Nontransferability of Awards. Unless the Committee shall permit (on such terms and conditions as it shall establish) Options to be transferred, no Options may be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. Following the Employee’s death, all rights with respect to Options that were exercisable at the time of the Employee’s death and have not terminated shall be exercised by his designated beneficiary, his estate or such transferee as permitted by the Committee.
Appears in 6 contracts
Samples: Employment Agreement (Ws Financing Corp), Employment Agreement (Ws Financing Corp), Stock Option Agreement (Ws Financing Corp)
Nontransferability of Awards. Unless the Committee shall permit (on such terms and conditions as it shall establish) Options to be transferred, no Options may be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. Following the EmployeeGrantee’s death, all rights with respect to Options that were exercisable at the time of the EmployeeGrantee’s death and have not terminated shall may be exercised by his designated beneficiary, his estate or such transferee as permitted by the Committee.
Appears in 4 contracts
Samples: Option Agreement (Magnachip Semiconductor LLC), Option Agreement (Magnachip Semiconductor LLC), Option Agreement (Magnachip Semiconductor LLC)
Nontransferability of Awards. Unless the Committee shall permit (on such terms and conditions as it shall establish) Options to be transferred, no Options may be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. Following the Employee’s 's death, all rights with respect to Options that were exercisable at the time of the Employee’s 's death and have not terminated shall be exercised by his designated beneficiary, his estate or such transferee as permitted by the Committee.
Appears in 3 contracts
Samples: Employment Agreement (Worldspan BBN Holdings LLC), Employment Agreement (Worldspan BBN Holdings LLC), Stock Option Agreement (Worldspan BBN Holdings LLC)
