Common use of Options are not transferable Clause in Contracts

Options are not transferable. The optionee may not transfer the options; provided that upon the optionee's death the options may be transferred by will or by the laws of descent and distribution. During the lifetime of the optionee, the options shall be exercisable only by the optionee personally or, in the event of the optionee's Disability if a legal representative has been appointed to act on behalf of the optionee, then by the optionee's legal representative.

Options are not transferable. The optionee may not transfer the options; provided that upon the optionee's ’s death the options may be transferred by will or by the laws of descent and distribution. During the lifetime of the optionee, the options shall be exercisable only by the optionee personally or, in the event of the optionee's ’s Disability if a legal representative has been appointed to act on behalf of the optionee, then by the optionee's ’s legal representative.

Options are not transferable. The optionee may not assign or transfer the optionsOptions in any situation, including, but not limited to, divorce; provided that upon the optionee's ’s death the options Options may be transferred by will or by the laws of descent and distribution. During the lifetime of the optionee, the options Options shall be exercisable only by the optionee personally or, in the event of the optionee's ’s Disability if a legal representative has been appointed to act on behalf of the optionee, then by the optionee's ’s legal representative.

Options are not transferable. The optionee may not assign or transfer the optionsOptions in any situation, including, but not limited to, divorce; provided that upon the optionee's death the options Options may be transferred by will or by the laws of descent and distribution. During the lifetime of the optionee, the options Options shall be exercisable only by the optionee personally or, in the event of the optionee's Disability if a legal representative has been appointed to act on behalf of the optionee, then by the optionee's legal representative.

Options are not transferable. The optionee may not assign or transfer the optionsOptions in any situation, including, but not limited to, divorce; provided that upon the optionee's death the options Options may be transferred by will to the executor or by administrator of the laws of descent and distributionestate. During the lifetime of the optionee, the options Options shall be exercisable only by the optionee personally or, in the event of the optionee's Disability if a legal representative has been appointed to act on behalf of the optionee, then by the optionee's legal representative.

Options are not transferable. The optionee may not transfer the optionsOptions; provided that upon the optionee's ’s death the options Options may be transferred by will or by the laws of descent and distribution. During the lifetime of the optionee, the options Options shall be exercisable only by the optionee personally or, in the event of the optionee's ’s Disability if a legal representative has been appointed to act on behalf of the optionee, then by the optionee's ’s legal representative.