Common use of Non-Transferability of Option Clause in Contracts

Non-Transferability of Option. The Option, or any portion thereof, is not transferable except as designated by the Participant by will or by the laws of descent and distribution or pursuant to a domestic relations order. Except as provided in the immediately preceding sentence, the Option shall not be assigned, transferred, pledged, hypothecated or otherwise disposed of by the Participant in any way whether by operation of law or otherwise, and shall not be subject to execution, attachment or similar process. Any attempt at assignment, transfer, pledge, hypothecation or other disposition of the Option contrary to the provisions hereof, or the levy of any attachment or similar process upon the Option, shall be null and void and without effect.

Non-Transferability of Option. The Option, or any portion thereof, is not transferable except as designated by the Participant by will or by the laws of descent and distribution or pursuant to a domestic relations order. Except as provided in the immediately preceding sentence, the Option shall not be assigned, transferred, pledged, hypothecated hypothecated, or otherwise disposed of by the Participant in any way way, whether by operation of law or otherwise, and shall not be subject to execution, attachment attachment, or similar process. Any attempt at assignment, transfer, pledge, hypothecation hypothecation, or other disposition of the Option contrary to the provisions hereof, or the levy of any attachment or similar process upon the Option, shall be null and void and without effect.

Non-Transferability of Option. The Option, or any portion thereof, is not transferable except as designated This Option may be exercised only by the Participant Optionee or, if the Optionee dies, by the personal representative or designee under the Optionee’s will or by the laws of descent and distribution or pursuant to a domestic relations orderOptionee’s estate, as the case may be. Except as otherwise provided in the immediately preceding sentence, the this Option shall may not be assigned, transferred, pledged, pledged or hypothecated or otherwise disposed of by the Participant in any way whether way, shall not be assignable by operation of law or otherwise, and shall not be subject to execution, attachment or similar process. Any attempt at attempted assignment, transfer, pledge, hypothecation or other disposition of the this Option contrary to the provisions hereof, or and the levy of any execution, attachment or similar process upon the this Option, shall be null and void and without effect.

Non-Transferability of Option. The Option, or any portion thereof, is not transferable except as designated This option may be exercised only by the Participant Optionee or, if the Optionee dies, by the personal representative or designee under the Optionee's will or by the laws of descent and distribution or pursuant to a domestic relations orderOptionee's estate, as the case may be. Except as otherwise provided in the immediately preceding sentence, the Option shall this option may not be assigned, transferred, pledged, pledged or hypothecated or otherwise disposed of by the Participant in any way whether way, shall not be assignable by operation of law or otherwise, and shall not be subject to execution, attachment or similar process. Any attempt at attempted assignment, transfer, pledge, hypothecation or other disposition of the Option this option contrary to the provisions hereof, or and the levy of any execution, attachment or similar process upon the Optionthis option, shall be null and void and without effect.

Non-Transferability of Option. The Option, or any portion thereof, is not transferable except as designated This Option may be exercised only by the Participant Optionee or, if the Optionee dies, by the personal representative or designee under the Optionee's will or by the laws of descent and distribution or pursuant to a domestic relations orderOptionee's estate, as the case may be. Except as otherwise provided in the immediately preceding sentence, the this Option shall may not be assigned, transferred, pledged, pledged or hypothecated or otherwise disposed of by the Participant in any way whether way, shall not be assignable by operation of law or otherwise, and shall not be subject to execution, attachment or similar process. Any attempt at attempted assignment, transfer, pledge, hypothecation or other disposition of the this Option contrary to the provisions hereof, or and the levy of any execution, attachment or similar process upon the this Option, shall be null and void and without effect.

Non-Transferability of Option. The Option, or any portion thereof, is Option shall not be transferable except as designated by the Participant otherwise than by will or by the applicable laws of descent and distribution or pursuant to a domestic relations orderdistribution. Except as provided in More particularly (but without limiting the immediately preceding sentencegenerality of the foregoing), the Option shall may not be assigned, transferredtransferred (except as aforesaid), pledged, pledged or hypothecated or otherwise disposed of by the Participant in any way (whether by operation of law or otherwise, ) and shall not be subject to execution, attachment or similar process. Any attempt at attempted assignment, transfer, pledge, hypothecation or other disposition of the Option contrary to the provisions hereof, or and the levy of any execution, attachment or similar process upon the Option, shall be null and void and without effect.