Transfer of Options. The Option may not be transferred except by will or the laws of descent and distribution and, during the lifetime of the Optionee, may be exercised only by the Optionee or by the Optionee's legally authorized representative.
Transfer of Options. The Option may not be transferred except (i) by will or the laws of descent and distribution or (ii) pursuant to the terms of a qualified domestic relations order, as defined by the Code or Title I of the Employee Retirement Income Security Act of 1974, as amended, and, during the lifetime of the Optionee, may be exercised only by the Optionee or by the Optionee’s legally authorized representative.
Transfer of Options. Unless the Company, upon advice of its securities counsel, directs otherwise, the Options may not be assigned or transferred in any manner except upon the death of Optionee by will or by the laws of descent and distribution. During the lifetime of Optionee, the Options shall be exercisable only by Optionee.
Transfer of Options. The Options may not be assigned, pledged or transferred in any manner except upon the death of Optionee by will or by the laws of descent and distribution. During the lifetime of Optionee, the Options shall be exercisable only by Optionee.
Transfer of Options. The transfer of these Options is limited as set forth in the Plan.
Transfer of Options. Except as provided in Section 5.1 hereof, ------------------- the registered Holder of an Option Certificate, by its acceptance thereof, agrees that the Options are being acquired as an investment and that the Options may not be assigned, pledged, hypothecated or otherwise transferred except pursuant to an effective registration under the Securities Act of 1933, as amended (the "Act"), and in compliance with applicable state securities laws. In order to make any assignment, the Holder must deliver to the Company the assignment form annexed to the Option Certificate duly executed and completed, together with the Option Certificate and payment of all transfer taxes, if any, payable in connection therewith. The Company shall promptly transfer the Options being assigned on the books of the Company and shall execute and deliver a new Option Certificate or Certificates of like tenor to the appropriate assignee(s) expressly evidencing the right to purchase the number of Shares purchasable under the Option Certificate surrendered or such portion of such number as shall be contemplated by any such assignment.
Transfer of Options. Each of the Stockholders identified on Schedule I hereto as holding options to purchase shares of Common Stock of the Company (each a "Company Option") severally (and not jointly) agrees that so long as this Agreement shall remain in effect, such Stockholder (for purposes of this Section 8, an "Optionholder") will not transfer any Company Options held by such Optionholder; provided, however, that at the Effective Time, (as defined in the Merger Agreement) each Optionholder agrees to accept an amount in respect of such Company Options equal to the product of (A) the excess, if any, of the Offer Price over the per share exercise price of each such Company Option and (B) the number of Shares subject thereto (such payment to be net of applicable withholding taxes) and each such Company Option shall thereafter be canceled.
Transfer of Options. Subject to all applicable securities laws, the Options shall be transferable only on the books of the Company maintained at the office of the Option Agent, upon delivery of this Agreement or a suitable instrument of transfer duly endorsed by the Holder or by its duly authorized attorney or representative accompanied by proper evidence of succession, assignment or authority to transfer. Upon any registration transfer, the Company shall execute and deliver a new copy of this Agreement to the person entitled thereto.
Transfer of Options. This Option is not transferable, except by will or by the applicable laws of descent or distribution.
Transfer of Options. During Holder's lifetime, the Options shall be exercisable only by Holder. The Options shall not be transferable by Holder, other than by the laws of descent and distribution upon Holder's death. In the event of Holder's death during service to the Company, Holder's personal representatives may exercise any portion of the Options that remain unexercised at the time of Holder's death; provided, however, that any such exercise must be made, if at all, during the period within one (1) year after Holder's death, and subject to the option termination date specified in Paragraph 2 of this Agreement. Investment Undertaking
