Options Not Transferable. Neither the Options 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 this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 11 contracts
Samples: 2012 Stock Purchase and Option Plan Of (Blue Buffalo Pet Products, Inc.), Non Qualified Share Option Agreement (Avago Technologies LTD), Non Qualified Share Option Agreement (Avago Technologies Manufacturing (Singapore) Pte. Ltd.)
Options Not Transferable. Neither the Options nor any interest or right therein or part thereof shall be liable for subject to 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 this Section 5.2 8.2 shall not prevent transfers by made solely for estate planning purposes or under a will or by the applicable laws of descent and distributioninheritance.
Appears in 8 contracts
Samples: Share Option Award Agreement (Willis Group Holdings PLC), Share Option Award Agreement (Willis Group Holdings PLC), Share Option Award Agreement (Willis Group Holdings PLC)
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee Employee or his the Employee’s successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition shall 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 this Section 5.2 5.1 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 5 contracts
Samples: Incentive Stock Option Agreement (Sequoia Vaccines, Inc.), Incentive Stock Option Agreement (Immunome Inc.), Form of Incentive Stock Option Agreement (Inovio Pharmaceuticals, Inc.)
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for subject to 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 this Section 5.2 8.2 shall not prevent transfers by made solely for estate planning purposes or under a will or by the applicable laws of descent and distributioninheritance.
Appears in 3 contracts
Samples: Share Option Award Agreement, Time Based Share Option Award Agreement (Willis Towers Watson PLC), Share Option Award Agreement (Willis Group Holdings PLC)
Options Not Transferable. Neither Except as may be provided in any other agreement between the Optionee and the Company, neither the Options 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 this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 3 contracts
Samples: Form of Stock Option Agreement (At&t Capital Corp /De/), Employment Agreement (At&t Capital Corp /De/), Stock Option Agreement (At&t Capital Corp /De/)
Options Not Transferable. Neither the Options 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 this Section 5.2 5.1 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 3 contracts
Samples: Stock Option Agreement (St John Trademarks Inc), Stock Option Agreement (St John Trademarks Inc), Stock Option Agreement (St John Trademarks Inc)
Options Not Transferable. Neither the Options nor any interest or right therein or part thereof shall be liable for subject to 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 this Section 5.2 6.2 shall not prevent transfers by made solely for estate planning purposes or under a will or by the applicable laws of descent and distributioninheritance.
Appears in 3 contracts
Samples: Willis Partners Plan (Willis Group Holdings PLC), Willis Partners Plan (Willis Group Holdings LTD), Willis Partners (Willis Group Holdings LTD)
Options Not Transferable. Neither the Options 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 this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 2 contracts
Samples: Stock Option Agreement (Pacificare Health Systems Inc /De/), Officer Directors Stock Option Plan (Pacificare Health Systems Inc /De/)
Options Not Transferable. Neither the Options 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 this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distributiondistribution or transfers without consideration to a Permitted Transferee to the extent permitted by the Plan.
Appears in 2 contracts
Samples: Non Qualified Stock Option Agreement (Peabody Energy Corp), Non Qualified Stock Option Agreement (Peabody Energy Corp)
Options Not Transferable. Neither the Options 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 this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distribution, or transfers without consideration to a Permitted Transferee as defined in Section 13 of the Plan.
Appears in 2 contracts
Samples: Grant Agreement (Peabody Energy Corp), Grant Agreement (Peabody Energy Corp)
Options Not Transferable. Neither the Options 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 this Section 5.2 shall not prevent transfers by will will, by qualified domestic relations order or by the applicable laws of descent and distribution.
Appears in 2 contracts
Samples: Non Qualified Stock Option Agreement (Pacificare Health Systems Inc /De/), Form of Non Qualified Stock Option Agreement (Pacificare Health Systems Inc /De/)
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee Employee or his the Employee’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; provided, however, that this Section 5.2 5.1 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 2 contracts
Samples: Nonqualified Stock Option Agreement (Annovis Bio, Inc.), Nonqualified Stock Option Agreement (Annovis Bio, Inc.)
Options Not Transferable. Neither the Options 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 this Section 5.2 6.2 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 2 contracts
Samples: Non Qualified Stock Option Agreement (L 3 Communications Holdings Inc), Non Qualified Stock Option Agreement (L 3 Communications Holdings Inc)
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for subject to the debts, contracts or engagements of the Optionee Executive 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 this Section 5.2 7.2 shall not prevent transfers by made solely for estate planning purposes or under a will or by the applicable laws of descent and distributioninheritance.
Appears in 2 contracts
Samples: Option Award Agreement (Willis Group Holdings PLC), Option Award Agreement (Willis Group Holdings PLC)
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee or his 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 shall 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 this Section 5.2 5.1 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 2 contracts
Samples: Non Qualified Stock Option Agreement (Sequoia Vaccines, Inc.), Incentive Stock Option Agreement (Immunome Inc.)
