Common use of Restrictions Generally Clause in Contracts

Restrictions Generally. The Option is personal to the Grantee and neither the Option nor any of the rights of the Grantee hereunder may be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) except by the laws of descent and distribution, nor shall the Option or any rights with respect thereto be subject to execution, attachment or similar process. Upon any attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights with respect thereto contrary to the provisions of this Agreement, or upon the placement or levy of any attachment or similar process on the Option or any of the Grantee’s rights hereunder, the Option and all such rights shall expire and become null and void, unless the Committee, in its discretion, determines otherwise.

Appears in 6 contracts

Samples: Incentive Stock Option Agreement (Alzamend Neuro, Inc.), Incentive Stock Option Agreement (Alzamend Neuro, Inc.), Non Qualified Stock Option Agreement (Emmaus Holdings, Inc.)

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Restrictions Generally. The This Option is personal to the Grantee Optionee and neither the Option nor any of the rights of the Grantee Optionee hereunder may be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) except by the laws of descent and distribution, nor shall the Option or any rights with respect thereto be subject to execution, attachment or similar process. Upon any attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights with respect thereto contrary to the provisions of this Agreement, or upon the placement or levy of any attachment or similar process on the Option or any of the GranteeOptionee’s rights hereunder, the Option and all such rights shall expire and become null and void, unless the Committee, in its discretion, determines otherwise.

Appears in 3 contracts

Samples: Stock Option Agreement (GT Solar International, Inc.), Stock Option Agreement (Mq Associates Inc), Stock Option Agreement (GT Solar International, Inc.)

Restrictions Generally. The This Option is personal to the Grantee Optionee and neither the Option nor any of the rights of the Grantee Optionee hereunder may be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) except by the laws of descent and distribution, nor shall the Option or any rights with respect thereto be subject to execution, attachment or similar process. Upon any attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights with respect thereto contrary to the provisions of this Agreement, or upon the placement or levy of any attachment or similar process on the Option or any of the Grantee’s Optionee's rights hereunder, the Option and all such rights shall expire and become null and void, unless the Committee, in its discretion, determines otherwise.

Appears in 2 contracts

Samples: Stock Option Agreement (GT Solar International, Inc.), Stock Option Agreement (GT Solar International, Inc.)

Restrictions Generally. The Option is All rights hereunder are personal to the Grantee Optionee and neither the Option Options nor any of the rights of the Grantee Optionee hereunder may be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) except by the laws of descent and distribution, nor shall the any Option or any rights with respect thereto be subject to execution, attachment or similar process. Upon any attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights with respect thereto contrary to the provisions of this Award Agreement, or upon the placement or levy of any attachment or similar process on the Option or any of the GranteeOptionee’s rights hereunder, the Option and all such rights shall expire and become null and void, unless the CommitteePlan Administrator, in its discretion, determines otherwise.

Appears in 2 contracts

Samples: Performance Award Agreement (Magellan Petroleum Corp /De/), Performance Award Agreement (Magellan Petroleum Corp /De/)

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Restrictions Generally. The Option is All rights hereunder are personal to the Grantee Optionee and neither the Option Options nor any of the rights of the Grantee Optionee hereunder may be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) except by the laws of descent and distribution, nor shall the any Option or any rights with respect thereto be subject to execution, attachment or similar process. Upon any attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights with respect thereto contrary to the provisions of this Award Agreement, or upon the placement or levy of any attachment or similar process on the Option or any of the GranteeOptionee’s rights hereunder, the Option and all such rights shall expire and become null and void, unless the CommitteePlan Administrator, in its discretion, determines otherwise.. (ii)

Appears in 1 contract

Samples: Agreement

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