NON-TRANSFERABLE OPTIONS. During the Optionee's lifetime, this Option shall be exercisable only by the Optionee and neither this Option nor any right hereunder may be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner otherwise than by will or by the laws of descent or distribution on the terms set forth in Section 13. The terms of this Option Agreement shall be binding upon the executors, administrator, heirs, successors and assigns of Optionee.
Appears in 4 contracts
Samples: Incentive Stock Option Agreement (Lithium Technology Corp), Incentive Stock Option Agreement (Lithium Technology Corp), Incentive Stock Option Agreement (U.S. Helicopter CORP)
NON-TRANSFERABLE OPTIONS. During the Optionee's lifetime, this Option shall be exercisable only by the Optionee and neither this Option nor any right hereunder may be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner otherwise than by will or by the laws of descent or distribution on the terms set forth in Section 13distribution. The terms of this Option Agreement shall be binding upon the executors, administratoradministrators, heirs, successors and assigns of Optionee.
Appears in 2 contracts
Samples: Incentive Stock Option Agreement (Stratus Services Group Inc), Incentive Stock Option Agreement (Stratus Services Group Inc)
NON-TRANSFERABLE OPTIONS. During the Optionee's lifetime, this Option shall be exercisable only by the Optionee and neither this Option nor any right hereunder may be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner otherwise than by will or by the laws of descent or distribution on the terms set forth in Section 1311 or otherwise with the consent of the Committee. The terms of this Option Agreement shall be binding upon the executors, administrator, heirs, successors and assigns of Optionee.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Consolidated Capital of North America Inc)
NON-TRANSFERABLE OPTIONS. During the Optionee's lifetime, this Option shall be exercisable only by the Optionee and neither this Option nor any right hereunder may be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner otherwise than by will or by the laws of descent or distribution on the terms set forth in Section 1313 or otherwise with the consent of the Committee. The terms of this Option Agreement shall be binding upon the executors, administrator, heirs, successors and assigns of Optionee.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Consolidated Capital of North America Inc)
