Nontransferability of Purchase Right. The Purchase Right may be exercised during the lifetime of the Participant only by the Participant or the Participant’s guardian or legal representative and may not be assigned or transferred in any manner except by will or by the laws of descent and distribution. Following the death of the Participant, the Purchase Right may be exercised prior to the Expiration Date by the Participant’s legal representative or by any person empowered to do so under the deceased Participant’s will or under the then applicable laws of descent and distribution.
Appears in 4 contracts
Samples: Restricted Stock Purchase Agreement (SCOLR Pharma, Inc.), Restricted Stock Purchase Agreement (IdentiPHI, Inc.), Stock Purchase Agreement (Saflink Corp)
