Common use of Restriction on Disposition of Shares Clause in Contracts

Restriction on Disposition of Shares. The shares purchased pursuant ------------------------------------ to the exercise of an Incentive Stock Option shall not be transferred by the Optionee except pursuant to the Optionee's will, or the laws of descent and distribution, until such date which is the later of two years after the grant of such Incentive Stock Option or one year after the transfer of the shares to the Optionee pursuant to the exercise of such Incentive Stock Option.

Appears in 5 contracts

Samples: Stock Option Agreement (Intercept Group Inc), Stock Option Agreement (Intercept Group Inc), Stock Option Agreement (Intercept Group Inc)

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Restriction on Disposition of Shares. The shares purchased pursuant ------------------------------------ to the exercise of an Incentive Stock Option shall not be transferred by the Optionee except pursuant to the Optionee's will, or the laws of descent and distribution, until such date which is the later of two (2) years after the grant of such Incentive Stock Option or one (1) year after the transfer of the shares to the Optionee pursuant to the exercise of such Incentive Stock Option.

Appears in 2 contracts

Samples: Stock Option Agreement (North American Galvanizing & Coatings Inc), Stock Option Agreement (Kinark Corp)

Restriction on Disposition of Shares. The Unless the Company otherwise agrees in writing, the shares purchased pursuant ------------------------------------ to the exercise of an Incentive Stock Option shall not be transferred by the Optionee except pursuant to the Optionee's ’s will, or the laws of descent and distribution, until such date which is the later of two years after the grant of such Incentive Stock Option or one year after the transfer of the shares to the Optionee pursuant to the exercise of such Incentive Stock Option.

Appears in 2 contracts

Samples: Stock Option Agreement (GeoVax Labs, Inc.), Stock Option Agreement (GeoVax Labs, Inc.)

Restriction on Disposition of Shares. The shares purchased pursuant ------------------------------------ to the exercise of an Incentive Stock Option shall not be transferred by the Optionee except pursuant to the Optionee's will, or the laws of descent and distribution, until such date which is the later of two years after the grant of such Incentive Stock Option or one year after the transfer of the shares to the Optionee pursuant to the exercise of such Incentive Stock Option.

Appears in 2 contracts

Samples: Stock Option Agreement (Datapath Inc), Stock Option Agreement (Tekgraf Inc)

Restriction on Disposition of Shares. The shares purchased pursuant to ------------------------------------ to the exercise of an Incentive Stock Option shall not be transferred by the Optionee except pursuant to the Optionee's will, or the laws of descent and distribution, until such date which is the later of two years after the grant of such Incentive Stock Option or one year after the transfer of the shares to the Optionee pursuant to the exercise of such Incentive Stock Option.

Appears in 2 contracts

Samples: Stock Option Agreement (Netzee Inc), Stock Option Agreement (Intercept Group Inc)

Restriction on Disposition of Shares. The shares purchased pursuant to ------------------------------------ to the exercise of an Incentive Stock Option shall not be transferred by the Optionee except pursuant to the Optionee's will, will or the laws of descent and distribution, distribution until such date which is the later of two years after the grant of such Incentive Stock Option or one year after the transfer of the shares to the Optionee pursuant to the exercise of such Incentive Stock Option.

Appears in 2 contracts

Samples: Stock Option Agreement (Netzee Inc), Stock Option Agreement (Netzee Inc)

Restriction on Disposition of Shares. The shares Shares purchased pursuant ------------------------------------ to the exercise of an Incentive Stock Option shall not be transferred by the Optionee except pursuant to the Optionee's ’s will, or the laws of descent and distribution, until such date which is the later of two years after the grant of such Incentive Stock Option or one year after the transfer of the shares Shares to the Optionee pursuant to the exercise of such Incentive Stock Option.

Appears in 1 contract

Samples: Stock Option Agreement (MPS Group Inc)

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Restriction on Disposition of Shares. The shares of Stock purchased ------------------------------------ pursuant ------------------------------------ to the exercise of an Incentive Stock this Option shall not be transferred by the Optionee except pursuant to the Optionee's will, will or the laws of descent and distribution, distribution until such date which is the later of two (2) years after the grant Date of such Incentive Stock Option Grant or one (1) year after the transfer of the shares of Stock to the Optionee pursuant to the exercise of such Incentive Stock Option.

Appears in 1 contract

Samples: Stock Option Agreement (Centennial Healthcare Corp)

Restriction on Disposition of Shares. The shares purchased ------------------------------------ pursuant ------------------------------------ to the exercise of an Incentive Stock Option shall not be transferred by the Optionee except pursuant to the Optionee's will, or the laws of descent and distribution, until such date which is the later of two years after the grant of such Incentive Stock Option or one year after the transfer of the shares to the Optionee pursuant to the exercise of such Incentive Stock Option.

Appears in 1 contract

Samples: Stock Option Agreement (Intercept Group Inc)

Restriction on Disposition of Shares. The shares purchased pursuant ------------------------------------ to the exercise of an Incentive Stock Option shall not be transferred by the Optionee except pursuant to the Optionee's will, will or the laws of descent and distribution, distribution until such date which is the later of two years after the grant of such Incentive Stock Option or one year after the transfer of the shares to the Optionee pursuant to the exercise of such Incentive Stock Option.

Appears in 1 contract

Samples: Stock Option Agreement (Towne Services Inc)

Restriction on Disposition of Shares. The shares purchased pursuant ------------------------------------ to the exercise of an Incentive Stock Option shall not be transferred by the Optionee except pursuant to the Optionee's ’s will, or the laws of descent and distribution, until such date which is the later of two years after the grant of such Incentive Stock Option or one year after the transfer of the shares to the Optionee pursuant to the exercise of such Incentive Stock Option.

Appears in 1 contract

Samples: Stock Option Agreement (MPS Group Inc)

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