Restriction on Transfer of Option and of Option Shares. Except to the extent the Committee deems permissible under Section 422(b) of the Internal Revenue Code of 1986, as amended, and consistent with the best interests of the Company, the Option evidenced hereby is nontransferable other than by will or the laws of descent and distribution and shall be exercisable during the lifetime of the Grantee only by the Grantee (or in the event of his disability, by his personal representative) and after his death, only by his legatee or the executor of his estate.
Appears in 4 contracts
Samples: Non Qualified Stock Option Agreement (Hughes Supply Inc), Non Qualified Stock Option Agreement (Hughes Supply Inc), Incentive Stock Option Agreement (Hughes Supply Inc)
