Not Transferable. The option is not transferrable except that, in the event of the option holder’s death or declaration of incompetency, the option may be exercised by the option holder’s legal representative or estate. If you exercise your right to exchange your Stock Grant shares for the option and cash, please sign below and return this letter and the enclosed Lock up Agreement to the Company. Very truly yours, /s/ Xxxxx Xxx Xxxxx Xxx Chief Executive Officer I hereby accept the Company’s offer to exchange my 1,350,000 Stock Grant shares for an option to purchase 1,430,325 shares of Common Stock at $5.00 per share and a payment $675,000 pursuant to the foregoing offer letter. I represent to the Company that I understand the terms of the exchange and that I have consulted by tax and financial advisors to the extent that I deem necessary. I understand that the Company is making no representation that a Public Stock Event will occur, that the option will become exercisable or, if a Public Stock Event occurs, as to the market price for the Company’s common stock. I hereby irrevocably convey and transfer to the Company my 1,350,000 Stock Grant shares and authorize the Company and its executive officers to take any action necessary to transfer the shares to the Company and to subsequently cancel such shares. I further agree to execute the Lock up Agreement. /s/ Xxxxx Xxx Xxxxx Xxx EXHIBIT A - INSTRUMENT OF NONQUALIFIED STOCK OPTION GRANT [Exchange of Restricted Stock] Instrument of Grant issued as of this th day of March, 2019, from SolarMax Technology, Inc., a Nevada corporation, with offices at 0000 00xx Xxxxxx, Xxxxxxxxx, XX 00000 (the “Company”), to [name of Option Holder], whose address is set forth at the end of this Instrument of Grant (the “Option Holder”).
Not Transferable. Licensee’s dining plan is not transferable. Assisting unauthorized persons to enter the Dining Commons or to use your OtterCard is in violation of the terms and conditions of the License. Unauthorized use of an OtterCard or tampering with or altering the OtterCard is a violation of this License and may warrant confiscation and possible disciplinary action by the University, a fine and possible forfeiture of value expended.
Not Transferable. Your deposit account is not transferable to anyone unless we agree in writing. You may not voluntarily transfer or pledge your account without our consent. This does not affect a transfer occurring by operation of law, such as that which would occur on death, bankruptcy or as a result of a court order.
Not Transferable. Your deposit account is not transferable to anyone, except on our books. You may not voluntarily transfer or pledge your account with- out our consent. This does not affect a transfer occurring by opera- tion of law, such as that which would occur on death, bankruptcy or as a result of a court order.
Not Transferable. The Option is not transferable by the Option Holder, and may be exercised only by the Option Holder except that, in the event of the Option Holder’s death or disability, the Option may be exercised by Option Holder’s legal representative or by the persons to whom the Option is transferred by will or the laws of descent and distribution..
Not Transferable. This Option is not transferable except by will or the laws of descent and distribution.
Not Transferable. (a) No Award under the Plan, or the shares underlying such Award, may be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other than by will or the laws of descent and distribution, unless and until the shares underlying such Award have been issued, and all restrictions applicable to such shares have lapsed. No Award or interest or right therein shall be liable for the debts, contracts or engagements of the Holder or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, 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, except to the extent that such disposition is permitted by the preceding sentence.
Not Transferable. You may not sell, transfer, assign, pledge, or otherwise encumber or dispose of the shares of Restricted Stock. If you transfer or attempt to transfer shares contrary to the terms of this Agreement, Intrepid will have the right to acquire the shares for its own account, without any payment to you or the transferee. In addition to any other legal or equitable remedies it may have, Intrepid may enforce its rights to specific performance to the extent permitted by law and may exercise any other equitable remedies then available. Intrepid may refuse to recognize any transferee who receives shares contrary to the provisions of this Agreement as a stockholder of Intrepid, and Intrepid may retain and recover all dividends on the shares that were paid or payable after the date on which the prohibited transfer was made or attempted.
Not Transferable. Tenant acknowledges and agrees that the Right of Refusal shall be deemed personal to Tenant and other than in connection with a Permitted Transfer, if Tenant subleases, assigns or otherwise transfers any interests hereunder to any person or entity prior to the exercise of the Right of Refusal, the Right of Refusal shall lapse and be forever waived.