Common use of Restrictions on Transfer of Option Clause in Contracts

Restrictions on Transfer of Option. (a) Except as provided in Section 5(b), the Option shall be exercisable during Optionee's lifetime only by Optionee, and neither the Option nor any right hereunder shall be transferable except by will or the laws of descent and distribution. The Option may not be subject to execution or other similar process. If Optionee attempts to alienate, assign, pledge, hypothecate or otherwise dispose of the Option or any of the Optionee's rights hereunder, except as provided herein or in Section 5(b), or in the event of any levy or any attachment, execution or similar process upon the rights or interests hereby conferred, Company may terminate the Option by notice to Optionee and it shall thereupon become null and void. (b) Optionee may, subject to any restrictions under Section 16(b) of the Exchange Act, transfer all rights under this Agreement to (i) Optionee's spouse or lineal descendants ("Immediate Family Members"), (ii) a trust or trusts for the exclusive benefit of such Optionee and his Immediate Family Members, or (iii) a partnership or limited liability company in which such Optionee and his Immediate Family Members are the only partners or members, as applicable; provided that (a) any such transfer must be without any consideration to Optionee for such transfer, and (b) all subsequent transfers of any rights under this Agreement shall be prohibited other than by bequest or the laws of descent and distribution. Following any such transfer, this Agreement shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for purposes of this Agreement (excluding Section 6 hereof) the term "Optionee" shall be deemed to refer to the transferee. Any rights to exercise the Option transferred hereunder shall be exercisable by the transferee only to the extent, and for the periods, specified in this Agreement.

Restrictions on Transfer of Option. (a) Except as provided in Section 5(b), the Option shall be exercisable during Optionee's ’s lifetime only by Optionee, and neither the Option nor any right hereunder shall be transferable except by will or the laws of descent and distribution. The Option may not be subject to execution or other similar process. If Optionee attempts to alienate, assign, pledge, hypothecate or otherwise dispose of the Option or any of the Optionee's ’s rights hereunder, except as provided herein or in Section 5(b), or in the event of any levy or any attachment, execution or similar process upon the rights or interests hereby conferred, Company may terminate the Option by notice to Optionee and it shall thereupon become null and void. (b) Optionee may, subject to any restrictions under Section 16(b) of the Exchange Act, transfer all rights under this Agreement to (i) Optionee's ’s spouse or lineal descendants ("“Immediate Family Members"”), (ii) a trust or trusts for the exclusive benefit of such Optionee and his her Immediate Family Members, or (iii) a partnership or limited liability company in which such Optionee and his her Immediate Family Members are the only partners or members, as applicable; provided that (a) any such transfer must be without any consideration to Optionee for such transfer, and (b) all subsequent transfers of any rights under this Agreement shall be prohibited other than by bequest or the laws of descent and distribution. Following any such transfer, this Agreement shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for purposes of this Agreement and the Plan (excluding Section 6 hereofhereof and Section 4.2 of the Plan) the term "“Optionee" ” shall be deemed to refer to the transferee. Any rights to exercise the Option transferred hereunder shall be exercisable by the transferee only to the extent, and for the periods, specified in this Agreement.

Restrictions on Transfer of Option. (a) Except as provided in Section 5(b), the Option shall be exercisable during Optionee's ’s lifetime only by Optionee, and neither the Option nor any right hereunder shall be transferable except by will bequest or the laws of descent and distribution. The Option may not be subject to execution or other similar process. If Optionee attempts to alienate, assign, pledge, hypothecate or otherwise dispose of the Option or any of the Optionee's ’s rights hereunder, except as provided herein or in Section 5(b), or in the event of any levy or any attachment, execution or similar process upon the rights or interests hereby conferred, the Company may terminate the Option by notice to Optionee Optionee, and it shall thereupon become null and void. (b) Optionee maymay transfer, subject to any restrictions under Section 16(b) of the Exchange Act, transfer all rights under this Agreement to (i) Optionee's ’s spouse or lineal descendants ("“Immediate Family Members"”), (ii) a trust or trusts for the exclusive benefit of such Optionee and his and/or Optionee’s Immediate Family Members, or (iii) a partnership or limited liability company in which such Optionee and his and/or Optionee’s Immediate Family Members are the only partners or members, as applicable; provided that (a) any such transfer must be without any consideration to Optionee for such transfer, and (b) all subsequent transfers of any rights under this Agreement shall be prohibited other than by bequest or the laws of descent and distribution. Following any such transfer, this Agreement shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for purposes of this Agreement and the Plan (excluding Section 6 hereof) hereof and Section 4.2 of the Plan), the term "“Optionee" ” shall be deemed to refer to the transferee. Any rights to exercise the Option transferred hereunder shall be exercisable by the transferee only to the extent, and for the periods, specified in this Agreement.

