Common use of No Assignment of Option Clause in Contracts

No Assignment of Option. This option is not assignable or transferable except upon the Optionee’s death to a beneficiary designated by the Optionee in a written beneficiary designation filed with the Company or, if no duly designated beneficiary shall survive the Optionee, pursuant to the Optionee’s will and/or by the laws of descent and distribution, and is exercisable during the Optionee’s lifetime only by the Optionee or the Optionee’s guardian or legal representative.

No Assignment of Option. This option is not assignable or transferable except upon the Optionee’s 's death to a beneficiary designated by the Optionee in a written beneficiary designation filed with the Company or, if no duly designated beneficiary shall survive the Optionee, pursuant to the Optionee’s 's will and/or by the laws of descent and distribution, and is exercisable during the Optionee’s 's lifetime only by the Optionee or the Optionee’s 's guardian or legal representative.