Non-Transferability of Shares. 10.1 Except as provided in Section 10.2, no Shares may be sold, transferred, assigned, pledged, or encumbered at any time until the first to occur of (i) the Public Offering Date, (ii) two years after the date the Shares were issued upon exercise of the Option, or (iii) the sale of all or substantially all of the Common Stock or assets of the Company to a person who is not an affiliate of the Company.
Non-Transferability of Shares. Prior to the date on which any Aggregate Restricted Shares Vest pursuant to Section 5 hereof, such Aggregate Restricted Shares may not be sold, transferred, assigned, pledged, hypothecated, encumbered or otherwise disposed of (whether by operation of law or otherwise) or be subject to execution, attachment or similar process. Any such attempted sale, transfer, assignment, pledge, hypothecation or encumbrance, or other disposition of such Aggregate Restricted Shares shall be null and void.
Non-Transferability of Shares. The transfer of the Shares to be issued upon exercise of the Options is limited as set forth in the Plan and in Section 6 below.
Non-Transferability of Shares. The Employee may not sell, transfer or otherwise alienate or hypothecate any of the Restricted Shares until they are vested.
Non-Transferability of Shares. The Participant may not sell, transfer or otherwise alienate or hypothecate any of the Restricted Shares until they are vested.
Non-Transferability of Shares. The Optionee, by acceptance hereof, hereby represents, warrants and agrees that, upon exercise of this Option, unless the Shares are then covered by an effective registration statement under the SECURITIES ACT OF 1933, as amended (the "Act"):
Non-Transferability of Shares. Until the expiration of the Repurchase Option, the Shares may not be transferred in any manner otherwise than by will or by the laws of descent or distribution, subject to Section 22(a) of the Plan. Following the expiration of the Repurchase Option, the Shares may be transferred as permitted by the Company, subject to compliance with (i) Section 4 of Part II of the Option Agreement and (ii) Applicable Laws (as defined in the Plan).
Non-Transferability of Shares. Until the first sale of Shares to the general public pursuant to a registration statement filed with and declared effective by the U.S. Securities and Exchange Commission under the Securities Act, the Shares may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descendent or distribution to Optionee’s Immediate Family or a trust for the benefit of the Optionee’s Immediate Family. Such transferee or other recipient shall receive and hold the Shares so transferred subject to the provisions of this Section, and there shall be no further transfer of such Shares except in accordance with the terms of this Section.
Non-Transferability of Shares. 3.1. That portion of the Shares specified in the Notice of Issuance as being subject to forfeiture or any right or interest therein or part thereof shall not be permitted to be used to satisfy or otherwise discharge the debts, contracts or engagements of the Participant or his successors in interest and shall not be subject to disposition by transfer, alienation, anticipation, pledge, hypothecation, encumbrance, assignment or any other means, whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided however, that this Section 3 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Non-Transferability of Shares. The unvested Shares may not be sold, transferred, assigned, conveyed, pledged, hypothecated, mortgaged, encumbered or otherwise disposed of (whether by operation of law or otherwise). Any assignment, transfer, pledge, hypothecation or other disposition of the unvested Shares attempted contrary to the provisions of this Agreement, or any levy of execution, attachment or other process attempted upon the unvested Shares, will be null and void and without effect. Any attempt to make any such assignment, transfer, pledge, hypothecation or other disposition of the unvested Shares or any attempt to make any such levy of execution, attachment or other process will cause the Director to immediately forfeit the unvested Shares and the unvested Shares shall immediately revert back to the Corporation upon the happening of any such event if the Administrator should, at any time, in its sole discretion, so elect by written notice to the Director; provided, however, that any such forfeiture and reversion under the foregoing provisions of this Section 5 will not prejudice any rights or remedies which the Corporation or any Subsidiary may have under this Agreement or otherwise.
