Transferability of Options. During the lifetime of the Grantee, only the Grantee or a Family Member who received all or part of the Option, not for value, (or, in the event of legal incapacity or incompetence, the Grantee’s guardian or legal representative) may exercise the Option. The Option shall not be assignable or transferable by the Grantee other than to a Family Member, not for value, or by will or the laws of descent and distribution.
Appears in 19 contracts
Samples: Performance Based Option Grant Agreement (Under Armour, Inc.), Option Grant Agreement (Under Armour, Inc.), Time Based Option Grant Agreement (Under Armour, Inc.)
