Nonassignability of Option. This Option shall not be assignable or transferable by the Optionee except by will or by the laws of descent and distribution. During the life of the Optionee, this Option shall be exercisable only by him, by a conservator or guardian duly appointed for him by reason of his incapacity or by the person appointed by the Optionee in a durable power of attorney acceptable to the Company’s counsel.
Nonassignability of Option. The Option shall not be assignable or transferable by the Optionee except by will or by the laws of descent and distribution. Any distributee by will or by the laws of descent and distribution shall be bound by the provisions of the Plan and this Agreement. During the life of the Optionee, the Option shall be exercisable only by the Optionee. Any attempt to assign, pledge, transfer, hypothecate or otherwise dispose of the Option, and any levy of execution, attachment or similar process on the Option, shall be null and void.
Nonassignability of Option. The Option is not assignable or transferable by the Awardee except by will or by the laws of descent and distribution. During the lifetime of the Awardee, only the Awardee or Awardee’s guardian or legal representative shall be entitled to exercise the Option.
Nonassignability of Option. This Option may not be assigned, pledged or transferred by the Holder other than by will or by the laws of descent and distribution, and during the Holder's lifetime, such this Option may be exercised only by the Holder. Any attempt to assign, pledge, transfer, hypothecate or otherwise dispose of this Option and any levy of execution, attachment, or similar process on this Option, shall be null and void.
Nonassignability of Option. This Option is not assignable or transferable by Holder except in accordance with Section 13 of the Plan. Any attempt to assign, pledge, transfer, hypothecate or otherwise dispose of this Option in a manner not herein permitted, and any levy of execution, attachment, or similar process on this Option, shall be null and void.
Nonassignability of Option. The Option shall not be assignable or transferrable by the Optionee except by will or by the laws of descent and distribution in accordance with Sections 4(b). Any distributee by will or by the laws of descent and distribution
Nonassignability of Option. Except as provided in the following sentence, neither the Option nor any of the Optionee’s rights and interests under the Plan or this Agreement may be assigned or transferred by the Optionee in whole or in part either directly or by operation of law or otherwise (except by will or the laws of descent and distribution in the event of the Optionee’s death); and neither the Option nor any of the Optionee’s rights and interests under the Plan or this Agreement may be pledged, encumbered, or otherwise subjected to any obligation or liability of the Optionee. After giving at least thirty (30) days’ prior written notice to the Secretary of the Company, the Optionee may assign the Option in whole or in part to a Family Member or a Family Entity at any time prior to the expiration, termination, or cancellation of the Option, subject to all of the terms and conditions of the Plan and this Agreement; provided, that any such assignment shall be in writing, and the Optionee promptly shall deliver a copy of any such assignment to the Secretary of the Company. A Family Member or a Family Entity to whom the Option has been assigned pursuant to the preceding sentence also shall be subject to the restrictions, limitations, and requirements contained in the first two sentences of this Paragraph 8. For purposes of this Paragraph 8, “Family Member” means only (i) the Optionee, (ii) a spouse, parent, child or more remote descendant, brother, sister, niece, or nephew of the Optionee, and (iii) a spouse of a brother, sister, child, or more remote descendant of the Optionee. For purposes of this Paragraph 8, “Family Entity” means only (i) a corporation, partnership, or limited liability company all of whose equity interests are owned by Family Members or other Family Entities and (ii) a trust or custodianship for the exclusive benefit of one or more Family Members (other than non-Family Member contingent beneficiaries whose rights arise only if no Family Member beneficiary is living). Subject to the third and fourth sentences of Paragraph 2, the exercisability of the Option by a Family Member or a Family Entity to whom the Option has been assigned pursuant to this Paragraph 8 shall be determined by reference to the Optionee’s membership on the Board as provided in Paragraphs 2, 4, 5, and 6. The Board shall have exclusive authority to determine whether an assignment or transfer of the Option is permitted by this Paragraph 8, and the decision of the Board with respect to such matte...
Nonassignability of Option. Except as set forth below, the Option and the rights and privileges conferred hereby are not transferable or assignable, and shall not be pledged or hypothecated in any way (whether by operation of law or otherwise), and shall not be subject to execution, attachment, garnishment, levy or similar process. The Option may be exercised during the lifetime of Optionee, only by him or, in the event of disability or death, by the duly appointed legal representative of Optionee or by his estate or transferees by will or under the laws of descent and distribution.
Nonassignability of Option. This Agreement may not be assigned or transferred by Employee otherwise than by will or the laws of descent and distribution.
Nonassignability of Option. Except as otherwise provided in this Section 6, this Option shall not be assignable or transferable by the Optionee except by will or by the laws of descent and distribution. Except as otherwise provided in this Section 6, during the life of the Optionee, this Option shall be exercisable only by him, by a conservator or guardian duly appointed for him by reason of his incapacity or by the person appointed by the Optionee in a durable power of attorney acceptable to the Company’s counsel. In addition to the foregoing, the Optionee may transfer this Option to a member of the Immediate Family (as hereinafter defined) of the Optionee, to a trust solely for the benefit of the Optionee and the Optionee’s Immediate Family or to a partnership or limited liability company whose only partners or members are the Optionee and members of the Optionee’s Immediate Family. For purposes of this Section 6, “Immediate Family” shall mean, with respect to any Optionee, the Optionee’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, and shall include adoptive relationships.
