Restrictions on Transferability of Options. This Option may not be transferred by the Optionee other than by will or the laws of descent and distribution and may be exercised during the Optionee's lifetime only by the Optionee or the Optionee's guardian or legal representative. A transfer of an Option by will or the laws of descent and distribution shall not be effective unless the Option Committee shall have been furnished with such evidence as it may deem necessary to establish the validity and effectiveness of the transfer.
Appears in 14 contracts
Samples: Stock Option Agreement (Goldfields International Inc), Stock Option Agreement (Homeland Precious Metals Corp.), Stock Option Agreement (Exus Networks Inc)
Restrictions on Transferability of Options. This Option may not be transferred by the Optionee other than by will or the laws of descent and distribution and may be exercised during the Optionee's ’s lifetime only by the Optionee or the Optionee's ’s guardian or legal representative. A transfer of an Option by will or the laws of descent and distribution shall not be effective unless the Option Committee Board of Directors of the Corporation shall have been furnished with such evidence as it may deem necessary to establish the validity and effectiveness of the transfer.
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Samples: Stock Option Agreement (mBeach Software, Inc.), Stock Option Agreement (mBeach Software, Inc.)
Restrictions on Transferability of Options. This Option may not be transferred by the Optionee other than by will or the laws of descent and distribution and may be exercised during the Optionee's ’s lifetime only by the Optionee or the Optionee's ’s guardian or legal representative. A transfer of an Option by will or the laws of descent and distribution shall not be effective unless the Option Committee shall have been furnished with such evidence as it may deem necessary to establish the validity and effectiveness of the transfer.
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Restrictions on Transferability of Options. This Option may not be transferred by the Optionee other than by will or the laws of descent and distribution and may be exercised during the Optionee's lifetime only by the Optionee or the Optionee's guardian or legal representative. A transfer of an Option by will or the laws of descent and distribution shall not be effective unless the Option Committee shall have been furnished with such evidence as it may deem necessary to establish the validity and effectiveness of the transfer. Any attempted transfer of the Options made in violation of this Agreement shall be null and void and of no force or effect.
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