Nonassignability of Option. This Option shall not be assignable or transferable by the Optionee except by will or by the laws of descent and distribution. During the life of the Optionee, this Option shall be exercisable only by him, by a conservator or guardian duly appointed for him by reason of his incapacity or by the person appointed by the Optionee in a durable power of attorney acceptable to the Company’s counsel.
Nonassignability of Option. The Option shall not be assignable or transferable by the Optionee except by will or by the laws of descent and distribution. Any distributee by will or by the laws of descent and distribution shall be bound by the provisions of the Plan and this Agreement. During the life of the Optionee, the Option shall be exercisable only by the Optionee. Any attempt to assign, pledge, transfer, hypothecate or otherwise dispose of the Option, and any levy of execution, attachment or similar process on the Option, shall be null and void.
Nonassignability of Option. The Option is not assignable or transferable by the Awardee except by will or by the laws of descent and distribution. During the lifetime of the Awardee, only the Awardee or Awardee’s guardian or legal representative shall be entitled to exercise the Option.
Nonassignability of Option. This Option may not be assigned, pledged or transferred by the Holder other than by will or by the laws of descent and distribution, and during the Holder's lifetime, such this Option may be exercised only by the Holder. Any attempt to assign, pledge, transfer, hypothecate or otherwise dispose of this Option and any levy of execution, attachment, or similar process on this Option, shall be null and void.
Nonassignability of Option. This Option is not assignable or transferable by Holder except in accordance with Section 13 of the Plan. Any attempt to assign, pledge, transfer, hypothecate or otherwise dispose of this Option in a manner not herein permitted, and any levy of execution, attachment, or similar process on this Option, shall be null and void.
Nonassignability of Option. The Option shall not be assignable or transferrable by the Optionee except by will or by the laws of descent and distribution in accordance with Sections 4(b). Any distributee by will or by the laws of descent and distribution
Nonassignability of Option. Except as provided in the following sentence, neither the Option nor any of the Optionee’s rights and interests under the Plan or this Agreement may be assigned or transferred by the Optionee in whole or in part either directly or by operation of law or otherwise (except by will or the laws of descent and distribution in the event of the Optionee’s death); and neither the Option nor any of the Optionee’s rights and interests under the Plan or this Agreement may be pledged, encumbered, or otherwise subjected to any obligation or liability of the Optionee. After giving at least thirty (30) days’ prior written notice to the Secretary of the Company, the Optionee may assign the Option in whole or in part to a Family Member or a Family Entity at any time prior to the expiration, termination, or cancellation of the Option, subject to all of the terms and conditions of the Plan and this Agreement; provided, that any such assignment shall be in writing, the Optionee promptly shall deliver a copy of any such assignment to the Secretary of the Company, and the Optionee and the assignee shall enter into such further agreement with the Company providing for the satisfaction of applicable federal, state, and local tax withholding requirements arising from or in connection with the exercise of the Option as the Company may require. A Family Member or a Family Entity to whom the Option has been assigned pursuant to the preceding sentence also shall be subject to the restrictions, limitations, and requirements contained in the first two sentences of this Paragraph 9. For purposes of this Paragraph 9, “Family Member” means only (i) the Optionee, (ii) a spouse, parent, child or more remote descendant, brother, sister, xxxxx, or nephew of the Optionee, and (iii) a spouse of a brother, sister, child, or more remote descendant of the Optionee. For purposes of this Paragraph 9, “Family Entity” means only (i) a corporation, partnership, or limited liability company all of whose equity interests are owned by Family Members or other Family Entities and (ii) a trust or custodianship for the exclusive benefit of one or more Family Members (other than non-Family Member contingent beneficiaries whose rights arise only if no Family Member beneficiary is living). Subject to the first two sentences of Paragraph 2, the exercisability of the Option by a Family Member or a Family Entity to whom the Option has been assigned pursuant to this Paragraph 9 shall be determined by reference to the...
Nonassignability of Option. This Agreement may not be assigned or transferred by Employee otherwise than by will or the laws of descent and distribution.
Nonassignability of Option. Neither the Option nor any of the Optionee’s rights and interests under the Plan or this Agreement may be assigned or transferred by the Optionee in whole or in part either directly or by operation of law or otherwise (except by will or the laws of descent and distribution in the event of the Optionee’s death); and neither the Option nor any of the Optionee’s rights and interests under the Plan or this Agreement may be pledged, encumbered, or otherwise subjected to any obligation or liability of the Optionee.
Nonassignability of Option. This Option is personal and no rights granted hereunder may be transferred, assigned, pledged, hypothecated in any way (whether by operation of law or otherwise) nor shall any such rights be subject to execution, attachment or similar process, except that this Option may be transferred, in whole or in part, (i) by will or the laws of descent and distribution; (ii) to any organization that is exempt from Federal income taxation pursuant to Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the "Code") or any private foundation that is exempt for Federal income taxation under Section 509 of the Code, provided that such organization or foundation agrees to be bound by the terms of this Agreement and any reasonable conditions that the Company may impose in order to assure compliance with its obligations under the Federal securities laws; and (iii) to any Immediate Family Member or to any trust, the sole beneficiaries of which are the Optionee and/or his Immediate Family Members, or to any entity (including, without limitation, any corporation, partnership or limited liability company) in which the Optionee, his Immediate Family Members or trusts, solely for the benefits of such persons hold all the beneficial interests, provided that such Immediate Family Members and/or trusts and/or other entities (and upon distribution their beneficiaries) are bound by the provisions of this Agreement. For purposes of this Agreement, the term "Immediate Family Member" shall mean the Optionee's parents and spouse and any of the lineal descendants of the Optionee, his spouse or either of his parents (including, without limitation, descendants by adoption). Any person or entity to whom this Option has been transferred in whole or in part in part in accordance with this Section 12 shall to the extent of the transfer, succeed to the rights of the Optionee under Sections 3, 4(a), 4(c), 5, 7, 8, 9, 17 and 18.
