Transfers Upon Death. Upon the death of the Optionee, any Issued Shares of Stock then held by the Optionee at the time of such death and any Issued Shares of Stock acquired thereafter by the Optionee’s legal representative pursuant to this Agreement shall be subject to the provisions of Sections 8, 9, 10, 11 and 12, if applicable, and the Optionee’s estate, executors, administrators, personal representatives, heirs, legatees and distributees shall be obligated to convey such Issued Shares of Stock to the Company or its assigns under the terms contemplated hereby.
Transfers Upon Death. Upon the death of the Grantee, all Shares shall be subject to the Repurchase and all Vested Shares shall be and remain subject to Section 4(c), if applicable, and the Grantee’s estate, executors, administrators, personal representatives, heirs, legatees and distributees shall be obligated to convey such Shares to the Company or its assigns under the terms contemplated hereby.
Transfers Upon Death. Upon the death of the Grantee or any -------------------- Permitted Transferee the Shares may be transferred by operation of law to the estate, legal representatives, executors and administrators of the Grantee or any such Permitted Transferee. Any Shares which are Restricted Shares at the time at such death shall be subject to the Repurchase and all other Shares shall be and remain subject to Section 4(d), if applicable, and the Grantee's and any Permitted Transferee's estate, executors, administrators, personal representatives, heirs, legatees and distributees shall be obligated to convey such Shares to the Company or its assigns if and to the extent contemplated hereby.
Transfers Upon Death. The Award Shares may be transferred by Holder to a transferee by bequest or by operation of the laws of descent and distribution upon the death of Holder upon the condition that the transferee thereof execute and deliver to the Company such documents and agreements as the Company shall require to evidence the fact that the Award Shares to be owned, either directly or beneficially, by such transferee shall continue to be subject to all the restrictions set forth in this Agreement and all applicable rights in favor of the Company set forth herein, and that such transferee is subject to and bound by such restrictions and provisions.
Transfers Upon Death. Upon the death of the Option Holder, the Converted Option may be exercised only by the executors or administrators of Option Holder's estate or by any person or persons who shall have acquired such right to exercise by will or by the laws of descent and distribution. No transfer by will or the laws of descent and distribution shall be effective to bind the Corporation unless the Corporation shall have been furnished with (a) written notice thereof and with a copy of the will and/or such evidence as the Corporation may deem necessary to establish the validity of the transfer 6 and (b) an agreement by the transferee to comply with all the terms and conditions of the Converted Option that are or would have been applicable to the Option Holder and to be bound by the acknowledgments made by the Option Holder in connection with the grant of the Converted Option. Except as provided in this section 7, the Converted Option shall not be transferable and may only be exercised during the Option Holder's lifetime by the Option Holder.
Transfers Upon Death. No transfer by will or the laws of descent and distribution of the Incentive Award granted hereunder, or the right to exercise such Incentive Award, shall be effective to bind the Company unless the Committee shall have been furnished with (a) written notice thereof and with a copy of the will and/or such evidence as the Committee may deem necessary to establish the validity of the transfer and (b) an agreement by the transferee to comply with all the terms and conditions of the Incentive Award that are or would have been applicable to the Participant and to be bound by the acknowledgements made by the Participant in connection with the grant of the Incentive Award.
Transfers Upon Death. Upon the death of the Grantee, the Vested Shares held by the Grantee may be transferred and distributed by will or other instrument taking effect at his death or by the laws of descent and distribution to the Grantee's estate, executors, administrators and personal representatives, and then to such holder's heirs, legatees or distributees whether or not such heirs, legatees or distributees are Permitted Transferees. No transfer permitted hereby shall be effective unless the transferee to whom the Shares are proposed to be transferred pursuant to this provision has delivered to the Company a written acknowledgment that the Shares to be received by it are subject to the provisions of this Agreement (including without limitation, the provisions of this SECTION 4) and that such transferee is bound hereby and thereby.
Transfers Upon Death. Upon the death of the Owner, or, if there is more than one Owner, the last surviving Owner, the Owner's executor(s) or administrator(s) shall, on or before the first business day occurring ninety (90) days after said Owner's death, cause the Monitoring Agent to receive written notice of the date of the Owner's death, of whether or not said Owner died intestate, and of the identity, address and relationship of all known heirs and devisees. In the event that a will is admitted for probate by a Court of competent jurisdiction, a copy of such will and all allowed codicils thereto shall be provided to the Monitoring Agent. Upon receipt of such notice, the Monitoring Agent shall consent (which consent must be recorded in the Dukes County Registry of Deeds) to a transfer of the Premises to the spouse of the Owner, or the child or children of the Owner, provided that the spouse or child/children demonstrate to the Monitoring Agent that: (i) the Premises is the principal residence of such spouse or child/children, or shall be upon said Owner’s death, (ii) the spouse or child/children is an Eligible Purchaser, and (iii) the Premises is the only real property currently owned by the spouse or child/children. The resale and transfer procedures and restrictions of Sections 3 and 4 above, and all other provisions of this Covenant, shall apply to any sale, transfer or other disposition of the Premises to any individual other than the Owner’s spouse or child/children, as permitted above, and shall apply to any sale, transfer or other disposition of the Premises from the Owner’s spouse or child/children. Said spouse or child/children (“Second Generation Owner”) must sign a new covenant at the time of transfer to said Second Generation Owner, which new covenant shall provide a similar Transfer Upon Death Clause so that the Premises may pass down to the spouse or child/children of the Second Generation Owner upon death and so on through the generations, provided that all other terms of this paragraph are met, including but not limited to the requirement that the Premises is the principal residence of such spouse or child/children.
Transfers Upon Death. The Award Shares shall be transferred on death of the Holder by bequest or by operation of the laws of descent and distribution. Transfer may also be made in accordance with arrangements the Committee may establish from time to time with the third-party administrator of the Plan, if any, for account designation of beneficiaries.
Transfers Upon Death. Upon the death of LKS, SSC or a Permitted Holder, any Transfer of Voting Stock, whether testamentary or by the laws of descent and distribution, to a party other than Trust 2 Trustee or a Permitted Transferee shall be subject to the right of first refusals contained in Section 1 and in Section 2. The price per share for such Voting Stock shall be the Appraised Value. The notice requirements and closing periods described in Sections 1(a), 1(b), 1(c) and 2(a), 2(b), 2(c) hereof shall begin upon the date that the applicable will is probated, or in the case of intestacy, upon a final order by the probate court regarding the distribution of the assets of the decedent's estate.
