Non-Assignability Clause Example from Business Contracts

This example Non-Assignability clause appears in 5 contracts from 5 companies

Non-Assignability. The Option shall not be transferable by the Participant otherwise than by will or by the laws of descent and distribution. For California Participants, the Option shall not be transferable other than by will, by the laws of descent and distribution, to a revocable trust or as permitted by Rule 701 of the Securities Act of 1933. 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 Employe...e 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 Immediate 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
Found in HealthCor Catalio Acquisition Corp. contract
Neuralstem, Inc. Contracts

Leading BioSciences, Inc. Amended and Restated 2013 Employee, Director and Consultant Equity Incentive Plan and Forms of Stock Option Grant Notice, Stock Option Agreement and... (Filed With SEC on December 23, 2020)

Longview Acquisition Corp. Contracts

Form of Stock Option Agreement under 2012 Employee, Director and Consultant Equity Incentive Plan, as amended (Filed With SEC on February 16, 2021)

HighCape Capital Acquisition Corp. Contracts

Form of Stock Option Agreement under 2013 Employee, Director and Consultant Equity Incentive Plan, as amended (Filed With SEC on June 15, 2021)

HealthCor Catalio Acquisition Corp. Contracts

Form of Stock Option Agreement under Hyperfine Operations, Inc. (formerly Hyperfine, Inc.) 2014 Employee, Director and Consultant Equity Incentive Plan, as amended (Filed With SEC on December 28, 2021)

Angion Biomedica Corp. Contracts

ANGION BIOMEDICA CORP. Stock Option Grant Notice Stock Option Grant under the Company’s 2014 Equity Incentive Plan (Filed With SEC on April 14, 2014)