Transferability of Grants Contract Clauses (41)

Grouped Into 2 Collections of Similar Clauses From Business Contracts

This page contains Transferability of Grants clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Transferability of Grants. Except as described in subsection (b) below, only the Participant may exercise rights under a Grant during the Participant's lifetime, and a Participant may not transfer those rights except by will or by the laws of descent and distribution. When a Participant dies, the personal representative or other person entitled to succeed to the rights of the Participant may exercise such rights. Any such successor must furnish proof satisfactory to the Company of his or her right to receive the Grant und...er the Participant's will or under the applicable laws of descent and distribution. (b) Transfer of Nonqualified Stock Options to or for Family Members. Notwithstanding the foregoing, the Committee may provide, in a Grant Agreement, that a Participant may transfer Nonqualified Stock Options to family members, or one or more trusts or other entities for the benefit of or owned by family members, consistent with the applicable securities laws, according to such terms as the Committee may determine; provided that the Participant receives no consideration for the transfer of an Option and the transferred Option shall continue to be subject to the same terms and conditions as were applicable to the Option immediately before the transfer. View More
Found in IE PubCo Inc. contract
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Transferability of Grants. Except as described in subsection (b) below, only the Participant may exercise rights under a Grant during the Participant's lifetime, and a Participant may not transfer those rights except by will or by the laws of descent and distribution. When a Participant dies, the personal representative or other person entitled to succeed to the rights of the Participant may exercise such rights. Any such successor must furnish proof satisfactory to the Company of his or her right to receive the Grant und...er the Participant's will or under the applicable laws of descent and distribution. (b) Transfer of Nonqualified Stock Options to or for Family Members. Notwithstanding the foregoing, the Committee may provide, in a Grant Agreement, that a Participant may transfer Nonqualified Stock Options to family members, or one or more trusts or other entities for the benefit of or owned by family members, consistent with the applicable securities laws, according to such terms as the Committee may determine; provided that the Participant receives no consideration for the transfer of an Option and the transferred Option shall continue to be subject to the same terms and conditions as were applicable to the Option immediately before the transfer. Such surrender, termination, settlement or assumption shall take place as of the date of the Reorganization Event or such other date as the Committee may specify. View More
Found in Fibrocell Science, Inc. contract
Transferability of Grants. (a) No Transferability of Options. Except as described in subsection (b) provided below, only the Participant may exercise rights under a Grant an Award during the Participant's lifetime, and a Participant ‘s lifetime. A Participant may not transfer those rights except by will or by the laws of descent and distribution. distribution or, with respect to Options other than Incentive Stock Options, if permitted in any specific case by the Committee, pursuant to a domestic relations order. When a Pa...rticipant dies, the personal representative or other person entitled to succeed to the rights of the Participant may exercise such rights. Any such successor rights, and must furnish proof satisfactory to the Company of his or her right to receive the Grant Options under the Participant's Participant ‘s will or under the applicable laws of descent and distribution. (b) Transfer of Nonqualified Stock Options to or for Family Members. Options. Notwithstanding the foregoing, the Committee Board may provide, in a Grant an Award Agreement, that a Participant may transfer Nonqualified Stock Options to family members, or one or more trusts or other entities for the benefit of or owned by family members, consistent with the applicable securities laws, according to such terms as the Committee Board may determine; provided that the Participant receives no consideration for the transfer of an Option and the transferred Option shall continue to be subject to the same terms and conditions as were applicable to the Option immediately before the transfer. View More
Found in Bright Mountain Media, Inc. contract
Transferability of Grants. Except as described provided in subsection (b) below, this Section 17, only the Participant may exercise rights under a Grant during the Participant's lifetime, and a lifetime. A Participant may not transfer those rights except by will or by the laws of descent and distribution. distribution, or, with respect to Grants other than Incentive Stock Options, if permitted in any specific case by the Administrator, pursuant to a domestic relations order. When a Participant dies, the personal represent...ative or other person entitled to succeed to the rights of the Successor Participant may exercise such rights. Any such successor rights in accordance with the terms of the Plan. A Successor Participant must furnish proof satisfactory to the Company of his or her right to receive the Grant under the Participant's will or under the applicable laws of descent and distribution. (b) Transfer of Nonqualified Stock Options to or for Family Members. Options. Notwithstanding the foregoing, the Committee Administrator may provide, provide in a Grant Agreement, Instrument that a Participant may transfer Nonqualified Stock Options to family members, or members of the Participant, one or more trusts in which family members of the Participant have more than 50% of the beneficial interest, foundations in which family members of the Participant (or the Participant) control the management of assets, or any other entities for entity in which family members of the benefit Participant (or the Participant) own more than 50% of or owned by family members, the voting interests, consistent with the applicable securities laws, according to such terms as the Committee Administrator may determine; provided that the Participant receives no consideration for the transfer of an a Nonqualified Stock Option and the transferred Nonqualified Stock Option shall continue to be subject to the same terms and conditions as were applicable to the Nonqualified Stock Option immediately before the transfer. View More
