Common use of Option Not Transferable Clause in Contracts

Option Not Transferable. (a) The Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, or, subject to the consent of the Administrator, pursuant to a DRO, unless and until the shares of Stock underlying the Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest or right therein shall be liable for the debts, contracts or engagements of Participant 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, except to the extent that such disposition is permitted by the preceding sentence. (b) During the lifetime of Participant, only Participant may exercise the Option or any portion thereof, unless it has been disposed of with the consent of the Administrator pursuant to a DRO. After the death of Participant, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 3.3 hereof, be exercised by Participant’s personal 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.

Option Not Transferable. (a) The Subject to Section 5.2(b), the Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, distribution or, subject to the consent of the Administrator, pursuant to a DRO, unless and until the shares of Stock underlying the Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest or right therein shall be liable for the debts, contracts or engagements of Participant Holder 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, except to the extent that such disposition is permitted by the preceding sentence. (b) During Notwithstanding any other provision in this Agreement, with the consent of the Administrator and to the extent the Option is not intended to qualify as an Incentive Stock Option, the Option may be transferred to one or more Permitted Transferees, subject to the terms and conditions set forth in Section 10.1 of the Plan. (c) Unless transferred to a Permitted Transferee in accordance with Section 5.2(b), during the lifetime of ParticipantHolder, only Participant Holder may exercise the Option or any portion thereof, thereof unless it has been disposed of with the consent of the Administrator pursuant to a DRO. After the death of ParticipantXxxxxx, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 3.3 hereof3.3, be exercised by Participant’s Xxxxxx's personal representative or by any person empowered to do so under the deceased Participant’s Xxxxxx's will or under the then applicable laws of descent and distribution.

Option Not Transferable. (a) The Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, or, subject to the consent of the Administrator, distribution or pursuant to a DROQDRO, unless and until the shares of Stock underlying the Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest or right therein shall be liable for the debts, contracts or engagements of Participant 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, except to the extent that such disposition is permitted by the preceding sentence. (b) During the lifetime of ParticipantOptionee, only Participant Optionee may exercise the Option or any portion thereof, unless it has been disposed of with the consent of the Administrator pursuant to a DROQDRO. After the death of ParticipantOptionee, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 3.3 hereof3.3, be exercised by ParticipantOptionee’s personal representative or by any person empowered to do so under the deceased ParticipantOptionee’s will or under the then applicable laws of descent and distribution.

Option Not Transferable. (a) The Neither the Option may not nor any interest or right therein or part thereof shall be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, or, subject to the consent of the Administrator, pursuant to a DRO, unless and until the Option has been exercised, or the shares of Stock underlying the such Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of Participant 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, except to the extent that such disposition is permitted by the preceding sentence. (b) During the lifetime of Participantthe Optionee, only Participant the Optionee may exercise the Option (or any portion thereof, unless it has been disposed of with the consent of the Administrator pursuant to a DRO). After the death of Participantthe Optionee, any exercisable portion of the an Option may, prior to the time when the Option such portion becomes unexercisable under Section 3.3 hereofthe Option Agreement, be exercised by Participantthe Optionee’s personal representative or by any person empowered to do so under the deceased ParticipantOptionee’s will or under the then applicable laws of descent and distribution.

Option Not Transferable. (a) The Subject to Section 4.1(b), the Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, distribution or, subject to the consent of the Administrator, pursuant to a DRO, unless and until the shares of Stock underlying the Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest or right therein shall be liable for the debts, contracts or engagements of Participant Holder 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, except to the extent that such disposition is permitted by the preceding sentence. (b) During Notwithstanding any other provision in this Agreement, with the consent of the Administrator, the Option may be transferred to one or more Permitted Transferees, subject to the terms and conditions set forth in Section 10.1 of the Plan. (c) Unless transferred to a Permitted Transferee in accordance with Section 4.1(b), during the lifetime of ParticipantHolder, only Participant Holder may exercise the Option or any portion thereof, thereof unless it has been disposed of with the consent of the Administrator pursuant to a DRO. After the death of ParticipantXxxxxx, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 3.3 hereof2.3, be exercised by ParticipantXxxxxx’s personal representative or by any person empowered to do so under the deceased ParticipantXxxxxx’s will or under the then applicable laws of descent and distribution.

Option Not Transferable. (a) The Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, or, subject to the consent of the Administrator, pursuant to a DRO, unless and until the shares of Stock Shares underlying the Option have been issued, and all restrictions applicable to such shares of Stock Shares have lapsed. Neither the Option nor any interest or right therein shall be liable for the debts, contracts or engagements of Participant 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, except to the extent that such disposition is permitted by the preceding sentence. (b) During the lifetime of Participant, only Participant may exercise the Option or any portion thereof, unless it has been disposed of with the consent of the Administrator pursuant to a DRO. After the death of Participant, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 3.3 hereof, be exercised by Participant’s personal 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.

