Nontransferability of Option. Except to the extent and under such terms and conditions as determined by the Committee, the Option shall be nontransferable otherwise than by will or the laws of descent and distribution, and during the lifetime of the Participant, the Option may be exercised only by the Participant or, during the period the Participant is under a legal disability, by the Participant’s guardian or legal representative. Notwithstanding the foregoing, the Participant may, by delivering written notice to the Company, in a form provided by or otherwise satisfactory to the Company, designate a third party who, in the event of the Participant’s death, shall thereafter be entitled to exercise the Option.
Appears in 8 contracts
Samples: Stock Option Grant Agreement, Grant Agreement, Award Agreement (Vericel Corp)
Nontransferability of Option. Except to the extent and under such terms and conditions as determined by the CommitteeCommittee or its authorized designee, the Option shall be nontransferable otherwise than by will or the laws of descent and distribution, and during the lifetime of the Participant, the Option may be exercised only by the Participant or, during the period the Participant is under a legal disability, by the Participant’s guardian or legal representative. Notwithstanding the foregoing, the Participant may, by delivering written notice to the Company, in a form provided by or otherwise satisfactory to the Company, designate a third party who, in the event of the Participant’s death, shall thereafter be entitled to exercise the Option.. PAGE \* MERGEFORMAT- 2 -
Appears in 7 contracts
Samples: Nonqualified Stock Option Grant Agreement for Non Employee Directors (Arena Pharmaceuticals Inc), Nonqualified Stock Option Grant Agreement for Non Employee Directors (Arena Pharmaceuticals Inc), Nonqualified Stock Option Grant Agreement for Non Employee Directors (Arena Pharmaceuticals Inc)
Nontransferability of Option. Except to the extent and under such terms and conditions as determined by the Committee, the The Option shall be nontransferable otherwise than by will or the laws of descent and distribution, and during the lifetime of the Participant, the Option may be exercised only by the Participant or, during the period the Participant is under a legal disability, by the Participant’s 's guardian or legal representative. Notwithstanding the foregoing, the Participant may, by delivering written notice to the Company, in a form provided by or otherwise satisfactory to the Company, designate a third party who, in the event of the Participant’s death, shall thereafter be entitled to exercise the Option.
Appears in 6 contracts
Samples: Incentive Stock Option Grant Agreement – Exempt Employees (Savara Inc), Incentive Stock Option Award Agreement (Vericel Corp), Incentive Stock Option Award Agreement (Vericel Corp)
Nontransferability of Option. Except to the extent and under such terms and conditions as determined by the Committee, the The Option shall be nontransferable otherwise than by will or the laws of descent and distribution, and during the lifetime of the Participant, the Option may be exercised only by the Participant or, during the period the Participant is under a legal disability, by the Participant’s guardian or legal representative. Notwithstanding the foregoing, the Participant may, by delivering written notice to the Company, in a form provided by or otherwise satisfactory to the Company, designate a third party who, in the event of the Participant’s death, shall thereafter be entitled to exercise the Option.
Appears in 6 contracts
Samples: Incentive Stock Option Grant Agreement for Employees, Incentive Plan Incentive Stock Option Award Agreement (Vericel Corp), Incentive Plan Incentive Stock Option Award Agreement (Vericel Corp)
Nontransferability of Option. Except to the extent and under such terms and conditions as determined by the CommitteeCommittee or its authorized designee, the Option shall be nontransferable otherwise than by will or the laws of descent and distribution, and during the lifetime of the Participant, the Option may be exercised only by the Participant or, during the period the Participant is under a legal disability, by the Participant’s guardian or legal representative. Notwithstanding the foregoing, the Participant may, by delivering written notice to the Company, in a form provided by or otherwise satisfactory to the Company, designate a third party who, in the event of the Participant’s death, shall thereafter be entitled to exercise the Option.
Appears in 3 contracts
Samples: Grant Agreement (Arena Pharmaceuticals Inc), Stock Option Grant Agreement (Arena Pharmaceuticals Inc), Stock Option Grant Agreement for Employees or Consultants (Arena Pharmaceuticals Inc)
Nontransferability of Option. Except to the extent and under such terms and conditions as determined by the Committee, the Option shall be nontransferable otherwise than by will or the laws of descent and distribution, and during the lifetime of the Participant, the Option may be exercised only by the Participant or, during the period the Participant is under a legal disability, by the Participant’s 's guardian or legal representative. Notwithstanding the foregoing, the Participant may, by delivering written notice to the Company, in a form provided by or otherwise satisfactory to the Company, designate a third party who, in the event of the Participant’s death, shall thereafter be entitled to exercise the Option.
Appears in 1 contract
Samples: Award Agreement (Vericel Corp)
Nontransferability of Option. Except to the extent and under such terms and conditions as determined by the Committee, the Option shall be nontransferable otherwise than by will or the laws of descent and distribution, and during the lifetime of the Participant, the Option may be exercised only by the Participant or, during the period the Participant is under a legal disability, by the Participant’s 's guardian or legal representative. Notwithstanding the ACTIVE/90650438.4 foregoing, the Participant may, by delivering written notice to the Company, in a form provided by or otherwise satisfactory to the Company, designate a third party who, in the event of the Participant’s death, shall thereafter be entitled to exercise the Option.
Appears in 1 contract
Samples: Award Agreement (Vericel Corp)
Nontransferability of Option. Except to the extent and under such terms and conditions as determined by the Committee, the The Option shall be nontransferable otherwise than by will or the laws of descent and distribution, and during the lifetime of the Participant, the Option may be exercised only by the Participant or, during the period the Participant is under a legal disability, by the Participant’s 's guardian or legal representative. Notwithstanding the foregoing, the Participant may, by delivering written notice to the Company, in a form provided by or otherwise satisfactory to the Company, designate a third party who, in the event of the Participant’s death, shall thereafter be entitled to exercise the Option.. (c)
Appears in 1 contract
Samples: Incentive Plan Incentive Stock Option Award Agreement Award Agreement