Restrictions on Transfer of Option. (a) Except as provided in Section 5(b), the Option shall be exercisable during Optionee's ’s lifetime only by Optionee, and neither the Option nor any right hereunder shall be transferable except by will bequest or the laws of descent and distribution. The Option may not be subject to execution or other similar process. If Optionee attempts to alienate, assign, pledge, hypothecate or otherwise dispose of the Option or any of the Optionee's ’s rights hereunder, except as provided herein or in Section 5(b), or in the event of any levy or any attachment, execution or similar process upon the rights or interests hereby conferred, the Company may terminate the Option by notice to Optionee Optionee, and it shall thereupon become null and void. (b) Optionee maymay transfer, subject to in accordance with the Plan, any restrictions under Section 16(b) of the Exchange Act, transfer or all rights under this Agreement to (i) Optionee's spouse ’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or lineal descendants sister-in-law, including adoptive relationships, or any person sharing the Optionee’s household ("Immediate other than a tenant or employee) (“Family Members"”), (ii) a trust or trusts for in which Optionee and/or Optionee’s Family Members have more than 50% of the exclusive benefit of such Optionee and his Immediate Family Membersbeneficial interest, or (iii) a partnership or partnership, limited liability company or other entity in which such Optionee and his Immediate and/or Optionee’s Family Members are own more than 50% of the only partners or members, as applicablevoting interests in exchange for an interest in the entity; provided that (a) any such transfer must be without any consideration to Optionee for such transfertransfer (other than interests in such partnership, limited liability company or other entity), and (b) all subsequent transfers of any rights under this Agreement shall be prohibited other than by bequest or the laws of descent and distribution. Following any such transfer, this Agreement shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for purposes of this Agreement and the Plan (excluding Section 6 hereof) the term "“Optionee" ” shall be deemed to refer to the transferee. Any rights to exercise the Option transferred hereunder shall be exercisable by the transferee only to the extent, and for the periods, specified in this Agreement.

Restrictions on Transfer of Option. (a) Except as provided in Section 5(b), the Option shall be exercisable during Optionee's ’s lifetime only by Optionee, and neither the Option nor any right hereunder shall be transferable except by will bequest or the laws of descent and distribution. The Option may not be subject to execution or other similar process. If Optionee attempts to alienate, assign, pledge, hypothecate or otherwise dispose of the Option or any of the Optionee's ’s rights hereunder, except as provided herein or in Section 5(b), or in the event of any levy or any attachment, execution or similar process upon the rights or interests hereby conferred, the Company may terminate the Option by notice to Optionee Optionee, and it shall thereupon become null and void. (b) Optionee maymay transfer, subject to in accordance with the Plan, any restrictions under Section 16(b) of the Exchange Act, transfer or all rights under this Agreement to (i) Optionee's spouse ’s spouse, children or lineal descendants grandchildren ("“Immediate Family Members"”), (ii) a trust or trusts for the exclusive benefit of such Optionee and his and/or Optionee’s Immediate Family Members, Members or (iii) a partnership or limited liability company in which such Optionee and his and/or Optionee’s Immediate Family Members are the only partners or members, as applicable; provided that (a) any such transfer must be without any consideration to Optionee for such transfer, and (b) all subsequent transfers of any rights under this Agreement shall be prohibited other than by bequest or the laws of descent and distribution. Following any such transfer, this Agreement shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for purposes of this Agreement and the Plan (excluding Section 6 hereofhereof and Section 6.7 of the Plan) the term "“Optionee" ” shall be deemed to refer to the transferee. Any rights to exercise the Option transferred hereunder shall be exercisable by the transferee only to the extent, and for the periods, specified in this Agreement.

Restrictions on Transfer of Option. (a) Except as provided in Section 5(b)) below, the Option shall be exercisable during Optionee's ’s lifetime only by Optionee, and neither the Option nor any right hereunder shall be transferable except by will bequest or the laws of descent and distribution. The Option may not be subject to execution or other similar process. If Optionee attempts to alienate, assign, pledge, hypothecate or otherwise dispose of the Option or any of the Optionee's ’s rights hereunder, except as provided herein in this Section 5(a) or in Section 5(b)) below, or in the event of any levy or any attachment, execution or similar process upon the rights or interests hereby conferred, the Company may terminate the Option by notice to Optionee Optionee, and it shall thereupon become null and void. (b) Optionee maymay transfer, subject to in accordance with the Plan, any restrictions under Section 16(b) of the Exchange Act, transfer or all rights under this Agreement to (i) Optionee's spouse ’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or lineal descendants sister-in-law, including adoptive relationships, or any person sharing the Optionee’s household ("Immediate other than a tenant or employee) (“Family Members"”), (ii) a trust or trusts for in which Optionee and/or Optionee’s Family Members have more than 50% of the exclusive benefit of such Optionee and his Immediate Family Membersbeneficial interest, or (iii) a partnership or partnership, limited liability company or other entity in which such Optionee and his Immediate and/or Optionee’s Family Members are own more than 50% of the only partners or members, as applicablevoting interests in exchange for an interest in the entity; provided that (a) any such transfer must be without any consideration to Optionee for such transfertransfer (other than interests in such partnership, limited liability company or other entity), and (b) all subsequent transfers of any rights under this Agreement shall be prohibited other than by bequest or the laws of descent and distribution. Following any such transfer, this Agreement shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for purposes of this Agreement and the Plan (excluding Section 6 hereofof this Agreement) the term "“Optionee" ” shall be deemed to refer to the transferee. Any rights to exercise the Option transferred hereunder shall be exercisable by the transferee only to the extent, and for the periods, specified in this Agreement.

