No Transfer of Options. (a) Other than in accordance with the Security Mortgage, Options granted under this Plan may not be assigned, transferred, encumbered with a Security Interest in or over them, or otherwise disposed of by a Participant, unless: (i) the prior consent of the Board is obtained, which consent may in its discretion be withheld or impose such terms and conditions on such assignment, transfer, encumbrance or disposal as the Board sees fit; or (ii) such assignment or transfer occurs by force of law upon the death of a Participant to the Participant's legal personal representative. (b) Unless the Board determines otherwise, where a Participant assigns, transfers, encumbers with a Security Interest in or over them, or otherwise disposes or attempts to do any of these actions in respect of an Option other than in accordance with this clause 6.5, the Option automatically lapses and will be cancelled by the Company. (c) The Company may implement any procedures it considers appropriate to restrict a Participant from assigning, transferring, encumbering with a Security Interest in or over them, or otherwise disposing of Options in accordance with clause 6.5.
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Samples: 2023 Non Executive Directors Long Term Incentive Plan, Senior Leadership Long Term Incentive Plan, Long Term Incentive Plan
No Transfer of Options. β
(a) Other than in accordance with the Security Mortgage, Options granted under this Plan may not be assigned, transferred, encumbered with a Security Interest in or over them, or otherwise disposed of by a Participant, unless:
(i) the prior consent of the Board is obtained, which consent may in its discretion be withheld or impose such terms and conditions on such assignment, transfer, encumbrance or disposal as the Board sees fit; or
(ii) such assignment or transfer occurs by force of law upon the death of a Participant to the Participant's legal personal representative.
(b) Unless the Board determines otherwise, where a Participant assigns, transfers, encumbers with a Security Interest in or over them, or otherwise disposes or attempts to do any of these actions in respect of an Option other than in accordance with this clause 6.5, the Option automatically lapses and will be cancelled by the Company.
(c) The Company may implement any procedures it considers appropriate to restrict a Participant from assigning, transferring, encumbering with a Security Interest in or over them, or otherwise disposing of Options in accordance with clause 6.5.
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