Found in International Money Express, Inc. contract
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Transferability of Grants. (a) Nontransferability of Grants. Except as provided below, only the Grantee may exercise rights under a Grant during the Grantee's lifetime. A Grantee may not transfer those rights except (i) by will or by the laws of descent and distribution or (ii) with respect to Grants other than Incentive Stock Options, if permitted in any specific case by the Board, pursuant to a domestic relations order or otherwise as permitted by the Board. When a Grantee dies, the personal representative or other pers...on entitled to succeed to the rights of the Grantee may exercise such rights. Any such successor must furnish proof satisfactory to the Company of his or her right to receive the Grant under the Grantee's will or under the applicable laws of descent and distribution. (b) Transfer of Nonqualified Stock Options. Notwithstanding the foregoing, the Board may provide, in a Grant Instrument, that a Grantee may transfer Nonqualified Stock Options to family members, or one or more trusts or other entities for the benefit of or owned by family members, consistent with applicable securities laws, according to such terms as the Board may determine; provided that the Grantee receives no consideration for the transfer of an Option and the transferred Option shall continue to be subject to the same terms and conditions as were applicable to the Option immediately before the transfer. View More
Found in MARINUS PHARMACEUTICALS INC contract
Transferability of Grants. (a) Nontransferability of Grants. Except as provided below, only the Grantee may exercise rights under a Grant during the Grantee's lifetime. A Grantee may not transfer those rights except (i) by will or by the laws of descent and distribution or (ii) or, with respect to Grants other than Incentive Stock Options, if permitted in any specific case by the Board, Committee, pursuant to a domestic relations order (as defined under the Code or otherwise Title I of the Employee Retirement Income Secur...ity Act of 1974, as permitted by amended, or the Board. regulations thereunder). When a Grantee dies, the personal representative or other person entitled to succeed to the rights of the Grantee ("Successor Grantee") may exercise such rights. Any such successor rights which have not been extinguished by the Grantee's death. A Successor Grantee must furnish proof satisfactory to the Company of his or her right to receive the Grant under the Grantee's will or under the applicable laws of descent and distribution. (b) Transfer of Nonqualified Stock Options. Notwithstanding the foregoing, the Board Committee may provide, provide in a Grant Instrument, Instrument that a Grantee may transfer Nonqualified Stock Options a Grant to family members, or one or more trusts members or other persons or entities for the benefit of or owned by family members, consistent with applicable securities laws, according to such terms as the Board Committee may determine; provided that the Grantee receives no consideration for the transfer of an a Nonqualified Stock Option and the transferred Nonqualified Stock Option shall continue to be subject to the same terms and conditions as were applicable to the Nonqualified Stock Option immediately before the transfer. If any such deferral election is permitted or required, the Company shall establish rules and procedures for such deferrals and such rules and procedures will, at all times, be subject to and consistent with the requirements of Code section 409A and all applicable guidance thereunder such that none of the additive taxes under Code section 409A will apply. The Committee shall have the right to condition any Grant made to any Grantee hereunder on such Grantee's undertaking in writing to comply with such restrictions on his or her subsequent disposition of such Shares as the Committee shall deem necessary or advisable as a result of any applicable law, regulation or official interpretation thereof, and certificates representing such Shares may be legended to reflect any such restrictions. Certificates representing Shares issued or transferred under the Plan will be subject to such stop-transfer orders and other restrictions as may be required by applicable laws, regulations and interpretations, including any requirement that a legend be placed thereon. View More
Found in Cerner contract
Transferability of Grants. (a) a. Nontransferability of Grants. Except as provided below, only the Grantee may exercise rights under a Grant during the Grantee's lifetime. A Grantee may not transfer those rights except (i) by will or by the laws of descent and distribution or (ii) or, with respect to Grants other than Incentive Stock Options, if permitted in any specific case by the Board, Committee, pursuant to a domestic relations order or otherwise as permitted by the Board. order. When a Grantee dies, the personal rep...resentative or other person entitled to succeed to the rights of the Grantee ("Successor Grantee") may exercise such rights. Any such successor A Successor Grantee must furnish proof satisfactory to the Company of his or her right to receive the Grant under the Grantee's will or under the applicable laws of descent and distribution. (b) b. Transfer of Nonqualified Stock Options. Notwithstanding the foregoing, the Board Committee may provide, in a Grant Instrument, that a Grantee may transfer Nonqualified Stock Options to family members, or one or more trusts or other entities for the benefit of or owned by family members, consistent with the applicable securities laws, according to such terms as the Board Committee may determine; provided that the Grantee receives no consideration for the transfer of an Option and the transferred Option shall continue to be subject to the same terms and conditions as were applicable to the Option immediately before the transfer. View More
Found in Bright Mountain Media, Inc. contract
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