Common use of Non-Transferability of Options Clause in Contracts

Non-Transferability of Options. The Options may be exercised only by the Grantee or, following his death, by the Grantee’s estate. The Options are not assignable or transferable, in whole or in part, and may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including without limitation by gift, operation of law or otherwise) other than by will or by the laws of descent and distribution to the estate of the Grantee upon the Grantee’s death, provided that the deceased Grantee’s beneficiary or the representative of the Grantee’s estate shall acknowledge and agree in writing, in a form reasonably acceptable to the Company, to be bound by the provisions of this Agreement and the Plan as if such beneficiary or the estate were the Grantee.

Non-Transferability of Options. The Except as provided in the Plan, the Options may be exercised only by the Grantee or, following his death, by the Grantee’s 's estate. The Except as provided in the Plan, the Options are not assignable or transferable, in whole or in part, and may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including including, without limitation limitation, by gift, operation of law or otherwise) other than by will or by the laws of descent and distribution to the estate of the Grantee upon the Grantee’s 's death, provided that the deceased Grantee’s 's beneficiary or the representative of the Grantee’s 's estate shall acknowledge and agree in writing, in a form reasonably acceptable to the Company, to be bound by the provisions of this Agreement and the Plan as if such beneficiary or the estate were the Grantee.

Non-Transferability of Options. The Options may be exercised only by the Grantee or, following his death, by the Grantee’s 's estate. The Options are not assignable or transferable, in whole or in part, and may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including without limitation by gift, operation of law or otherwise) other than by will or by the laws of descent and distribution to the estate of the Grantee upon the Grantee’s 's death, provided that the deceased Grantee’s 's beneficiary or the representative of the Grantee’s 's estate shall acknowledge and agree in writing, in a form reasonably acceptable to the Company, to be bound by the provisions of this Agreement and the Plan as if such beneficiary or the estate were the Grantee.

Non-Transferability of Options. The Options may be exercised only by the Grantee or, following his death, or by the Grantee’s estate. The Options are not assignable or transferable, in whole or in part, and they may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including without limitation by gift, operation of law or otherwise) other than by will or by the laws of descent and distribution to the estate of the Grantee upon the Grantee’s death, provided that the deceased Grantee’s beneficiary or the representative of the Grantee’s estate shall acknowledge and agree in writing, in a form reasonably acceptable to the Company, to be bound by the provisions of this Management Stock Option Agreement and the Plan as if such beneficiary or the estate were the Grantee.

Non-Transferability of Options. The Except as contemplated by Section 4(c), the Options may be exercised only by the Grantee or, following his death, or by the Grantee’s 's estate. The Except as contemplated by Section 4(c), the Options are not assignable or transferable, in whole or in part, and they may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including without limitation by gift, operation of law or otherwise) other than by will or by the laws of descent and distribution to the estate of the Grantee upon the Grantee’s 's death, provided that the deceased Grantee’s 's beneficiary or the representative of the Grantee’s 's estate shall acknowledge and agree in writing, in a form reasonably acceptable to the CompanyHolding, to be bound by the provisions of this Agreement and the Plan as if such beneficiary or the estate were the Grantee.

Non-Transferability of Options. The Except as contemplated by Section 5(c), the Options may be exercised only by the Grantee or, following his death, or by the Grantee’s estate. The Options are Except as contemplated by Section 5(c), the Option is not assignable or transferable, in whole or in part, and it may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including without limitation by gift, operation of law or otherwise) other than by will or by the laws of descent and distribution to the estate of the Grantee upon the Grantee’s death, provided that the deceased Grantee’s beneficiary or the representative of the Grantee’s estate shall acknowledge and agree in writing, in a form reasonably acceptable to the Company, to be bound by the provisions of this Agreement and the Plan as if such beneficiary or the estate were the Grantee.

Non-Transferability of Options. The Options may be exercised only ------------------------------ by the Grantee or, following his death, or by the Grantee’s 's estate. The Options are not assignable or transferable, in whole or in part, and they may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including without limitation by gift, operation of law or otherwise) other than by will or by the laws of descent and distribution to the estate of the Grantee upon the Grantee’s 's death, provided -------- that the deceased Grantee’s 's beneficiary or the representative of the Grantee’s 's estate shall acknowledge and agree in writing, in a form reasonably acceptable to the CompanyHolding, to be bound by the provisions of this Agreement and the Plan as if such beneficiary or the estate were the Grantee.

Non-Transferability of Options. The Options may be exercised only by the Grantee or, following his death, or by the Grantee’s 's estate. The Options are Option is not assignable or transferable, in whole or in part, and it may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including without limitation by gift, operation of law or otherwise) other than by will or by the laws of descent and distribution to the estate of the Grantee upon the Grantee’s 's death, provided that the deceased Grantee’s 's beneficiary or the representative of the Grantee’s 's estate shall acknowledge and agree in writing, in a form reasonably acceptable to the Company, to be bound by the provisions pro visions of this Agreement and the Plan as if such beneficiary or the estate were the Grantee."

Non-Transferability of Options. The Options may be exercised only by the Grantee or, following his death, or by the Grantee’s 's estate. The Options , are not assignable or transferable, in whole or in part, part and they may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including without limitation by gift, operation of law or otherwise) other than by will or by the laws of descent and distribution to the estate of the Grantee upon the Grantee’s 's death, ; provided that the deceased Grantee’s 's beneficiary or the representative of the Grantee’s 's estate shall acknowledge and agree in writing, in a form reasonably acceptable to the CompanyHolding, to be bound by the provisions of this Agreement and the Plan as if such beneficiary or the estate were the Grantee.

Non-Transferability of Options. The Options may be exercised only by the Grantee or, following his death, or by the Grantee’s 's estate. The Options , are not assignable or transferable, in whole or in part, part and may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including without limitation by gift, operation of law or otherwise) other than by will or by the laws of descent and distribution to the estate of the Grantee upon the Grantee’s 's death, ; provided that the deceased Grantee’s 's beneficiary or the representative of the Grantee’s 's estate shall acknowledge and agree in writing, in a form reasonably acceptable to the CompanyHolding, to be bound by the provisions of this Agreement and the Plan as if such beneficiary or the estate were the Grantee.

Non-Transferability of Options. The Options may be exercised only by the Grantee or, following his death, or by the Grantee’s 's estate. The Options are not assignable or transferable, in whole or in part, and they may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including without limitation by gift, operation of law or otherwise) other than by will or by the laws of descent and distribution to the estate of the Grantee upon the Grantee’s 's death, provided that the deceased Grantee’s 's beneficiary or the representative of the Grantee’s 's estate shall acknowledge and agree in writing, in a form reasonably acceptable to the CompanyHolding, to be bound by the provisions of this Agreement and the Plan as if such beneficiary or the estate were the Grantee.

Non-Transferability of Options. The Except as provided in the Plan, the Options may be exercised only by the Grantee or, following his death, by the Grantee’s 's estate. The Except as provided in the Plan, the Options are not assignable or transferable, in whole or in part, and may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated hypothecated, or otherwise disposed of or encumbered (including including, without limitation limitation, by gift, operation of law law, or otherwise) other than by will or by the laws of descent and distribution to the estate of the Grantee upon the Grantee’s 's death, provided that the deceased Grantee’s 's beneficiary or the representative of the Grantee’s 's estate shall acknowledge and agree in writing, in a form reasonably acceptable to the Company, to be bound by the provisions of this Agreement and the Plan as if such beneficiary or the estate were the Grantee.