Common use of RESTRICTIONS UPON TRANSFER Clause in Contracts

RESTRICTIONS UPON TRANSFER. (a) Neither the Optionee nor any other person or entity shall have any interest in any specific asset or assets or stock of the Company by reason of the granting of the Options. Any attempt to assign or to transfer this Agreement or the Options granted hereunder, whether voluntarily or involuntarily, by operation of law or otherwise, shall be of no further force or effect and no interest or right hereunder shall vest in any other person. Nothing in this Agreement shall be deemed to limit Optionee's right to transfer this Agreement or the Option Shares by will or in accordance with the laws of devise, descent and distribution.