Options Not Transferable. Neither the option nor any interest or right therein or part thereof shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition is 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; provided, however, that this Section 3.2 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 6 contracts
Samples: Preferred Stock Incentive Stock Option Agreement (Net2000 Communications Inc), Incentive Stock Option Agreement (Net2000 Communications Inc), Incentive Stock Option Agreement (Net2000 Communications Inc)
Options Not Transferable. Neither the option Option nor any interest or right therein or part thereof shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition is 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; provided, however, that this Section 3.2 11 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 4 contracts
Samples: Non Qualified Stock Option Agreement (Analex Corp), Incentive Stock Option Agreement (Embedded Support Tools Corp), Non Qualified Stock Option Agreement (Analex Corp)
Options Not Transferable. Neither the option nor any interest or right therein or part thereof shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition is 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; provided, however, that this Section 3.2 paragraph 12 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 3 contracts
Samples: Powercerv Corporation Nonstatutory Stock Option Agreement (RCF Inc), Powercerv Corporation Nonstatutory Stock Option Agreement (Powercerv Corp), Powercerv Corporation Nonstatutory Stock Option Agreement (Powercerv Corp)
Options Not Transferable. Neither the option Option nor any interest or right therein or part thereof shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition is 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; provided, however, that this Section 3.2 12 shall not prevent transfers by will or by the applicable laws of descent and distribution.
Appears in 3 contracts
Samples: Nonqualified Stock Option Agreement (Kos Pharmaceuticals Inc), Nonqualified Stock Option Agreement (Kos Pharmaceuticals Inc), Nonqualified Stock Option Agreement (Medical Technology Systems Inc /De/)