Restrictions on Transfer of Option. (a) Except as provided in Section 5(b), the Option shall be exercisable during Optionee's ’s lifetime only by Optionee, and neither the Option nor any right hereunder shall be transferable except by will bequest or the laws of descent and distribution. The Option may not be subject to execution or other similar process. If Optionee attempts to alienate, assign, pledge, hypothecate or otherwise dispose of the Option or any of the Optionee's ’s rights hereunder, except as provided herein or in Section 5(b), or in the event of any levy or any attachment, execution or similar process upon the rights or interests hereby conferred, the Company may terminate the Option by notice to Optionee Optionee, and it shall thereupon become null and void. (b) Optionee maymay transfer, subject to any restrictions under Section 16(b) of in accordance with the Exchange ActPlan, transfer all rights under this Agreement to (i) Optionee's spouse ’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or lineal descendants sister-in-law, including adoptive relationships, or any person sharing Optionee’s household ("Immediate other than a tenant or employee) (“Family Members"”), (ii) a trust or trusts for in which Optionee and/or Optionee’s Family Members have more than 50% of the exclusive benefit of such Optionee and his Immediate Family Membersbeneficial interest, or (iii) a partnership or partnership, limited liability company or other entity in which such Optionee and his Immediate and/or Optionee’s Family Members are own more than 50% of the only partners or members, as applicablevoting interests in exchange for an interest in the entity; provided that (a) any such transfer must be without any consideration to Optionee for such transfertransfer (other than interests in such partnership, limited liability company or other entity), and (b) all subsequent transfers of any rights under this Agreement shall be prohibited other than by bequest or the laws of descent and distribution. Following any such transfer, this Agreement shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for purposes of this Agreement and the Plan (excluding Section 6 hereof) ), the term "“Optionee" ” shall be deemed to refer to the transferee. Any rights to exercise the Option transferred hereunder shall be exercisable by the transferee only to the extent, and for the periods, specified in this Agreement.

Restrictions on Transfer of Option. (a) Except as provided in Section 5(b)) below, the Option shall be exercisable during Optionee's ’s lifetime only by Optionee, and neither the Option nor any right hereunder shall be transferable except by will bequest or the laws of descent and distribution. The Option may not be subject to execution or other similar process. If Optionee attempts to alienate, assign, pledge, hypothecate or otherwise dispose of the Option or any of the Optionee's ’s rights hereunder, except as provided herein in this Section 5(a) or in Section 5(b)) below, or in the event of any levy or any attachment, execution or similar process upon the rights or interests hereby conferred, the Company may terminate the Option by notice to Optionee Optionee, and it shall thereupon become null and void. (b) Optionee maymay transfer, subject to in accordance with the Plan, any restrictions under Section 16(b) of the Exchange Act, transfer or all rights under this Agreement to (i) Optionee's spouse ’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or lineal descendants sister-in-law, including adoptive relationships, or any person sharing the Optionee’s household ("Immediate other than a tenant or employee) (“Family Members"”), (ii) a trust or trusts for in which Optionee and/or Optionee’s Family Members have more than 50% of the exclusive benefit of such Optionee and his Immediate Family Membersbeneficial interest, or (iii) a partnership or partnership, limited liability company or other entity in which such Optionee and his Immediate and/or Optionee’s Family Members are own more than 50% of the only partners or membersvoting interests in exchange for an interest in the entity; provided, as applicable; provided that (a) any such transfer must be without any consideration to Optionee for such transfertransfer (other than interests in such partnership, limited liability company or other entity), and (b) all subsequent transfers of any rights under this Agreement shall be prohibited other than by bequest or the laws of descent and distribution. Following any such transfer, this Agreement shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided provided, that for purposes of this Agreement and the Plan (excluding Section 6 hereofof this Agreement) the term "“Optionee" ” shall be deemed to refer to the transferee. Any rights to exercise the Option transferred hereunder shall be exercisable by the transferee only to the extent, and for the periods, specified in this Agreement.