Options Non-Transferable. This Option may not be transferred, assigned, pledged or hypothecated in any manner (whether by operation of law or otherwise) other than by will, by applicable laws of descent and distribution or (except in the case of an Incentive Stock Option) pursuant to a qualified domestic relations order, and shall not be subject to execution, attachment or similar process; provided, however, that if this Option represents a Non-Qualified Stock Option, such Option is transferable without payment of consideration to immediate family members of the Optionee or to trusts or partnerships established exclusively for the benefit of the Optionee and the Optionee's immediate family members. Upon any attempt to transfer, pledge, hypothecate or otherwise dispose of any Option or of any right of privilege conferred by the Plan contrary to the provisions thereof, or upon the sale, levy or attachment or similar process upon the rights and privileges conferred by the Plan, such Option shall thereupon terminate and become null and void.
Options Non-Transferable. The Options shall not be transferable by the Optionee otherwise than by will, or by the laws of descent and distribution, and shall be exercised during the lifetime of the Optionee only by the Optionee. Neither the Options nor any interest therein may be transferred, sold, assigned, pledged or hypothecated by the Optionee during the Optionee's lifetime, whether by operation of law or otherwise, or be made subject to execution, attachment or similar process.
Options Non-Transferable. The option rights with respect to the Options are non-transferable and are personal to Executive and may be exercised only by Executive and non one else.
Options Non-Transferable. The Participant shall not directly or indirectly sell, transfer, pledge, assign or otherwise encumber the Options or any interest in them or any Shares underlying the Options prior to exercise thereof, or make any commitment or agreement to do any of the foregoing, except to the extent permitted by Section 11.3 of the Plan.
Options Non-Transferable. The rights with respect to the Options are non-transferable and are personal to the Optionee and may be exercised only by the Optionee and by no one else.
Options Non-Transferable. The Conversion Options issued under the Plan are nontransferable except by will or by the laws of descent and distribution, and may be exercised only by the Optionee during his lifetime, as set forth in the applicable Conversion Agreement issued pursuant to the Plan. The Plan authorizes an Optionee to designate a person to exercise a Conversion Option after the death of the Optionee.
Options Non-Transferable. These options shall be neither transferable nor assignable by any MGIA Principal other than by will or by the laws of descent and distribution, and may be exercised during an MGIA Principal's lifetime only by such Principal.
Options Non-Transferable. Notwithstanding Article 14 of the Plan, an Option shall be personal to the Eligible Employee to whom it is granted and, subject to rule 24, shall not be capable of being transferred, charged or otherwise alienated and shall lapse immediately if the Option Holder purports to transfer, charge or otherwise alienate the Option. 14 Limit on number of Shares placed under Option under Sub-Plan For the avoidance of doubt, Shares placed under Option under the Sub-Plan shall be taken into account for the purpose of Article 4.1 of the Plan. 15 HM Revenue & Customs limit (£30,000) An Option may not be granted to an Eligible Employee if the result of granting the Option would be that the aggregate Market Value of the shares subject to all outstanding options granted to him under the Sub-Plan or any other share option scheme established by the Company or an Associated Company under Schedule 4) would exceed sterling £30,000 or such other limit as may from time to time be specified in paragraph 6 of Schedule 4.
Options Non-Transferable. Notwithstanding Article 14 of the Plan, an Option shall be personal to the Eligible Employee to whom it is granted and, subject to rule 24, shall not be capable of being transferred, charged or otherwise alienated and shall lapse immediately if the Option Holder purports to transfer, charge or otherwise alienate the Option.
Options Non-Transferable. No Option shall be transferable by an Optionee other than as permitted by the terms of the Plan.
