Common use of Family Transfers Clause in Contracts

Family Transfers. An Optionee may transfer all or part of the Option to (i) any Immediate Family Member, (ii) a trust or trusts for the exclusive benefit of any Immediate Family Member, or (iii) a partnership in which Immediate Family Members are the only partners, provided that (x) there may be no consideration for any such transfer, and (y) subsequent transfers of 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, 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 Section 7.2 hereof the term "Optionee" shall be deemed to refer to the transferee. The events of termination of the employment or other relationship of Section 6.1 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 and for the periods specified in Sections 6.1, 6.2, or 6.

Family Transfers. An Optionee may transfer all or part of the this Option to (i) any the spouse, children or grandchildren of the Optionee ("Immediate Family MemberMembers"), (ii) a trust or trusts for the exclusive benefit of any such Immediate Family MemberMembers, 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 the transferred 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, the 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 Section 7.2 hereof this Option the term "Optionee" shall be deemed to refer to the transferee. The events of termination of the employment or other relationship of set forth in Section 6.1 hereof 3 above 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 Sections 6.1, 6.2, or 6Section 3.

Family Transfers. An Optionee may transfer all or part of the Option to (i) any Immediate Family Member, (ii) a trust or trusts for the exclusive benefit of any Immediate Family Member, or (iii) a partnership in which Immediate Family Members are the only partners, provided that (x) there may be no consideration for any such transfer, and (y) subsequent transfers of 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, 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 Section 7.2 8.2 hereof the term "Optionee" shall be deemed to refer to the transferee. The events of termination of the employment or other relationship of Section 6.1 7.1 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 and for the periods specified in Sections 6.17.1, 6.2, 7.2 or 67.

Family Transfers. An Optionee may transfer all or part of the Option to (i) any Immediate Family Member, (ii) a trust or trusts for the exclusive benefit of any Immediate Family Member, or (iii) a partnership in which Immediate Family Members are the only partners, provided that (x) there may be no consideration for any such transfer, and (y) subsequent transfers of 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, 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 Section 7.2 8.2 hereof the term "Optionee" shall be deemed to refer to the transferee. The events of termination of the employment or other relationship of Optionee in Section 6.1 6.3 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 and for the periods specified in Sections 6.1, 6.2, or 6.Section Error! Reference source not found.. "

Family Transfers. An Optionee may transfer all or part of the Option to (i) any Immediate Family Member, (ii) a trust or trusts for the exclusive benefit of any Immediate Family Member, or (iii) a partnership in which Immediate Family Members are the only partners, provided that (x) there may be no consideration for any such transfer, and (y) subsequent transfers of 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, 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 Section 7.2 8.2 hereof the term "Optionee" shall be deemed to refer to the transferee. The events of termination of the employment or other relationship service of Section 6.1 7.1 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 and for the periods specified in Sections 6.17.1, 6.2, 7.2 or 67.

Family Transfers. An Optionee may transfer all or part of the Option to (i) any Immediate Family Member, (ii) a trust or trusts for the exclusive benefit of any Immediate Family Member, or (iii) a partnership in which Immediate Family Members are the only partners, provided that (x) there may be no consideration for any such transfer, and (y) subsequent transfers of 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, 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 Section 7.2 8.2 hereof the term "Optionee" shall be deemed to refer to the transferee. The events of termination of the employment or other relationship of Optionee in Section 6.1 6.3 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 and for the periods specified in Sections 6.17.1, 6.2, or 6.7.2 and 7.3 hereof. "

Family Transfers. An Optionee may transfer all or part of the Option to (i) any Immediate Family Member, (ii) a trust or trusts for the exclusive benefit of any Immediate Family Member, or (iii) a partnership in which Immediate Family Members are the only partners, provided that (x) there may be no consideration for any such transfer, and (y) subsequent transfers of 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, 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 Section 7.2 SECTION 8.2 hereof the term "Optionee" shall be deemed to refer to the transferee. The events of termination of the employment or other relationship of Section 6.1 SECTION 7.1 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 and for the periods specified in Sections 6.1SECTIONS 7.1, 6.2, 7.2 or 67.

Family Transfers. An Optionee may transfer all or part of the Option to (i) any Immediate Family Member, (ii) a trust or trusts for the exclusive benefit of any Immediate Family Member, or (iii) a partnership in which Immediate Family Members are the only partners, provided that (x) there may be no consideration for any such transfer, and (y) subsequent transfers of 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, 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 Section 7.2 SECTION 8.2 hereof the term "Optionee" shall be deemed to refer to the transferee. The events of termination of the employment or other relationship of Section 6.1 Optionee in SECTION 6.3 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 and for the periods specified in Sections 6.1, 6.2, or 6.SECTION Error! Reference source not found.. "