Donative Transfer definition
Donative Transfer with respect to Option Shares means any voluntary Transfer by a transferor other than for value or the payment of consideration to the transferor.
Donative Transfer means any transfer of an Option made for donative purposes or without the payment or receipt by or on behalf of the Optionee of any cash, property or other consideration. For purposes of this Section 2.13, neither an Optionee’s receipt of or eligibility for a deduction, credit or similar allowance for federal or state income tax or estate tax purposes nor the transferee’s use for family or support purposes of any proceeds realized from the sale of any shares of Common Stock acquired on exercise of an Option shall be deemed to be the receipt of consideration.
Donative Transfer means any transfer made for donative purposes or without the payment to or receipt by or on behalf of Stockholder of any cash, property or other consideration. For purposes of this Section, Stockholder's receipt of or eligibility for a deduction, credit or similar allowance for federal or state income tax or estate tax purposes as a result of the transfer shall not be deemed to be the receipt of consideration. In addition, a transfer of Shares to a charitable remainder trust or similar entity through which the Charity receives a remainder beneficial interest in the Shares shall be deemed to be a "donative transfer" even though the Stockholder has the right to receive an annual distribution from the trust or other entity.
Examples of Donative Transfer in a sentence
In the case of a Donative Transfer or an Involuntary Transfer, the Offered Price to be paid to the Holder by the Company or its assignee will be the Fair Market Value on the proposed transfer date, as conclusively determined in good faith by the Board.
If no price or other legal consideration is to be paid for the Shares, the Transfer will be referred to as a "Donative Transfer".
In the case of a Donative Transfer or Involuntary Transfer, the Offered Price to be paid to the Holder by the Company or its assignee will be the fair market value of the Offered Shares on the proposed transfer date, as conclusively determined in good faith by the Board of Directors of the Company.
More Definitions of Donative Transfer
Donative Transfer with respect to Option Shares means any voluntary Transfer by a transferor other than for value or the payment of consideration to the transferor. A Donative Transfer will include, without limitation: (i) a Transfer by will or under the laws of descent and distribution; or (ii) a Transfer by a Holder of Option Shares to his or her ancestors, descendants or spouse (other than pursuant to a decree of divorce, dissolution or separate maintenance, a property settlement, or a separation agreement or any similar agreement or arrangement with a spouse, except for bona fide estate planning purposes), or to a trust, partnership, limited liability company, custodianship or other fiduciary account for the benefit of the Holder and/or such ancestors, descendants or spouse, including any Transfer in the form of a distribution from any such trust, partnership, limited liability company, custodianship or other fiduciary account to any of the foregoing permitted beneficial owners or beneficiaries thereof.
Donative Transfer with respect to Shares means any voluntary Transfer with donative or charitable intent by a transferor other than for value or the payment of consideration to the transferor.
Donative Transfer means any voluntary Transfer by a transferor other than for value or the payment of consideration to the transferor.
Donative Transfer with respect to Option Shares means any voluntary Transfer by a transferor other than for value or the payment of consideration to the transferor. A Donative Transfer will include, without limitation: (i) a Transfer by will or under the laws of descent and distribution; or (ii) a Transfer by a Holder of Option Shares to his or her ancestors, descendants or spouse (other than pursuant to a decree of divorce, dissolution or separate maintenance, a property settlement, or a separation agreement or any similar agreement or arrangement with a spouse, except for bona fide estate planning