Option Not Transferable. (a) The Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, or, subject to the consent of the Administrator, pursuant to a DRO, unless and until the shares of Common Stock underlying the Option have been issued, and all restrictions applicable to such shares of Common Stock have lapsed. Neither the Option nor any interest or right therein shall be liable for the debts, contracts or engagements of Participant 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, except to the extent that such disposition is permitted by the preceding sentence. (b) During the lifetime of Participant, only Participant may exercise the Option or any portion thereof, unless it has been disposed of with the consent of the Administrator pursuant to a DRO. After the death of Participant, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 3.3 hereof2.3, be exercised by Participant’s personal 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.

Option Not Transferable. (a) The Subject to Section 5.2(b), the Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, or, subject to the consent of the Administrator, pursuant to a DRO, unless and until the shares of Stock underlying the Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest or right therein shall be liable for the debts, contracts or engagements of Participant 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, except to the extent that such disposition is permitted by the preceding sentence. (b) During the lifetime of ParticipantNotwithstanding any other provision in this Agreement, only Participant may exercise the Option or any portion thereof, unless it has been disposed of with the consent of the Administrator pursuant Administrator, the Participant may transfer the Option (or any portion thereof) to a DRO. After any one or more Permitted Transferees (as defined below), subject to the death of Participant, following terms and conditions: (i) any exercisable portion of the Option may, prior transferred to a Permitted Transferee shall not be assignable or transferable by the time when the Option becomes unexercisable under Section 3.3 hereof, be exercised Permitted Transferee other than by Participant’s personal 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.; (ii) any portion of the Option which is transferred to a Permitted Transferee shall continue to be subject to all the terms and conditions of the Option as applicable to the Participant (other than the ability to further transfer the Option); and (iii) the

Option Not Transferable. (a) The Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, distribution or, subject to the consent of the AdministratorCommittee, pursuant to a “DRO” (as defined in the Plan), unless and until the Option has been exercised, or the shares of Stock underlying the such Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest or right therein shall be liable for the debts, contracts or engagements of Participant 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, except to the extent that such disposition is permitted by the preceding sentence. (b) During the lifetime of Participantthe Optionee, only Participant the Optionee may exercise the Option (or any portion thereof), unless it has been disposed of with the consent of the Administrator Committee pursuant to a DRO. After the death of Participantthe Optionee, any exercisable portion of the an Option may, prior to the time when the Option such portion becomes unexercisable under Section 3.3 hereofthe Plan or the Option Agreement, be exercised by Participantthe Optionee’s personal representative or by any person empowered to do so under the deceased ParticipantOptionee’s will or under the then applicable laws of descent and distribution. (c) Notwithstanding the foregoing provisions of this Section 5.2, if designated as a Non-Qualified Stock Option, the Option may be transferred by the Optionee, in writing and with prior written notice to the Committee, to any one or more Permitted

Option Not Transferable. (a) The Subject to Section 5.2(b), the Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, or, subject to the consent of the Administrator, pursuant to a DRO, unless and until the shares of Stock underlying the Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest or right therein shall be liable for the debts, contracts or engagements of Participant 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, except to the extent that such disposition is permitted by the preceding sentence. (b) During the lifetime of ParticipantNotwithstanding any other provision in this Agreement, only Participant may exercise the Option or any portion thereof, unless it has been disposed of with the consent of the Administrator pursuant Administrator, the Participant may transfer the Option (or any portion thereof) to a DRO. After any one or more Permitted Transferees (as defined below), subject to the death of Participant, following terms and conditions: (i) any exercisable portion of the Option may, prior transferred to a Permitted Transferee shall not be assignable or transferable by the time when the Option becomes unexercisable under Section 3.3 hereof, be exercised Permitted Transferee other than by Participant’s personal 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.; (ii) any portion of the Option which is transferred to a Permitted Transferee shall continue to be subject to all the terms and conditions of the Option as applicable to the Participant (other than the ability to further transfer the Option); and (iii) the Participant

Option Not Transferable. (a) The Subject to Section 5.3(b) hereof, the Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, or, subject to the consent of the Administrator, pursuant to a DRO, unless and until the shares of Stock underlying the Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of Participant 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, except to the extent that such disposition is permitted by the preceding sentence. (b) During Notwithstanding any other provision in this Agreement, with the lifetime consent of Participantthe Administrator, only Participant the Option may be transferred to, exercised by and paid to one or more Permitted Transferees, subject to the terms and conditions set forth in Section 11.3 of the Plan. Subject to such conditions and procedures as the Administrator may require, a Permitted Transferee may exercise the Option or any portion thereof, unless it has been disposed of with therefor during the consent of the Administrator pursuant to a DRO. After the death of Participant, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 3.3 hereof, be exercised by ParticipantOptionee’s personal representative or by any person empowered to do so under the deceased Participant’s will or under the then applicable laws of descent and distributionlifetime.

Option Not Transferable. (a) The Subject to Section 5.2(b), the Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, or, subject to the consent of the Administrator, pursuant to a DRO, unless and until the shares of Stock underlying the Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest or right therein shall be liable for the debts, contracts or engagements of Participant 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, except to the extent that such disposition is permitted by the preceding sentence. (b) During Unless transferred to a permitted transferee in accordance with Section 10.3 of the Plan, during the lifetime of the Participant, only the Participant may exercise the Option or any portion thereof, unless it has been disposed of with the consent of . Subject to such conditions and procedures as the Administrator pursuant to may require, a DROpermitted transferee may exercise the Option or any portion thereof during Participant’s lifetime. After the death of Participant, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 3.3 hereofabove, be exercised by Participant’s personal representative or by any person empowered to do so under the deceased Participant’s will or under the then then-applicable laws of descent and distribution.

