Non-Transferability Clause Example from Business Contracts

This example Non-Transferability clause appears in 5 contracts from 3 companies

Non-Transferability. The Options are not transferable by the Participant; provided, to the extent permitted by the Committee in accordance with Section 14(b) of the Plan, vested Options may be transferred to Permitted Transferees. Except as otherwise provided herein, no assignment or transfer of the Options, or of the rights represented thereby, whether voluntary or involuntary, by operation of law or otherwise, shall vest in the assignee or transferee any interest or right herein whatsoever, but immediately upon su...ch assignment or transfer the Options shall terminate and become of no further effect. View More