Limits on Transfer of Awards. (A) Except as provided in paragraph (C) below, each Option and UAR shall be exercisable only by the Participant during the Participant’s lifetime, or by the Person to whom the Participant’s rights shall pass by will or the laws of descent and distribution.
Appears in 5 contracts
Samples: Award Agreement (Marathon Petroleum Corp), Retention Agreement (MPLX Lp), Retention Agreement (MPLX Lp)
Limits on Transfer of Awards. (A) Except as provided in paragraph Paragraph (C) below, each Option and UAR Unit Appreciation Right shall be exercisable only by the Participant during the Participant’s lifetime, or by the Person person to whom the Participant’s rights shall pass by will or the laws of descent and distribution.
Appears in 2 contracts
Limits on Transfer of Awards. (A1) Except as provided in paragraph (C) below, each Option Award, and UAR each right under any Award, shall be exercisable as specified in the terms of the Award Agreement only by the Participant during the Participant’s lifetime, or by the Person person to whom the Participant’s rights shall pass by will or the laws of descent and distribution.
Appears in 2 contracts
Samples: Agreement and Plan of Reorganization (Chaparral Energy, Inc.), Agreement and Plan of Reorganization (United Refining Energy Corp)
Limits on Transfer of Awards. (A) 1. Except as provided in paragraph (CSection 6(e)(ii)(C) below, each Option and UAR Award shall be exercisable or payable only by to the Participant during the Participant’s lifetime, or by to the Person person to whom the Participant’s rights shall pass by will or the laws of descent and distribution.
Appears in 2 contracts
Samples: Option Agreement (Linn Energy, LLC), Option Agreement (Linn Energy, LLC)
