Common use of Rights Prior to Exercise of Option Clause in Contracts

Rights Prior to Exercise of Option. The Option hereby granted is non-transferable by Employee except as otherwise provided in Paragraph 5 hereof. During the lifetime of Employee, the Options hereby granted shall be exercisable only by the Employee. Employee shall have no rights as a shareholder in the shares of Stock purchasable pursuant to Options hereunder until payment of the purchase price and delivery.

Rights Prior to Exercise of Option. The This Option hereby granted is non-not transferable by Employee Employee, except by will or by the laws of descent and distribution or as otherwise provided set forth in Paragraph 5 hereof. During the Plan, and during Employee’s lifetime of Employee, the Options hereby granted shall be exercisable only by the Employee. Employee This option shall have confer no rights to the holder hereof to act as a shareholder in stockholder with respect to any of the shares of Stock purchasable pursuant to Options hereunder Option Shares until payment of the purchase option price and deliverydelivery of a share certificate has been made.

Rights Prior to Exercise of Option. The Option hereby granted This option is non-transferable by Employee except in the event of his death as otherwise provided in Paragraph 5 hereof. During the 4 (d) above, and during his lifetime of Employee, the Options hereby granted shall be is exercisable only by the Employeehim. Employee shall have no rights as a shareholder in stockholder with respect to the optioned shares of Stock purchasable pursuant to Options hereunder until payment of the purchase option price and deliverydelivery to him of such shares as herein provided.

Rights Prior to Exercise of Option. The This Option hereby granted is non-transferable not transferrable by Employee Employee, except by will or by the laws of descent and distribution or as otherwise provided set forth in Paragraph 5 hereof. During the Plan, and during Employee’s lifetime of Employee, the Options hereby granted shall be exercisable only by the Employee. Employee This option shall have confer no rights to the holder hereof to act as a shareholder in stockholder with respect to any of the shares of Stock purchasable pursuant to Options hereunder Option Shares until payment of the purchase option price and deliverydelivery of a share certificate has been made.

Rights Prior to Exercise of Option. The This Option hereby granted is non-not transferable by Employee Employee, except by will or by the laws of descent and distribution or as otherwise provided set forth in Paragraph 5 hereof. During the Plan, and during Employee’s lifetime of Employee, the Options hereby granted shall be exercisable only by the Employee. Employee This Option shall have confer no rights to the holder hereof to act as a shareholder in stockholder with respect to any of the shares of Stock purchasable pursuant to Options hereunder Option Shares until payment of the purchase option price and deliverydelivery of a share certificate has been made.

Rights Prior to Exercise of Option. The This Option hereby granted is non-transferable not transferrable by Employee Employee, except by will or by the laws of descent and distribution or as otherwise provided set forth in Paragraph 5 hereof. During the Plan, and during Employee's lifetime of Employee, the Options hereby granted shall be exercisable only by the Employee. Employee This option shall have confer no rights to the holder hereof to act as a shareholder in stockholder with respect to any of the shares of Stock purchasable pursuant to Options hereunder Option Shares until payment of the purchase option price and deliverydelivery of a share certificate has been made.

Rights Prior to Exercise of Option. The Option hereby granted option is non-transferable nontransferable by Employee the Employee, except as herein otherwise provided in Paragraph 5 paragraph 4 (a) hereof. During the , and during his lifetime of Employee, the Options hereby granted shall be is exercisable only by him, and the Employee. Employee shall have no rights as a shareholder in the option shares of Stock purchasable pursuant to Options hereunder until payment of the purchase option price and deliverydelivery to him of such shares as herein provided.

Rights Prior to Exercise of Option. The Option hereby granted This option is non-not transferable by Employee Employee, except by will or by the laws of descent and distribution or as otherwise provided set forth in Paragraph 5 hereof. During the Plan, and during Employee's lifetime of Employee, the Options hereby granted shall be exercisable only by the Employee. Employee This option shall have confer no rights to the holder hereof to act as a shareholder in stockholder with respect to any of the shares of Stock purchasable pursuant to Options hereunder Option Shares until payment of the purchase option price and deliverydelivery of a share certificate has been made.

Rights Prior to Exercise of Option. The Option hereby granted is non-transferable nontransferable by Employee except as herein otherwise provided in Paragraph 5 paragraph 5(a) hereof. During the , and during his lifetime of Employee, the Options hereby granted shall be is exercisable only by the Employee. him, and Employee shall have no rights as a shareholder in the shares of Stock purchasable pursuant to Options hereunder Option Shares until payment of the purchase price Purchase Price and deliverydelivery to Employee of such Option Shares as herein provided.

Rights Prior to Exercise of Option. The Option hereby granted This option is non-transferable not transferrable by Employee Employee, except by will or by the laws of descent and distribution or as otherwise provided set forth in Paragraph 5 hereof. During the Plan, and during Employee’s lifetime of Employee, the Options hereby granted shall be exercisable only by the Employee. Employee This option shall have confer no rights to the holder hereof to act as a shareholder in stockholder with respect to any of the shares of Stock purchasable pursuant to Options hereunder Option Shares until payment of the purchase option price and deliverydelivery of a share certificate has been made.