NON-TRANSFERABILITY OF OPTION RIGHTS. No option shall be transferable except by will or the laws of descent and distribution. During the lifetime of the optionee, the option shall be exercisable only by him. The Committee may, however, in its sole discretion, allow for transfer of options which are not incentive stock options to other persons or entities, subject to such conditions or limitations as it may establish.
Appears in 5 contracts
Samples: Employment Agreement, Management Investment Agreement (Capital Z Financial Services Fund Ii Lp), Management Investment Agreement (Capital Z Financial Services Fund Ii Lp)
