Persons Eligible to Exercise Option. This option shall be exercisable during the Director’s lifetime only by the Director. The option shall not be transferable by the Director, except by (a) a valid beneficiary designation made in a form and manner acceptable to the Board, or (b) will or the applicable laws of descent and distribution.
Appears in 11 contracts
Samples: Nonqualified Stock Option Agreement, Nonqualified Stock Option Agreement, Nonqualified Stock Option Agreement (Varian Medical Systems Inc)
Persons Eligible to Exercise Option. This option shall be exercisable during the Director’s 's lifetime only by the Director. The option shall not be transferable by the Director, except by (a) a valid beneficiary designation made in a form and manner acceptable to the Board, or (b) will or the applicable laws of descent and distribution.
Appears in 3 contracts
Samples: Plan Nonqualified Stock Option Agreement (Varian Medical Systems Inc), Varian Medical Systems Inc, Varian Medical Systems Inc
