock Option Agreement (STM Wireless Inc), Nonqualified Stock Option Agreement (Gish Biomedical Inc)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s 's Continuous Service terminates as a result of his or her Optionee's death, and provided Optionee’s 's rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s 's legal representative, his or her Optionee's legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a "Successor") shall succeed to the Optionee’s 's rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Printrak International Inc), Nonqualified Stock Option Agreement (Printrak International Inc)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result of his or her death, and provided Optionee’s rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 2 contracts

Samples: Non Qualified Stock Option Agreement (Cortex Pharmaceuticals Inc/De/), Non Qualified Stock Option Agreement (Cortex Pharmaceuticals Inc/De/)

Death of Optionee; No Assignment. The Unless otherwise authorized by the Administrator in its sole discretion pursuant to Section 5.7 of the Plan, the rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result of his or her death, and provided Optionee’s rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Newport Corp), Incentive Stock Option Agreement (Newport Corp)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result Optionee should die prior to the termination of his or her deaththis Option, and provided Optionee’s 's rights hereunder shall have vested pursuant to Section 2 hereofhereof as of the date of death, Optionee’s 's legal representative, his or her legateelegates, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a "Successor") shall succeed to the Optionee’s 's rights and obligations under this Agreement. After Abet the death of the Optionee, only a Successor may exercise this Option.

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (PCC Group Inc), Incentive Stock Option Agreement (PCC Group Inc)

Death of Optionee; No Assignment. The rights of the Optionee under this --------------------------------- Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s 's Continuous Service terminates as a result of his or her death, and provided Optionee’s 's rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s 's legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a "Successor") shall succeed to the Optionee’s 's rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Gish Biomedical Inc)

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Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result of his or her death, and provided Optionee’s rights hereunder shall have vested pursuant to Section 2 hereof, automatically accelerate immediately and Optionee’s legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option. 6.

Appears in 1 contract

Samples: Equity Incentive Plan Stock Option Agreement (Pacific Mercantile Bancorp)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s 's Continuous Service terminates as a result of his or her Optionee's death, and provided Optionee’s 's rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s 's legal representative, his or her Optionee's legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.to

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Vision Solutions Inc)

Death of Optionee; No Assignment. The rights of the Optionee under this Option Agreement may not be assigned or transferred except by will or by will, the laws of descent and distributiondistribution or pursuant to a domestic relations order, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Option Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result of his or her death, and provided Optionee’s rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Option Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 1 contract

Samples: Stock Option Agreement (Qualigen Therapeutics, Inc.)

Death of Optionee; No Assignment. The rights of the Optionee under this Option Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, distribution and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Option Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result of his or her death, and provided Optionee’s rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Option Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 1 contract

Samples: Stock Option Agreement (Crinetics Pharmaceuticals, Inc.)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distributiondistribution or pursuant to a Domestic Relations Order entered by a court of competent jurisdiction, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result of his or her death, and provided Optionee’s rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 1 contract

Samples: Stock Option Agreement (Ista Pharmaceuticals Inc)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result Optionee should die prior to the termination of his or her deaththis Option, and provided Optionee’s 's rights hereunder shall have vested pursuant to Section 2 hereofhereof as of the date of death, Optionee’s 's legal representative, his or her legateelegates, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a "Successor") shall succeed to the Optionee’s 's rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (PCC Group Inc)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such the Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s 's Continuous Service terminates as a result of his or her death, and provided Optionee’s 's rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s 's legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a "Successor") shall succeed to the Optionee’s 's rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 1 contract

Samples: Stock Option Agreement (Endologix Inc /De/)

Death of Optionee; No Assignment. The rights of the Optionee under this Option Agreement may not be assigned or transferred except by will or by will, the laws of descent and distributiondistribution or pursuant to a domestic relations order, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Option Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result of his or her death, and provided Optionee’s rights hereunder shall have vested pursuant to Section 2 3 hereof, Optionee’s legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Option Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 1 contract

Samples: Stock Option Agreement (Endologix Inc /De/)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee Optionee, may be exercised only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If Optionee should die during the Optionee’s Continuous Service terminates term of the Option, but before having exercised this Option in full as a result of his or her death, and provided Optionee’s 's rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s 's legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a "Successor") shall succeed to the Optionee’s 's rights and obligations under this Agreementagreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Tangible Asset Galleries Inc)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such the Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result of his or her death, and provided Optionee’s rights hereunder shall have vested pursuant to Section 2 hereof, Optionee’s legal representative, his or her legatee, or the person who acquired the right to exercise this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.

Appears in 1 contract

Samples: Non Plan Stock Option Agreement (Endologix Inc /De/)

Death of Optionee; No Assignment. The rights of the Optionee under this Agreement may not be assigned or transferred except by will or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Any attempt to sell, pledge, assign, hypothecate, transfer or dispose of this Option in contravention of this Agreement or the Plan shall be void and shall have no effect. If the Optionee’s Continuous Service terminates as a result of his or her death, death and provided Optionee’s rights hereunder shall have right to exercise this Option has vested pursuant to Section 2 hereofor Section 8 hereof prior to his or her death, Optionee’s legal representative, his or her legatee, or the person who acquired the right to exercise the vested portion of this Option by reason of the death of the Optionee (individually, a “Successor”) shall succeed to the Optionee’s rights and obligations under this Agreement. After the death of the Optionee, only a Successor may exercise this Option.the

Appears in 1 contract

Samples: Stock Option Agreement (Collectors Universe Inc)

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