Common use of Limitations on Transfer of The Shares Clause in Contracts

Limitations on Transfer of The Shares. The Employee shall not sell, assign, transfer, pledge, hypothecate, mortgage, encumber or otherwise dispose of all or any of the Shares except as expressly provided in this Agreement. Notwithstanding, the Employee may transfer all or any of his Shares: (a) by way of gift to any member of his family or to any trust for the benefit of any such family member or the Employee; provided, however that any such transferee shall agree in writing with the Company, as a condition to such transfer, to be bound by all of the provisions of this Agreement to the same extent as if such transferee were the Employee, or by will or the laws of descent and distribution, in which event each transferee shall be bound by all of the provisions of this Agreement to the same extent as if such transferee were the Employee. As used herein, the word "family" shall include any spouse, lineal ancestor or descendant, brother or sister.

Limitations on Transfer of The Shares. The Employee shall not sell, assign, transfer, pledge, hypothecate, mortgage, encumber or otherwise dispose of all or any of the Shares except as expressly provided in this Agreement. Notwithstanding, the Employee may transfer all or any of his Shares: (a) by way of gift to any member of his family or to any trust for the benefit of any such family member or the Employee; provided, however that any such transferee shall agree in writing with the Company, as a condition to such transfer, to be bound by all of the provisions of this Agreement to the same extent as if such transferee were the Employee, or by will or the laws of descent and distribution, in which event each transferee shall be bound by all of the provisions of this Agreement to the same extent as if such transferee were the Employee. As used herein, the word "“family" ” shall include any spouse, lineal ancestor or descendant, brother or sister.

Limitations on Transfer of The Shares. The Employee shall not sell, assign, transfer, pledge, hypothecate, mortgage, encumber or otherwise dispose of all or any of the Shares except as expressly provided in this Agreement. Notwithstanding, the Employee may transfer all or any of his her Shares: (a) by way of gift to any member of his her family or to any trust for the benefit of any such family member or the Employee; provided, however that any such transferee shall agree in writing with the Company, as a condition to such transfer, to be bound by all of the provisions of this Agreement to the same extent as if such transferee were the Employee, or by will or the laws of descent and distribution, in which event each transferee shall be bound by all of the provisions of this Agreement to the same extent as if such transferee were the Employee. As used herein, the word "family" shall include any spouse, lineal ancestor or descendant, brother or sister.

Limitations on Transfer of The Shares. The Employee shall not sell, assign, transfer, pledge, hypothecate, mortgage, encumber or otherwise dispose of all or any of the Shares except as expressly provided in this Agreement. Notwithstanding, the Employee may transfer all or any of his her Shares: (a) by way of gift to any member of his her family or to any trust for the benefit of any such family member or the Employee; provided, however that any such transferee shall agree in writing with the Company, as a condition to such transfer, to be bound by all of the provisions of this Agreement to the same extent as if such transferee were the Employee, or by will or the laws of descent and distribution, in which event each transferee shall be bound by all of the provisions of this Agreement to the same extent as if such transferee were the Employee. As used herein, the word "“family" ” shall include any spouse, lineal ancestor or descendant, brother or sister.