Common use of Option Nontransferable Clause in Contracts

Option Nontransferable. Optionee may not transfer or assign all or any part of the Option other than by will or by the laws of descent and distribution. This Option may be exercised, during the lifetime of Optionee, only by Optionee, or in the event of Optionee’s legal incapacity, by Optionee’s guardian or legal representative acting on behalf of Optionee in a fiduciary capacity under state law and court supervision.

Appears in 20 contracts

Samples: Nonqualified Stock Option Agreement (YETI Holdings, Inc.), Nonqualified Stock Option Agreement (YETI Holdings, Inc.), Nonqualified Stock Option Agreement (YETI Holdings, Inc.)

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Option Nontransferable. The Option granted hereby shall be neither transferable nor assignable by the Optionee may not transfer or assign all or any part of the Option other than by will or by the laws of descent and distribution. This Option distribution and may be exercised, during the lifetime of the Optionee, only by the Optionee, or in the event of Optionee’s his or her legal incapacity, by Optionee’s his or her guardian or legal representative acting on behalf of the Optionee in a fiduciary capacity under state law and court supervision.

Appears in 13 contracts

Samples: Incentive Stock Option Agreement (Aviall Inc), Employee Incentive Stock Option Agreement (Choicepoint Inc), Employment Agreement (Penton Media Inc)

Option Nontransferable. Optionee may not transfer or assign all or any part of the Option Options other than by will or by the laws of descent and distribution. This Option The Options may be exercised, during the lifetime of Optionee, only by Optionee, or in the event of Optionee’s legal incapacity, by Optionee’s guardian or legal representative acting on behalf of Optionee in a fiduciary capacity under state law and court supervision. Optionee shall be entitled to the privileges of ownership with respect to Shares purchased and delivered to Optionee upon the exercise of all or part of the Options.

Appears in 9 contracts

Samples: Nonqualified Stock Option Agreement, Nonqualified Stock Option Agreement (HealthMarkets, Inc.), Nonqualified Stock Option Agreement (HealthMarkets, Inc.)

Option Nontransferable. The Option granted hereby shall be neither transferable nor assignable by the Optionee may not transfer or assign all or any part of the Option other than by will or by the laws of descent and distribution. This Option distribution and may be exercised, during the lifetime of the Optionee, only by the Optionee, or in the event of Optionee’s his or her legal incapacity, by Optionee’s his or her guardian or legal representative acting on behalf of the Optionee in a fiduciary capacity under state or foreign law and court supervision.

Appears in 7 contracts

Samples: Incentive Stock Option Agreement (MTC Technologies Inc), Nonqualified Stock Option Agreement (Alderwoods Group Inc), Nonqualified Stock Option Agreement (Alderwoods Group Inc)

Option Nontransferable. Optionee may not transfer or assign all or any part of the Option other than by will or by the laws of descent and distribution. This Option may be exercised, during the lifetime of Optionee, only by Optionee, or in the event of Optionee’s 's legal incapacity, by Optionee’s 's guardian or legal representative acting on behalf of Optionee in a fiduciary capacity under state law and court supervision.

Appears in 7 contracts

Samples: Employment Agreement (Dwyer Group Inc), Employment Agreement (Dwyer Group Inc), Employment Agreement (Dwyer Group Inc)

Option Nontransferable. The Option granted hereby shall be neither transferable nor assignable by the Optionee may not transfer or assign all or any part of the Option other than except by will or by the laws of descent and distribution. This Option distribution and may be exercised, during the lifetime of the Optionee, only by the Optionee, or in the event of Optionee’s his or her legal incapacity, by Optionee’s his or her guardian or legal representative acting on behalf of the Optionee in a fiduciary capacity under state law and court supervision.

Appears in 6 contracts

Samples: Non Qualified Stock Option Agreement, Non Qualified Stock Option Agreement (Bear Creek Operations, Inc.), Incentive Stock Option Agreement (Bear Creek Operations, Inc.)

Option Nontransferable. The Option is not transferable by the Optionee may not transfer or assign all or any part of the Option other than except by will or by the laws of descent and distribution. This During the lifetime of the Optionee, the Option may be exercised, during the lifetime of Optionee, exercised only by the Optionee, or in the event of Optionee’s legal incapacity, by Optionee’s guardian or legal representative acting on behalf of Optionee in a fiduciary capacity under state law and court supervision.

Appears in 5 contracts

Samples: Nonqualified Stock Option Award Agreement (Cooper Tire & Rubber Co), Nonqualified Stock Option Award Agreement (Cooper Tire & Rubber Co), Nonqualified Stock Option Award Agreement (Cooper Tire & Rubber Co)

Option Nontransferable. Optionee may not transfer or assign all or any part of the Option Options other than by will or by the laws of descent and distribution. This Option The Options may be exercised, during the lifetime of Optionee, only by Optionee, or in the event of Optionee’s legal incapacity, by Optionee’s guardian or legal representative acting on behalf of Optionee in a fiduciary capacity under state law and court supervision.

