Common use of Non-Transferability of Management Options Clause in Contracts

Non-Transferability of Management Options. The Management Options are personal to Executive and are not transferable by Executive except pursuant to the laws of descent or distribution. Only Executive or his legal guardian or representative may exercise the Management Options.

Non-Transferability of Management Options. The Management ----------------------------------------- Options are personal to Executive and are not transferable by Executive except pursuant to the laws of descent or distribution. Only Executive or his legal guardian or representative may exercise the Management Options.