NONTRANSFERABILITY OF THE OPTION Sample Clauses

NONTRANSFERABILITY OF THE OPTION. The Option may be exercised during the lifetime of the Optionee only by the Optionee or the Optionee's guardian or legal representative and may not be assigned or transferred in any manner except by will or by the laws of descent and distribution. Following the death of the Optionee, the Option, to the extent provided in Section 7, may be exercised by the Optionee's legal representative or by any person empowered to do so under the deceased Optionee's will or under the then applicable laws of descent and distribution.
NONTRANSFERABILITY OF THE OPTION. During the lifetime of the Participant, the Option shall be exercisable only by the Participant or the Participant’s guardian or legal representative. The Option shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer by will or by the laws of descent and distribution. Following the death of the Participant, the Option, to the extent provided in Section 7, may be exercised by the Participant’s legal representative or by any person empowered to do so under the deceased Participant’s will or under the then applicable laws of descent and distribution.
NONTRANSFERABILITY OF THE OPTION. The Option shall not be assignable, alienable, saleable or transferable by the Optionee other than by will or the laws of descent and distribution; provided, however, that the Optionee shall be entitled, in the manner provided in Paragraph 9 hereof, to designate a beneficiary to exercise his rights, and to receive any shares of Common Stock issuable, with respect to the Option upon the death of the Optionee. The Option may be exercised during the lifetime of the Optionee only by the Optionee or, if permitted by applicable law, the Optionee's guardian or legal representative.
NONTRANSFERABILITY OF THE OPTION. This Option may not be sold, ledged, assigned, hypothecated, gifted, transferred or disposed of in any manner either voluntarily or involuntarily by operation of law, other than by will or by the laws of descent of distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Subject to the foregoing and the terms of the Plan, the terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.
NONTRANSFERABILITY OF THE OPTION. The entitlements, rights and interests of the Participant in relation to the Option are strictly personal. During the lifetime of the Participant, the Option shall be exercisable only by the Participant or the Participant’s legal representative. The Option shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant except in accordance with, and subject to any requirements or limitations imposed by, the Constitution, the Option Deed Poll, the Investment Terms and applicable law. The Participant will be required, if and to the extent so required by the Company, to accede to the Investment Terms prior, and as a condition, to the issue of any shares of Stock to the Participant.
NONTRANSFERABILITY OF THE OPTION. Except as permitted by the Administrator or as permitted under the Plan, the Participant may not assign or transfer the Option to anyone other than by will or the laws of descent and distribution and the Option shall be exercisable only by the Participant during his or her lifetime. The Company may cancel the Participant’s Option if the Participant attempts to assign or transfer it in a manner inconsistent with this Section 5.
NONTRANSFERABILITY OF THE OPTION. This Option may not be sold, ledged, assigned, hypothecated, gifted, transferred or disposed of in any manner either voluntarily or involuntarily by operation of law, other than by will or by the laws of descent of distribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Subject to the
NONTRANSFERABILITY OF THE OPTION. With the permission of the Committee, the Optionee or a specified group of Optionees, may transfer the Option to a revocable inter vivos trust as to which the Optionee is the settlor or to a Permissible Transferee (as that term is defined in the Plan). Any transferee of the Option shall remain subject to all of the terms and conditions applicable to the Option. The Option may not be retransferred by a Permissible Transferee except by will or by the laws of descent and distribution and then only to another Permissible Transferee. The Option may not otherwise be transferred except by will or by the laws of descent and distribution and during the lifetime of the Optionee, may be exercised only by the Optionee, his guardian or legal representative.
NONTRANSFERABILITY OF THE OPTION. The Option may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. The Option may not be exercised during the lifetime of the Optionee except by the Optionee.
NONTRANSFERABILITY OF THE OPTION. The entitlements, rights and interests of the Participant in relation to the Option are strictly personal. During the lifetime of the Participant, the Option shall be exercisable only by the Participant or the Participant’s legal representative. The Option shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant.