Common use of Nontransferability of Option Clause in Contracts

Nontransferability of Option. This Option may not be sold, pledged, assigned, hypothecated, gifted, transferred or disposed of in any manner either voluntarily or involuntarily by operation of law, other than by will or by the laws of descent or distribution or transfer between spouses incident to a divorce. Subject to the foregoing, the terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

Nontransferability of Option. This Option may not be sold, pledged, assigned, hypothecated, gifted, transferred or disposed of or in any manner either voluntarily or involuntarily by the operation of law, other than by the will or by the laws of descent or distribution or transfer between spouses incident to a divorcedistribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Subject to the foregoingforegoing and the terms of the Plan, the terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

Nontransferability of Option. This Option may not be sold, pledged, assigned, hypothecated, gifted, transferred or disposed of or in any manner either voluntarily or involuntarily by the operation of law, other than by the will or by the laws of descent or distribution or transfer between spouses incident to a divorcedistribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Subject to the foregoing, the terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

Nontransferability of Option. This Option may not be sold, pledged, assigned, hypothecated, gifted, transferred or disposed of in any manner either voluntarily or involuntarily by operation of law, other than by will or by the laws of descent or distribution or transfer between spouses incident to a divorcedistribution, and may be exercised during the lifetime of the Optionee only by the Optionee. Subject to the foregoing, the terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

Nontransferability of Option. This Option may not be sold, pledged, ---------------------------- assigned, hypothecated, gifted, transferred or disposed of in any manner either voluntarily or involuntarily by operation of lawlaw or otherwise, other than by will or by the laws of descent or distribution or transfer between spouses incident to a divorcedistribution, and may be exercised during the lifetime of Optionee only by such Optionee. Subject to the foregoingforegoing and the terms of the Plan, the terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

Nontransferability of Option. This Option may not be sold, pledged, assigned, hypothecated, gifted, transferred or disposed of in any manner manner, either voluntarily or involuntarily by operation of lawlaw or otherwise, other than by will or by the laws of descent or distribution or a transfer between spouses incident to a divorce, and may be exercised during the lifetime or the Optionee only by such Optionee or his or her legal guardian. Subject to the foregoingforegoing and the terms of the Plan, the terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

Nontransferability of Option. This Option may not be sold, pledged, assigned, hypothecated, gifted, transferred or disposed of in any manner either voluntarily or involuntarily by operation of law, other than by will or by the laws of descent or distribution or transfer between spouses incident to a divorcedistribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Subject to the foregoingforegoing and the terms of the Plan, the terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

Nontransferability of Option. This Option may not be sold, pledged, assigned, hypothecated, gifted, transferred or disposed of in any manner either voluntarily or involuntarily by the operation of law, other than by the will or by the laws of descent or distribution or transfer between spouses incident to a divorcedistribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Subject to the foregoing, the terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

Nontransferability of Option. This Option may not be sold, pledged, pledged assigned, hypothecated, gifted, transferred or disposed of in any manner either voluntarily or involuntarily by the operation of law, other than by the will or by the laws of descent or distribution or transfer between spouses incident to a divorcedistribution, and may be exercised during the lifetime of the Optionee only by such Optionee. Subject to the foregoingforegoing and the terms of the Director Plan, the terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

Nontransferability of Option. This Option may not be sold, pledged, assigned, hypothecated, gifted, transferred or disposed of in any manner either voluntarily or involuntarily by operation of lawlaw or otherwise, other than by will or by the laws of descent or distribution or transfer between spouses incident to a divorcedistribution, and may be exercised during the lifetime of Optionee only by such Optionee. Subject to the foregoingforegoing and the terms of the Option Plan, the terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

Nontransferability of Option. This Option may not be sold, pledged, assigned, hypothecated, gifted, transferred or disposed of in any manner either voluntarily or involuntarily by operation of lawlaw or otherwise, other than by will or by the laws of descent or distribution or transfer between spouses incident to a divorcedistribution, and may be exercised during the lifetime of Optionee only by such Optionee. Subject to the foregoingforegoing and the terms of the Plan, the terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

Nontransferability of Option. This Option may not be sold, pledged, assigned, hypothecated, gifted, transferred or disposed of in any manner manner, either voluntarily or involuntarily by operation of law, other than by will or by the laws of descent or distribution or distribution, or, if permitted of Options granted under Rule 16bB3, transfer between spouses incident to a divorce. Subject to the foregoingforegoing and the terms of the Plan, the terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.