Restrictions on Exercise Clause Example from Business Contracts

This example Restrictions on Exercise clause appears in 4 contracts from 3 companies

Restrictions on Exercise. Except as the Board may otherwise permit pursuant to the Plan, only the Grantee may exercise the Option during the Grantee's lifetime and, after the Grantee's death, the Option shall be exercisable (subject to the limitations specified in the Plan) solely by the legal representatives of the Grantee, or by the person who acquires the right to exercise the Option by will or by the laws of descent and distribution, to the extent that the Option is exercisable pursuant to this Agreement.
Found in VerifyMe, Inc. contract
Zynerba Pharmaceuticals, Inc. Contracts

ZYNERBA PHARMACEUTICALS, INC. 2014 OMNIBUS INCENTIVE COMPENSATION PLAN NONQUALIFIED STOCK OPTION GRANT (Filed With SEC on June 30, 2015)

Axsome Therapeutics, Inc. Contracts

AXSOME THERAPEUTICS, INC. 2013 Equity Compensation Plan (Filed With SEC on October 13, 2015)

VerifyMe, Inc. Contracts

LASERLOCK TECHNOLOGIES, INC. NONQUALIFIED STOCK OPTION GRANT (Filed With SEC on April 1, 2013)

Exhibit 10.28 LASERLOCK TECHNOLOGIES, INC. NONQUALIFIED STOCK OPTION GRANT (Filed With SEC on April 1, 2013)