Common use of Option Not Transferable Clause in Contracts

Option Not Transferable. Except as otherwise permitted by the Committee in writing, neither the Option nor any interest or right therein or part thereof shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that, to the extent permitted by Applicable Law, this Section 5.2 shall not prevent transfers by will or by the Applicable Laws of descent and distribution.

Option Not Transferable. Except as otherwise permitted by the Committee in writing, neither Neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee or his successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that, to the extent permitted by Applicable Law, that this Section 5.2 5.1 shall not prevent transfers by will or by the Applicable Laws applicable laws of descent and distribution, or transfers to which the Committee has given prior written consent subject to the conditions set forth in Section 10.3(a) of the Plan.

Option Not Transferable. Except as otherwise permitted by the Committee in writing, neither Neither the Option nor any interest or right therein or part thereof (a) shall be liable for the debts, contracts or engagements of the Optionee or his or her successors in interest or (b) shall be subject in any manner to disposition by transfer, alienation, anticipationanticipation sale, pledge, encumbrance, assignment hypothecation, assignment, charge or any other means whether any such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that, to the extent permitted by Applicable Law, that this Section 5.2 shall not prevent transfers by will or by the Applicable Laws applicable laws of descent and distributiondistribution or other transfers authorized in limited circumstances by the Committee (or its Delegee).

Option Not Transferable. Except as otherwise permitted by the Committee in writing, neither the Neither this Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that, to the extent permitted by Applicable Law, that this Section 5.2 5.1 shall not prevent transfers by will or by the Applicable Laws applicable laws of descent and distribution, or transfers to which the Committee has given prior written consent subject to the conditions set forth in Section 11.3(a) of the Plan.

Option Not Transferable. Except as otherwise permitted by the Committee in writing(a) Subject to Section 5.2(b), neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Employee or his successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that, to the extent permitted by Applicable Law, that this Section 5.2 5.2(a) shall not prevent transfers by will or by the Applicable Laws applicable laws of descent and distributiondistribution or, to the extent not prohibited by the Code, pursuant to a QDRO.

Option Not Transferable. Except as otherwise permitted by the Committee in writing, neither the Option nor any interest or right therein or part thereof shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that, to the extent permitted by Applicable Law, this Section 5.2 6.2 shall not prevent transfers by will or by the Applicable Laws of descent and distribution.

Option Not Transferable. Except as otherwise permitted by the Committee in writing, neither the No Option nor any or interest or right therein or part thereof shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means means, whether such disposition be voluntary or involuntary or by operation of law or by judgment, levy, attachment, garnishment or any other legal or equitable proceedings proceeding (including bankruptcy), ) and any attempted disposition thereof shall be null and void and of no effect; provided, however, that, to the extent permitted by Applicable Law, -------- ------- that nothing in this Section 5.2 shall not prevent transfers by will or by the Applicable Laws applicable laws of descent and distribution.

Option Not Transferable. Except as otherwise permitted by the Committee in writingwriting or provided in the Stockholders Agreement, neither the Option nor any interest or right therein or part thereof shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that, to the extent permitted by Applicable Law, this Section 5.2 shall not prevent transfers by will or by the Applicable Laws of descent and distribution.

Option Not Transferable. Except as otherwise permitted by the Committee in writing, neither ​ Neither the Option nor any interest or right therein or part thereof (a) shall be liable for the debts, contracts or engagements of the Optionee or his or her successors in interest or (b) shall be subject in any manner to disposition by transfer, alienation, anticipationanticipation sale, pledge, encumbrance, assignment hypothecation, assignment, charge or any other means whether any such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that, to the extent permitted by Applicable Law, that this Section 5.2 shall not prevent transfers by will or by the Applicable Laws applicable laws of descent and distribution.distribution or other transfers authorized in limited circumstances by the Committee (or its Delegee). ​

Option Not Transferable. Except as otherwise permitted by the Committee in writing, neither Neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Holder or his successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or of any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that, to the extent permitted by Applicable Law, that this Section 5.2 shall not prevent transfers by will or by the Applicable Laws applicable laws of descent and distribution. Notwithstanding the foregoing, the Committee may, in its discretion, permit the Holder to transfer the Option, or any portion thereof, to such Holder’s spouse, lineal descendent or trust established for the benefit thereof.

Option Not Transferable. Except as otherwise permitted by the Committee in writing, neither Neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee or his successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that, to the extent permitted by Applicable Law, that nothing in this Section 5.2 shall not prevent transfers by will or by the Applicable Laws applicable laws of descent and distribution, or, to the extent not prohibited by the Code, pursuant to a qualified domestic relations order (as defined in the Code).

Option Not Transferable. Except as otherwise permitted by the Committee in writing, neither the No Option nor any or interest or right therein or part thereof shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means means, whether such disposition be voluntary or involuntary or by operation of law or by judgment, levy, attachment, garnishment or any other legal or equitable proceedings proceeding (including bankruptcy), ) and any attempted disposition thereof shall be null and void and of no effect; provided, -------- however, that, to the extent permitted by Applicable Law, that nothing in this Section 5.2 shall not prevent transfers by will or by ------- the Applicable Laws applicable laws of descent and distribution.

Option Not Transferable. Except as otherwise permitted by the Committee in writing, neither Neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Holder or his successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or of any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that, to the extent permitted by Applicable Law, that this Section 5.2 shall not prevent transfers by will or by the Applicable Laws applicable laws of descent and distribution. Notwithstanding the foregoing, the Committee may, in its discretion, permit the holder of any Non-Qualified Option to transfer such Option, or any portion thereof, to such holder’s spouse, lineal descendent or trust established for the benefit thereof or any other person or entity.

Option Not Transferable. Except as otherwise (a) Subject to Section 5.2(b) and except to the extent permitted by the Committee in writingPlan, neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Director or his successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that, to the extent permitted by Applicable Law, that this Section 5.2 5.2(a) shall not prevent transfers by will or by the Applicable Laws applicable laws of descent and distributiondistribution or, to the extent not prohibited by the Code, pursuant to a DRO.

Option Not Transferable. Except as otherwise permitted by the Committee in writing, neither Neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that, to the extent permitted by Applicable Law, that this Section 5.2 5.1 shall not prevent transfers by will or by the Applicable Laws applicable laws of descent and distribution, or transfers to which the Committee has given prior written consent subject to the conditions set forth in Section 10.3(a) of the Plan.

Option Not Transferable. Except as otherwise permitted by the Committee in writing(a) Subject to Section 5.2(b), neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Director or his successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that, to the extent permitted by Applicable Law, that this Section 5.2 5.2(a) shall not prevent transfers by will or by the Applicable Laws applicable laws of descent and distributiondistribution or, to the extent not prohibited by the Code, pursuant to a QDRO.