Common use of Nontransferability of Options Clause in Contracts

Nontransferability of Options. The Option and this Agreement shall not be assignable or transferable by Optionee other than by will or by the laws of descent and distribution. During Optionee's lifetime, the Option and all rights of Optionee under this Agreement may be exercised only by Optionee (or by his guardian or legal representative). If the Option is exercised after Optionee's death, the Committee may require evidence reasonably satisfactory to it of the appointment and qualification of Optionee's personal representatives and their authority and of the right of any heir or distributee to exercise the Option.

Nontransferability of Options. The Option and this Agreement shall not be assignable or transferable by Optionee other than by will or by the laws of descent and distribution. During Optionee's ’s lifetime, the Option and all rights of Optionee under this Agreement may be exercised only by Optionee (or by his guardian or legal representative). If the Option is exercised after Optionee's ’s death, the Committee may require evidence reasonably satisfactory to it of the appointment and qualification of Optionee's ’s personal representatives and their authority and of the right of any heir or distributee to exercise the Option.

Nontransferability of Options. The Option and this Agreement shall not be assignable or transferable by Optionee other than by will or by the laws of descent and distribution. During Optionee's ’s lifetime, the Option and all rights of Optionee under this Agreement may be exercised only by Optionee (or by his guardian or legal representative). If the Option is exercised after Optionee's ’s death, the Committee Company may require evidence reasonably satisfactory to it of the appointment and qualification of Optionee's ’s personal representatives and their authority and of the right of any heir or distributee to exercise the Option.

Nontransferability of Options. The Option and this Agreement shall not be assignable or transferable by Optionee other than by will or by the laws of descent and distribution. During Optionee's ’s lifetime, the Option and all rights of Optionee under this Agreement may be exercised only by Optionee (or by his guardian or legal representative). If the Option is exercised after Optionee's ’s death, the Committee may require evidence reasonably satisfactory to it of the appointment and qualification of Optionee's personal ’s persona l representatives and their authority and of the right of any heir or distributee to exercise the Option.