Common use of Nontransferability of Option Clause in Contracts

Nontransferability of Option. No Option shall be transferred by the Optionee otherwise than by will or the laws of descent and distribution. During the lifetime of the Optionee, the Option shall be exercisable only by him or by his legal guardian or personal representative, or by an individual holding on behalf of the Optionee a valid Durable Power of Attorney.

Nontransferability of Option. No Option shall be transferred by the Optionee otherwise than by will or the laws of descent and distributiondistribution or pursuant to a Qualified Domestic Order. During the lifetime of the Optionee, the Option shall be exercisable only by him the Optionee or by his the Optionee’s legal guardian or personal representative, or by an individual holding on behalf of the Optionee a valid Durable Power of Attorney.

Nontransferability of Option. No The Option shall be transferred by the Optionee nontransferable otherwise than by will or the laws of descent and distribution. During distribution and during the lifetime of the Optionee, the Option shall may be exercisable exercised only by him or Optionee or, during the period Optionee is under a legal disability, by his legal Optionee’s guardian or personal legal representative. Except as provided above, the Option may not be assigned, transferred, pledged, hypothecated or disposed of in any way (whether by an individual holding on behalf operation of the Optionee a valid Durable Power of Attorneylaw or otherwise) and shall not be subject to execution, attachment or similar process.

Nontransferability of Option. No This Option shall be transferred by the Optionee is nontransferable otherwise than by will or the laws of descent and distribution. During distribution and during the lifetime of the Optionee, the Option shall may be exercisable exercised only by him or the Optionee or, during the period the Optionee is under a legal disability, by his legal the Optionee’s guardian or personal legal representative. Except as provided above, the Option may not be assigned, transferred, pledged, hypothecated or disposed of in any way (whether by an individual holding on behalf operation of the Optionee a valid Durable Power of Attorneylaw or otherwise) and will not be subject to execution, attachment or similar process.

Nontransferability of Option. No Option shall be transferred by the Optionee otherwise than by will or the laws of descent and distribution. During the lifetime of the Optionee, the Option shall be exercisable only by him or by his legal guardian or personal representative, or by an individual holding on behalf of the Optionee a valid Durable Power of Attorney.

Nontransferability of Option. No This Option shall be transferred by the Optionee nontransferable otherwise than by will or the laws of descent and distribution. During distribution and during the lifetime of the Optionee, the this Option shall may be exercisable exercised only by him or Optionee or, during the period Optionee is under a legal disability, by his legal Optionee’s guardian or personal legal representative. Except as provided above, this Option may not be assigned, transferred, pledged, hypothecated or disposed of in any way (whether by an individual holding on behalf operation of the Optionee a valid Durable Power of Attorneylaw or otherwise) and shall not be subject to execution, attachment or similar process.

Nontransferability of Option. No Except as may be permitted otherwise pursuant to the Plan, this Option shall be transferred by the Optionee otherwise is not transferable other than by will or by the laws of descent and distribution. During The Option may be exercised during the lifetime of the Optionee, the Option shall be exercisable only by him or by his legal guardian or personal representative, or by an individual holding on behalf life of the Optionee a valid Durable Power of Attorneyonly by the Optionee (or his/her legal representative).

Nontransferability of Option. No This Option shall be transferred by the Optionee is nontransferable otherwise than by will or the laws of descent and distribution. During distribution and during the lifetime of the Optionee, the Option shall may be exercisable exercised only by him or the Optionee or, during the period the Optionee is under a legal disability, by his legal the Optionee’s guardian or personal legal representative. Except as provided above, the Option may not be assigned, transferred, pledged, hypothecated, or disposed of in any way (whether by an individual holding on behalf operation of the Optionee a valid Durable Power of Attorneylaw or otherwise) and shall not be subject to execution, attachment, or similar process.

Nontransferability of Option. No The Option shall may not be transferred by the Optionee otherwise than transferred, in whole or in part, except by will or the applicable laws of descent and distribution. During The Option may not be exercised by any person other than the lifetime Optionee or, in the case of the Optionee’s death, by the Option shall be exercisable only person to whom the Optionee’s rights have passed by him will or by his legal guardian or personal representative, or by an individual holding on behalf the applicable laws of the Optionee a valid Durable Power of Attorneydescent and distribution.

Nontransferability of Option. No Option shall be transferred by the an Optionee otherwise than by will or the laws of descent and distribution. During the lifetime of the an Optionee, the Option shall be exercisable only by him or by his legal guardian or personal representative, or by an individual holding on behalf of the Optionee a valid Durable Power of Attorney.

Nontransferability of Option. No The Option shall be transferred is not transferable by the Optionee otherwise than Optionee, except by will or the laws of descent and distribution. During The Option is exercisable, during the lifetime of the Optionee, only by the Optionee or the Optionee's guardian or legal representative. Following the death of the Optionee, the Option shall may be exercisable only exercised, to the extent permitted by him Section 5, by the executor or by his legal guardian or personal representative, or by an individual holding on behalf administrator of the estate of the Optionee a valid Durable Power or by the person or persons to whom rights under the Option have passed by the Optionee's will or the laws of Attorneydescent and distribution.

Nontransferability of Option. No Option shall be transferred by the Optionee otherwise than The Options are not assignable or transferable except by will or by the applicable laws of descent and distribution. During the lifetime of The Options are exercisable during the Optionee, the Option shall be exercisable ’s lifetime only by him or by his legal guardian or personal representative, or by an individual holding on behalf of the Optionee a valid Durable Power or in the case of AttorneyDisability, by the Optionee’s legal guardian.

Nontransferability of Option. No Option shall be transferred by the an Optionee otherwise than by will or the laws of descent and distribution. During the lifetime of the an Optionee, the Option shall be exercisable only by him or by his legal guardian or personal representative, or by an individual holding on behalf of the Optionee a valid Durable Power of Attorney.

Nontransferability of Option. No Option or any rights therein shall be transferred transferable by the an Optionee otherwise than by will or the laws of descent and distribution. During the lifetime of the an Optionee, the an Option granted to that Optionee shall be exercisable only by him such Optionee (or by his legal such Optionee's guardian or personal other legal representative, or by an individual holding on behalf of the Optionee a valid Durable Power of Attorneyshould one be appointed).

Nontransferability of Option. No This Option shall may not be transferred by the Optionee otherwise in any manner other than by will or by the laws of descent and distribution. During distribution and may be exercised during the lifetime of Optionee only by Optionee or Optionee’s legal representative and after Optionee’s death by the legal representative of Optionee, the ’s heirs or legatees. The terms of this Option shall be exercisable only by him binding upon the legal representative or by his legal guardian or personal representative, or by an individual holding on behalf authorized assignee of the Optionee a valid Durable Power of AttorneyOptionee.

Nontransferability of Option. No Option shall be transferred transferable by the Optionee otherwise than by will or the laws of descent and distribution. During the lifetime of the Optionee, the Option distribution and shall be exercisable during the Optionee's lifetime only by him the Optionee (or by his legal the Optionee's guardian or personal legal representative, or by an individual holding on behalf of the Optionee a valid Durable Power of Attorney).