Options Not Transferable. Neither the Options 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 this Section 5.2 shall not prevent transfers by will or by the applicable laws laws, including those of descent and distribution.
Appears in 2 contracts
Samples: And Key Employees (Pacificare Health Systems Inc /De/), Pacificare Health Systems Inc /De/
Options Not Transferable. Neither the Options nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee or his its 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 this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 2 contracts
Samples: Share Option Agreement, Share Option Agreement (Avago Technologies LTD)
Options Not Transferable. Neither the Options 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 this Section 5.2 5.3 shall not prevent transfers by will or by the applicable laws of descent and distributiondistribution or transfers without consideration to a Permitted Transferee to the extent permitted by the Plan.
Appears in 2 contracts
Samples: Incentive Award Non Qualified Stock Option Agreement (Patriot Coal CORP), Non Qualified Stock Option Agreement (Patriot Coal CORP)
Options Not Transferable. Neither the Options nor any No Option or 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 nothing in this Section 5.2 6(l) shall not prevent transfers by will or by the applicable laws of descent and distribution, or transfers made with the express written authorization of the Committee, whose authorization may be withheld at its absolute discretion.
Appears in 2 contracts
Samples: Sales Agreement (Hartcourt Companies Inc), Sales Agreement (Hartcourt Companies Inc)
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee Employee or his the Employee’s successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition shall 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 this Section 5.2 5.1 shall not prevent transfers by will or by the applicable laws of descent and distributiondistribution in accordance with the Plan.
Appears in 2 contracts
Samples: Incentive Stock Option Agreement (Marinus Pharmaceuticals Inc), Incentive Stock Option Agreement (Marinus Pharmaceuticals Inc)
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee Director or his any of the Director’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; provided, however, that this Section 5.2 5.1 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 2 contracts
Samples: Nonqualified Stock Option Agreement (Marinus Pharmaceuticals Inc), Nonqualified Stock Option Agreement (Celator Pharmaceuticals Inc)
Options Not Transferable. Neither the Options 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 this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distributiondistribution or transfers without consideration to a Permitted Transferee to the extent permitted by the Plan.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Peabody Energy Corp)
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for subject to 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 this Section 5.2 7.2 shall not prevent transfers by made solely for estate planning purposes or under a will or by the applicable laws of descent and distributioninheritance.
Appears in 1 contract
Samples: Restricted Share Unit Award Agreement (Willis Group Holdings PLC)
Options Not Transferable. Neither the Options 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 this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distribution, nor transfers which are permitted by Section 10(c) of the Plan.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Keebler Foods Co)
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee Employee or his the Employee’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; provided, however, that this Section 5.2 5.1 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 1 contract
Samples: Nonqualified Stock Option Agreement (Celator Pharmaceuticals Inc)
Options Not Transferable. Neither the Options 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 this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distribution.. «Name» — Stock Option Agreement
Appears in 1 contract
Samples: Non Qualified Share Option Agreement (Avago Technologies Manufacturing (Singapore) Pte. Ltd.)
Options Not Transferable. Neither the Options nor any interest or right therein or part thereof shall be liable for subject to 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 this Section 5.2 8.2 shall not prevent transfers by made solely for estate planning purposes or under a will or by the applicable laws of descent and distributioninheritance.
Appears in 1 contract
Options Not Transferable. Neither the Options 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 this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 1 contract
Samples: Director Stock Option Agreement (Pacificare Health Systems Inc /De/)
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee or his the 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; provided, however, that this Section 5.2 5.1 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 1 contract
Samples: Nonqualified Stock Option Agreement (Inovio Pharmaceuticals, Inc.)
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee Employee or his the Employee's successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition shall 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 this Section 5.2 5.1 shall not prevent transfers by will or by the applicable laws of descent and distributiondistribution in accordance with the Plan.
Appears in 1 contract
Samples: Stock Option Agreement (STRATA Skin Sciences, Inc.)
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee Employee or his the Employee’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; provided, however, that this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 1 contract
Samples: Nonqualified Stock Option Agreement (Marinus Pharmaceuticals Inc)
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for the debts, contracts contracts, or engagements of the Optionee 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 this Section 5.2 4.2 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Hawaiian Electric Industries Inc)
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for the debts, contracts contracts, or engagements of the Optionee 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 this Section 5.2 6.2 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Hawaiian Electric Industries Inc)
Options Not Transferable. Neither the Options nor any No Option or 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 this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 1 contract
Options Not Transferable. Neither the Options 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 this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 1 contract
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee Director or his the Director's successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means means, whether such disposition be is voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment 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 nothing in this Section 5.2 5.1 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 1 contract
Samples: Individual Nonqualified Stock Option Agreement (Mountbatten Inc)
Options Not Transferable. Neither the Options Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee Employee or his the Employee'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; provided, however, that this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 1 contract