Option Not Transferable. (a) The Neither the Option may not nor any interest or right therein or part thereof shall be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, or, subject to the consent of the Administrator, pursuant to a DRO, unless and until the Option has been exercised, or the shares of Stock underlying the such Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of Participant 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, except to the extent that such disposition is permitted by the preceding sentence. (b) During the lifetime of Participantthe Optionee, only Participant the Optionee may exercise the Option (or any portion thereof, unless it has been disposed of with the consent of the Administrator pursuant to a DRO). After the death of Participantthe Optionee, any exercisable portion of the an Option may, prior to the time when the Option such portion becomes unexercisable under Section 3.3 hereofthe Plan or the Option Agreement, be exercised by Participantthe Optionee’s personal representative or by any person empowered to do so under the deceased ParticipantOptionee’s will or under the then applicable laws of descent and distribution.

Option Not Transferable. (a) The Neither the Option may not nor any interest or right therein or part thereof shall be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, distribution or, subject to the consent of the Administrator, pursuant to a DRO, unless and until the shares of Stock underlying the such Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of Participant Holder 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, except to the extent that such disposition is permitted by the preceding sentence. (b) . During the lifetime of ParticipantXxxxxx, only Participant he may exercise the an Option (or any portion thereof) granted to him under the Plan, unless it has been disposed of with the consent of the Administrator pursuant to a DRO. After the death of ParticipantXxxxxx, any exercisable portion of the an Option may, prior to the time when the Option such portion becomes unexercisable under Section 3.3 hereofthe Plan or this Agreement, be exercised by Participant’s his personal representative or by any person empowered to do so under the deceased ParticipantXxxxxx’s will or under the then applicable laws of descent and distribution.

Option Not Transferable. (a) The Subject to Section 4.1(b), the Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, distribution or, subject to the consent of the Administrator, pursuant to a DRO, unless and until the shares of Stock underlying the Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest or right therein shall be liable for the debts, contracts or engagements of Participant Holder 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, except to the extent that such disposition is permitted by the preceding sentence. (b) During Notwithstanding any other provision in this Agreement, with the consent of the Administrator, the Option may be transferred to one or more Permitted Transferees, subject to the terms and conditions set forth in Section 10.1 of the Plan. (c) Unless transferred to a Permitted Transferee in accordance with Section 4.1(b), during the lifetime of ParticipantHolder, only Participant Holder may exercise the Option or any portion thereof, thereof unless it has been disposed of with the consent of the Administrator pursuant to a DRO. After the death of ParticipantXxxxxx, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 3.3 hereof2.3, be exercised by Participant’s Xxxxxx's personal representative or by any person empowered to do so under the deceased Participant’s Xxxxxx's will or under the then applicable laws of descent and distribution.

Option Not Transferable. (a) The Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, distribution or, subject to the consent of the AdministratorCompany, pursuant to a DROdomestic relations order (as defined by the Code or Title I of the Employee Retirement Income Security Act of 1974, unless and until as amended, or the shares of Stock underlying the Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. rules promulgated thereunder) (a "Domestic Relations Order"). (b) Neither the Option nor any interest or right therein in the Option shall be liable for the debts, contracts or engagements of Participant Optionee or his or her Optionee's 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, except to the extent that such disposition is permitted by the preceding sentence. (bc) During the lifetime of ParticipantOptionee's lifetime, only Participant Optionee may exercise the Option (or any portion thereof, ) unless it the Option has been disposed of with the consent of the Administrator pursuant to a DRODomestic Relations Order in accordance with Section 9(a). After the death of ParticipantOptionee, any exercisable portion of the Option not previously exercised may, prior to the time when the Option becomes unexercisable under Section 3.3 hereofExpiration Date, be exercised by Participant’s Optionee's personal representative or by any person empowered to do so exercise the Option under the deceased Participant’s Optionee's will or under the then applicable laws of descent and distribution.

Option Not Transferable. (a) The Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, distribution or, subject to the consent of the AdministratorCommittee, pursuant to a “DRO” (as defined in the Plan), unless and until the Option has been exercised, or the shares of Stock underlying the such Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest or right therein shall be liable for the debts, contracts or engagements of Participant 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, except to the extent that such disposition is permitted by the preceding sentence.. Rev. 3 10/4/06 (b) During the lifetime of Participantthe Optionee, only Participant the Optionee may exercise the Option (or any portion thereof), unless it has been disposed of with the consent of the Administrator Committee pursuant to a DRO. After the death of Participantthe Optionee, any exercisable portion of the an Option may, prior to the time when the Option such portion becomes unexercisable under Section 3.3 hereofthe Plan or the Option Agreement, be exercised by Participantthe Optionee’s personal representative or by any person empowered to do so under the deceased ParticipantOptionee’s will or under the then applicable laws of descent and distribution.