Transferability of this Option Sample Clauses

Transferability of this Option. (a) Except in the case of death or permanent disability of the Grantee, this Option shall not be transferable.
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Transferability of this Option. This Option may not be assigned, encumbered, or transferred except, (i) in the event of the death of the Optionee, by will or the laws of descent and distribution to the extent provided in Section 5 below, (ii) pursuant to a Qualified Domestic Relations Order or (iii) by the Optionee, by gift to any member of the Optionee's "immediate family" (as such term is defined in the Plan as in effect on the date of the grant of this Option) or to a trust for the benefit of one or more of such immediate family members. This Option is exercisable during the Optionee's lifetime only by the Optionee unless this Option is transferred as permitted by this Section 4. In the event this Option is transferred as permitted by this Section 4, the person to whom this Option has been transferred (a "Transferee") may exercise this Option to the extent this Option would have been exercisable by the Optionee if the Option were not so transferred. The provisions of this Option shall be binding upon, inure to the benefit of and be enforceable by the parties hereto, the successors and assigns of the Company and any Transferee.
Sample 1
Transferability of this Option. You may transfer either this Option or any Shares acquired pursuant to this Option prior to the vesting of such Shares only: (a) by will or the laws of descent and distribution or (b) to (i) your spouse, children or grandchildren (“Immediate Family Members”), (ii) a trust or trusts for the exclusive benefit of you or such Immediate Family Members (or both), (iii) a partnership in which you or such Immediate Family Members (or both) are the only partners or (iv) a corporation wholly owned by you or such Immediate Family Members (or both), provided that (x) the transfer does not result in accelerated federal income tax, (y) you do not receive any consideration and (z) the transferred Option (or Shares, as applicable) continues to be subject to the same terms and conditions as it was immediately before the transfer, provided that the provisions of this Option Agreement shall be deemed to apply to the transferee where the context so requires. The events of Termination of Service set forth in Section 2 of this Option Agreement shall continue to be applied to you, and, following such a termination, the transferred Option shall be exercisable (and the Shares shall be forfeited) only to the extent and for the periods specified in such Section 2. This Option is exercisable only during your lifetime and only by you or your transferee, or after your death, only as set forth in this Option Agreement.
Sample 1
Transferability of this Option. This Option may be assigned, encumbered, or transferred. The provisions of this Option shall be binding upon, inure to the benefit of and be enforceable by the parties hereto, the successors and assigns of the Corporation and any person to whom this Option is transferred.
Sample 1
Transferability of this Option. Except as the Board may from time to time otherwise determine or provide, this Option shall not be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the life of the Participant, shall be exercisable only by the Participant. References to the Participant, to the extent relevant in the context, shall include references to authorized transferees.
Sample 1
Transferability of this Option. This Option may not be assigned, encumbered or transferred except as provided in the Plan. Except as provided herein, this Option is exercisable during the Optionee’s lifetime only by the Optionee. The provisions of this Option shall be binding upon, inure to the benefit of and be enforceable by the parties hereto, the successors and assigns of the Corporation and any permitted assignee, or successor to, Optionee.
Sample 1
Transferability of this Option. This Option may not be assigned, encumbered, or transferred except: (i) in the event of the death of the Optionee, by will or the laws of descent and distribution to the extent provided in Section 5 below; (ii) pursuant to a “domestic relations order,” as defined in Section 414(p)(1)(B) of the Code; or (iii) by gift to any member of the Optionee’s immediate family (as defined in Section 9 of the Plan) or to a trust for the benefit of one or more of such immediate family members. This Option is exercisable during the Optionee’s lifetime only by the Optionee or by a person acting with legal authority of the Optionee unless it has been transferred as permitted hereby, in which case it shall be exercisable only by such transferee. The provisions of this Option shall be binding upon, inure to the benefit of and be enforceable by the parties hereto, the successors and assigns of the Corporation and any person acting with legal authority of the Optionee or to whom this Option is transferred.
Sample 1
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Related to Transferability of this Option

  • Transferability of Option The Option shall not be transferable except by will or the laws of descent and distribution, and any attempt to do so shall void the Option.

  • Transferability of the Warrant Subject to the provisions of this Warrant with respect to compliance with the Securities Act of 1933, as amended (the “Securities Act”) and limitations on assignments and transfers, including without limitation compliance with the restrictions on transfer set forth in Section 5, title to this Warrant may be transferred by endorsement (by the transferor and the transferee executing the assignment form attached as Exhibit B (the “Assignment Form”)) and delivery in the same manner as a negotiable instrument transferable by endorsement and delivery.

  • Transferability of Options During the lifetime of an Optionee, only such Optionee (or, in the event of legal incapacity or incompetency, the Optionee’s guardian or legal representative) may exercise the Option. No Option shall be assignable or transferable by the Optionee to whom it is granted, other than by will or the laws of descent and distribution.

  • Nontransferability of Option This option may not be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the lifetime of the Participant, this option shall be exercisable only by the Participant.

  • Nontransferability of the Award Prior to the issuance of shares of Stock on the applicable Settlement Date, neither this Award nor any Units subject to this Award shall be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer by will or by the laws of descent and distribution. All rights with respect to the Award shall be exercisable during the Participant’s lifetime only by the Participant or the Participant’s guardian or legal representative.

  • Non-Transferability of Option This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Optionee only by Optionee. The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

  • NONTRANSFERABILITY OF THE OPTION The Option may be exercised during the lifetime of the Optionee only by the Optionee or the Optionee's guardian or legal representative and may not be assigned or transferred in any manner except by will or by the laws of descent and distribution. Following the death of the Optionee, the Option, to the extent provided in Section 7, may be exercised by the Optionee's legal representative or by any person empowered to do so under the deceased Optionee's will or under the then applicable laws of descent and distribution.

  • Nontransferability of Options The Option and this Agreement shall not be assignable or transferable by Optionee other than by will or by the laws of descent and distribution. During Optionee's lifetime, the Option and all rights of Optionee under this Agreement may be exercised only by Optionee (or by his guardian or legal representative). If the Option is exercised after Optionee's death, the Committee may require evidence reasonably satisfactory to it of the appointment and qualification of Optionee's personal representatives and their authority and of the right of any heir or distributee to exercise the Option.

  • Non-Transferability of the Option The Option may be exercised during the lifetime of the Optionee only by the Optionee and may not be assigned or transferred in any manner except by will or by the laws of descent and distribution.

  • Non-Transferability of Options The Option may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Optionee, only by the Optionee.

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