Appears in 4 contracts

Samples: Nonqualified Stock Option Agreement (HealthMarkets, Inc.), Nonqualified Stock Option Agreement (HealthMarkets, Inc.), Nonqualified Stock Option Agreement (HealthMarkets, Inc.)

Option Nontransferable. The Option granted hereby shall be neither transferable nor assignable by an Optionee may not transfer or assign all or any part of the Option other than by will or by the laws of descent and distribution. This Option distribution and may be exercised, during the lifetime of the Optionee, only by the Optionee, or in the event of Optionee’s his or her legal incapacity, by Optionee’s his or her guardian or legal representative acting on behalf of the Optionee in a fiduciary capacity under state law and court supervision.

Appears in 3 contracts

Samples: Incentive Stock Option Agreement (Mainsource Financial Group), Nonqualified Stock Option Agreement (Mainsource Financial Group), Nonqualified Stock Option Agreement (Argo Tech Corp)

Option Nontransferable. Optionee may not transfer or assign all or any part of the Option Options other than by will or by the laws of descent and distribution. This Option The Options may be exercised, during the lifetime of Optionee, only by Optionee, or in the event of Optionee’s legal incapacity, by Optionee’s guardian or legal representative acting on behalf of Optionee in a fiduciary capacity under state law and court supervision. Optionee shall be entitled to the privileges of ownership with respect to the Shares purchased and delivered to Optionee upon the exercise of all or part of the Options.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (HealthMarkets, Inc.), Nonqualified Stock Option Agreement (HealthMarkets, Inc.)

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Option Nontransferable. The Optionee may not transfer or assign all or any part of the Option other than by will or by the laws of descent and distribution. This Option may be exercised, during the lifetime of the Optionee, only by the Optionee, or in the event of the Optionee’s legal incapacity, by the Optionee’s guardian or legal representative acting on behalf of the Optionee in a fiduciary capacity under state law and court supervision.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Diamond S Shipping Group, Inc.), Nonqualified Stock Option Agreement (Cumulus Media Inc)

Option Nontransferable. This Option is not transferable by the Optionee may not transfer or assign all or any part of the Option other otherwise than by will or by the laws of descent and distribution. This Option may be exercised, during the lifetime of the Optionee, only by Optionee, or in the event of Optionee’s legal incapacity, by Optionee’s guardian or legal representative acting on behalf of Optionee in a fiduciary capacity under state law and court supervision.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Athersys, Inc / New), Nonqualified Stock Option Agreement (Athersys, Inc / New)

Option Nontransferable. The Optionee may not transfer or assign all or any part of the Option Options other than by will or by the laws of descent and distribution. This Option The Options may be exercised, during the lifetime of the Optionee, only by the Optionee, or in the event of the Optionee’s legal incapacity, by the Optionee’s guardian or legal representative acting on behalf of the Optionee in a fiduciary capacity under state law and court supervision.

Appears in 1 contract

Samples: Employment Agreement (Cumulus Media Inc)

Option Nontransferable. Optionee may not transfer or assign all or any part of the Option other than by will or by the laws of descent and distribution. This Option may be exercised, during the lifetime of Optionee, only by Optionee, or in the event of Optionee’s legal incapacity, by Optionee’s ’ s guardian or legal representative acting on behalf of Optionee in a fiduciary capacity under state law and court supervision.

Appears in 1 contract

Samples: Option Agreement (Graham Packaging Co Inc.)

Option Nontransferable. Optionee may not transfer or of assign all or any part of the Option Options other than by will or by the laws of descent and distribution. This Option The Options may be exercised, during the lifetime of Optionee, only by Optionee, or in the event of Optionee’s legal incapacity, by Optionee’s guardian or legal representative acting on behalf of Optionee in a fiduciary capacity under state law and court supervision. Optionee shall be entitled to the privileges of ownership with respect to the Shares purchased and delivered to Optionee upon the exercise of all or part of the Options.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (HealthMarkets, Inc.)

Option Nontransferable. This Option is not assignable or transferable by the Optionee may not transfer or assign all or any part of the Option other otherwise than by will or by the laws of descent and distribution. This Option may be exercised, during the lifetime of the Optionee, only by Optionee, or in the event of Optionee’s legal incapacity, by Optionee’s guardian or legal representative acting on behalf of Optionee in a fiduciary capacity under state law and court supervision.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Athersys, Inc / New)

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