Common use of Options Non-Transferable Clause in Contracts

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 Options shall Option may not be transferable sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other than by the Optionee otherwise than by will, Optionee's last will or by the laws of descent and distribution, and shall may 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 only by operation of law the Optionee or otherwise, or be made subject to execution, attachment or similar processthe Beneficiary thereof.

Options Non-Transferable. The Options Option 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 Optioneehim. Neither the Options Option nor any interest therein may be transferred, sold, assigned, pledged or hypothecated by the Optionee during the Optionee's his lifetime, whether by operation of law or otherwise, or be made subject to execution, attachment or similar process.