Restriction on Transfer of Option Contract Clauses (60)

Restriction on Transfer of Option. No part of the Option shall be transferred other than by will or by the laws of descent and distribution and during the lifetime of the Participant, may be exercised only by the Participant or the Participant's guardian or legal representative. In addition, the Option shall not be assigned, negotiated, pledged or hypothecated in any way (except as provided by law or herein), and the Option shall not be subject to execution, attachment or similar process. Upon any attempt to Transfer the Option o...r in the event of any levy upon the Option by reason of any execution, attachment or similar process contrary to the provisions hereof, such transfer shall be void and of no effect and the Company shall have the right to disregard the same on its books and records and to issue "stop transfer" instructions to its transfer agent. View More

Restriction on Transfer of Option. Unvested Options may not be transferred at any time. Grantee hereby acknowledges and agrees that the Vested Options and underlying Shares shall be subject to the restrictions on transfer applicable to "Options" and "Shares" to comply with all provisions of the Plan. Any transfer of Vested Options or Shares issued upon exercise thereof must be accompanied by a notice of the Company's repurchase right, if any, as set forth in the Plan. Unvested Options may be designated to be placed in a deferred ...compensation or retirement plan, pursuant to IRC Section 409A, established by the Company. Each and every transferee or assignee of Vested Options issued upon exercise thereof from the Grantee shall be bound by and subject to all the terms and conditions of the Plan and this Agreement on the same basis as the Grantee is bound. So long as this Agreement is in effect, the Company shall require, as a condition precedent to the transfer of any Vested Options by Grantee that the transferee agrees in writing to be bound by, and subject to, the terms and conditions of the Plan and this Agreement and to ensure that such transferees' transferees shall be likewise bound. 2 7. Rights as a Shareholder. Until the Options granted under this Agreement become Vested and are exercised in accordance with the terms hereof, the Grantee shall have no rights as a shareholder (including, without limitation, voting and dividend rights) with respect to any underlying Shares. View More

Restriction on Transfer of Option. This Agreement and the Option shall not be transferable otherwise than by will or by the laws of descent and distribution and the Option shall be exercisable, during the Optionee's lifetime, solely by the Optionee.