Common use of Family Transfers Clause in Contracts

Family Transfers. Optionee may transfer this Option to (i) the spouse, children or grandchildren of the Optionee ("Immediate Family Members"), (ii) a trust or trusts for the exclusive benefit of such Immediate Family Members, or (iii) a partnership in which such Immediate Family Members are the only partners, provided that (x) there may be no consideration for any such transfer and (y) subsequent transfers of this Option are prohibited except those in accordance with this Section 7.2 or by will or the laws of descent and distribution. Following transfer, this Option shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for purposes of this Option the term "Optionee" shall be deemed to refer the transferee. The events of termination of employment set forth in Section 3 above shall continue to be applied with respect to the original Optionee, following which the Option shall be exercisable by the transferee only to the extent, and for the periods specified in Section 3.

Family Transfers. An Optionee may transfer this all or part of the Option to (i) the spouse, children or grandchildren of the Optionee ("any Immediate Family Members")Member, (ii) a trust or trusts for the exclusive benefit of such any Immediate Family MembersMember, or (iii) a partnership in which such Immediate Family Members are the only partners, provided that (x) there may be no consideration for any such transfer transfer, and (y) subsequent transfers of this the transferred Option are prohibited except those in accordance with this Section 7.2 or by will or the laws of descent and distribution. Following transfer, this the Option shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for purposes of this Option Section 7.2 hereof the term "Optionee" shall be deemed to refer to the transferee. The events of termination of the employment set forth in or other relationship of Section 3 above 6.1 hereof shall continue to be applied with respect to the original Original Optionee, following which the Option shall be exercisable by the transferee only to the extent, extent and for the periods specified in Section 3Sections 6.1, 6.2, or 6.

Family Transfers. An Optionee may transfer this all or part of the Option to (i) the spouse, children or grandchildren of the Optionee ("any Immediate Family Members")Member, (ii) a trust or trusts for the exclusive benefit of such any Immediate Family MembersMember, or (iii) a partnership in which such Immediate Family Members are the only partners, provided that (x) there may be no consideration for any such transfer transfer, and (y) subsequent transfers of this the transferred Option are prohibited except those in accordance with this Section 7.2 8.2 or by will or the laws of descent and distribution. Following transfer, this the Option shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for purposes of this Option Section 8.2 hereof the term "Optionee" shall be deemed to refer to the transferee. The events of termination of the employment set forth in or other relationship of Section 3 above 7.1 hereof shall continue to be applied with respect to the original Optionee, following which the Option shall be exercisable by the transferee only to the extent, extent and for the periods specified in Section 3Sections 7.1, 7.2 or 7.

Family Transfers. An Optionee may transfer this all or part of the Option to (i) the spouse, children or grandchildren of the Optionee ("any Immediate Family Members")Member, (ii) a trust or trusts for the exclusive benefit of such any Immediate Family MembersMember, or (iii) a partnership in which such Immediate Family Members are the only partners, provided that (x) there may be no consideration for any such transfer transfer, and (y) subsequent transfers of this the transferred Option are prohibited except those in accordance with this Section 7.2 SECTION 8.2 or by will or the laws of descent and distribution. Following transfer, this the Option shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for purposes of this Option SECTION 8.2 hereof the term "Optionee" shall be deemed to refer to the transferee. The events of termination of employment set forth the Optionee in Section 3 above SECTION 6.3 hereof shall continue to be applied with respect to the original Optionee, following which the Option shall be exercisable by the transferee only to the extent, extent and for the periods specified in Section 3.SECTION Error! Reference source not found.. "

Family Transfers. An Optionee may transfer this all or part of the Option to (i) the spouse, children or grandchildren of the Optionee ("any Immediate Family Members")Member, (ii) a trust or trusts for the exclusive benefit of such any Immediate Family MembersMember, or (iii) a partnership in which such Immediate Family Members are the only partners, provided that (x) there may be no consideration for any such transfer transfer, and (y) subsequent transfers of this the transferred Option are prohibited except those in accordance with this Section 7.2 8.2 or by will or the laws of descent and distribution. Following transfer, this the Option shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for purposes of this Option Section 8.2 hereof the term "Optionee" shall be deemed to refer to the transferee. The events of termination of employment set forth in the service of Section 3 above 7.1 hereof shall continue to be applied with respect to the original Optionee, following which the Option shall be exercisable by the transferee only to the extent, extent and for the periods specified in Section 3Sections 7.1, 7.2 or 7.

Family Transfers. An Optionee may transfer this all or part of the Option to (i) the spouse, children or grandchildren of the Optionee ("any Immediate Family Members")Member, (ii) a trust or trusts for the exclusive benefit of such any Immediate Family MembersMember, or (iii) a partnership in which such Immediate Family Members are the only partners, provided that (x) there may be no consideration for any such transfer transfer, and (y) subsequent transfers of this the transferred Option are prohibited except those in accordance with this Section 7.2 8.2 or by will or the laws of descent and distribution. Following transfer, this the Option shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for purposes of this Option Section 8.2 hereof the term "Optionee" shall be deemed to refer to the transferee. The events of termination of employment set forth the Optionee in Section 3 above 6.3 hereof shall continue to be applied with respect to the original Optionee, following which the Option shall be exercisable by the transferee only to the extent, extent and for the periods specified in Section 3.Sections 7.1, 7.2 and 7.3 hereof. "

Family Transfers. An Optionee may transfer this all or part of the Option to (i) the spouse, children or grandchildren of the Optionee ("any Immediate Family Members")Member, (ii) a trust or trusts for the exclusive benefit of such any Immediate Family MembersMember, or (iii) a partnership in which such Immediate Family Members are the only partners, provided that (x) there may be no consideration for any such transfer transfer, and (y) subsequent transfers of this the transferred Option are prohibited except those in accordance with this Section 7.2 SECTION 8.2 or by will or the laws of descent and distribution. Following transfer, this the Option shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for purposes of this Option SECTION 8.2 hereof the term "Optionee" shall be deemed to refer to the transferee. The events of termination of the employment set forth in Section 3 above or other relationship of SECTION 7.1 hereof shall continue to be applied with respect to the original Optionee, following which the Option shall be exercisable by the transferee only to the extent, extent and for the periods specified in Section 3SECTIONS 7.1, 7.2 or 7.