Common use of NONTRANSFERABILITY OF THE OPTION Clause in Contracts

NONTRANSFERABILITY OF THE OPTION. The Option may be exercised during the lifetime of the Participant only by the Participant or the Participant’s guardian or legal representative and may not be assigned or transferred in any manner except by will or by the laws of descent and distribution. Following the death of the Participant, the Option, to the extent provided in Section 7, may be exercised by the Participant’s legal representative or by any person empowered to do so under the deceased Participant’s will or under the then applicable laws of descent and distribution.

NONTRANSFERABILITY OF THE OPTION. The Option may be exercised during the lifetime of the Participant only by the Participant or the Participant’s guardian or legal representative and may not be assigned or transferred in any manner except by will or by the laws of descent and distribution. Following the death of the Participant, the Option, to the extent provided in Section 78, may be exercised by the Participant’s legal representative or by any person empowered to do so under the deceased Participant’s will or under the then applicable laws of descent and distribution.

NONTRANSFERABILITY OF THE OPTION. The Option may be exercised during the lifetime of the Participant only by the Participant or the Participant’s 's guardian or legal representative and may not be assigned or transferred in any manner except by will or by the laws of descent and distribution. Following the death of the Participant, the Option, to the extent provided in Section 7, may be exercised by the Participant’s 's legal representative or by any person empowered to do so under the deceased Participant’s 's will or under the the, then applicable laws of descent and distribution.