Restrictions on Transfer of Options. Except as otherwise provided below, the Options may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution; and the Options shall be exercisable during the Executive's lifetime only by him. However, the Options may be transferred to members of the Executive's immediate family or to one or more trusts for the benefit of the Executive and/or his immediate family members or to partnerships in which the Executive and/or his immediate family members are the only partners; provided that the Executive does not receive any consideration for such transfer and the Executive provides to the Company such documentation and/or information concerning any such transfer or transferee as the Committee may reasonably require. Any Options
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Restrictions on Transfer of Options. Except as otherwise provided below, the Options may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution; and the Options shall be exercisable during the Executive's lifetime only by him. However, the Options may be transferred to members of the Executive's immediate family or to one or more trusts for the benefit of the Executive and/or his immediate family members or to partnerships in which the Executive and/or his immediate family members are the only partners; provided that the Executive does not receive any consideration for such transfer and the Executive provides to the Company such documentation and/or information concerning any such transfer or transferee as the Committee may reasonably require. Any OptionsOptions held by transferees permitted under this paragraph 6 shall remain subject to the same terms and conditions that applied immediately prior to such transfer. If without having
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Samples: SPX Corp
