Nonassignability of Option Rights. No Option shall be transferable other than by will or by the laws of descent and distribution except to the parents, spouse, children or grandchildren of the Optionee. During the lifetime of an Optionee, only the Optionee or the permitted assignees may exercise an Option. Options assigned pursuant to this sub-section 2.(3) shall remain subject to the provisions of sub-section 2.(4).
Appears in 4 contracts
Samples: Employment Agreement (Myriad International Inc), Employment Agreement (Myriad International Inc), Employment Agreement (Myriad International Inc)
