Non-Assignability Clause Example from Business Contracts

This example Non-Assignability clause appears in 6 contracts from 6 companies

Non-Assignability. The Option shall not be transferable by the Participant otherwise than by will or by the laws of descent and distribution. If this Option is a Non-Qualified Option then it may also be transferred pursuant to a qualified domestic relations order as defined by the Code or Title I of the Employee Retirement Income Security Act or the rules thereunder and the Participant, with the approval of the Administrator, may transfer the Option for no consideration to or for the benefit of the Participant's I...mmediate Family (including, without limitation, to a trust for the benefit of the Participant's Immediate Family or to a partnership or limited liability company for one or more members of the Participant's Immediate Family), subject to such limits as the Administrator may establish, and the transferee shall remain subject to all the terms and conditions applicable to the Option prior to such transfer and each such transferee shall so acknowledge in writing as a condition precedent to the effectiveness of such transfer. The term "Immediate Family" shall mean the Participant's spouse, former spouse, parents, children, stepchildren, adoptive relationships, sisters, brothers, nieces, nephews and grandchildren (and, for this purpose, shall also include the Participant). Except as provided above in this paragraph, the Option shall be exercisable, during the Participant's lifetime, only by the Participant (or, in the event of legal incapacity or incompetency, by the Participant's guardian or representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. Any attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights granted hereunder contrary to the provisions of this Section 7, or the levy of any attachment or similar process upon the Option shall be null and void. View More Arrow
Found in MATEON THERAPEUTICS INC contract
Inhibrx, Inc. Contracts

Form of Stock Option Grant Notice under the Amended and Restated 2017 Employee, Director and Consultant Equity Incentive Plan (to be effective upon completion of this offering) (Filed With SEC on June 3, 2019)

MABVAX THERAPEUTICS HOLDINGS, INC. Contracts

AMENDED AND RESTATED MABVAX THERAPEUTICS HOLDINGS, INC. 2014 EMPLOYEE, DIRECTOR AND CONSULTANT EQUITY INCENTIVE PLAN (Filed With SEC on September 29, 2014)

Aldeyra Therapeutics, Inc. Contracts

NEURON SYSTEMS, INC. 2010 EMPLOYEE, DIRECTOR AND CONSULTANT EQUITY INCENTIVE PLAN (as amended on September 8, 2013) (Filed With SEC on January 6, 2014)

ASPEN AEROGELS INC Contracts

ASPEN AEROGELS, INC. Stock Option Grant Notice Stock Option Grant under the Companys 2014 Employee, Director and Consultant Equity Incentive Plan (Filed With SEC on May 14, 2014)

MATEON THERAPEUTICS INC Contracts

OXiGENE, INC. StockOption Grant Notice Stock Option Grant under the Companys 2015 Equity Incentive Plan (Filed With SEC on August 6, 2015)

Quanterix Corp Contracts

Form of Stock Option Agreement under the 2017 Employee, Director and Consultant Equity Incentive Plan (Filed With SEC on November 27, 2017)