Option Nontransferable. This option is not transferable or assignable by the Grantee other than by will or by the laws of descent and distribution, and during the lifetime of the Grantee, this option is exercisable only by the Grantee.
Appears in 6 contracts
Samples: Term Sheet (Cephalon Inc), Grant Agreement (Cephalon Inc), Grant Agreement (Cephalon Inc)
Option Nontransferable. This option Option is not transferable or assignable by the Grantee other than by will or by the laws of descent and distribution, and during the lifetime of the Grantee, this option Option is exercisable only by the Grantee. Upon the death of the Grantee, the Person to whom the rights under this Option have passed by will or by the laws of descent and distribution may exercise this Option only in accordance with this Agreement and the provisions of the Plan.
Appears in 4 contracts
Samples: Employee Stock Option Agreement (Adolor Corp), Employee Stock Option Agreement (Adolor Corp), Stock Option Agreement (Adolor Corp)
Option Nontransferable. This (a) Except as described in subparagraph (b) below, this option is not transferable or assignable by the Grantee other than by will or by the laws of descent and distribution, and during the lifetime of the Grantee, this option is exercisable only by the Grantee.
Appears in 2 contracts
Samples: Non Employee Director (Cephalon Inc), Non Employee Director (Cephalon Inc)
