Transferability Clause Example with 91 Variations from Business Contracts
This page contains Transferability clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Transferability. Except as otherwise provided in this Section 8, your option is not transferable, except by will or by the laws of descent and distribution, and is exercisable during your life only by you. (a) Certain Trusts. Upon receiving written permission from the Board or its duly authorized designee, you may transfer your option to a trust if you are considered to be the sole beneficial owner (determined under Section 671 of the Code and applicable state law) while the option is held in the trust. You and ...the trustee must enter into transfer and other agreements required by the Company. (b) Domestic Relations Orders. Upon receiving written permission from the Board or its duly authorized designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your option pursuant to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument as permitted by Treasury Regulation 1.421-1(b)(2) that contains the information required by the Company to effectuate the transfer. You are encouraged to discuss the proposed terms of any division of this option with the Company prior to finalizing the domestic relations order or marital settlement agreement to help ensure the required information is contained within the domestic relations order or marital settlement agreement. If your option is an Incentive Stock Option, the option may be deemed to be a Nonstatutory Stock Option as a result of such transfer. (c) Beneficiary Designation. Upon receiving written permission from the Board or its duly authorized designee, you may, by delivering written notice to the Company, in a form approved by the Company and any broker designated by the Company to handle option exercises, designate a third party who, on your death, will thereafter be entitled to exercise this option and receive the Common Stock or other consideration resulting from such exercise. In the absence of such a designation, your executor or administrator of your estate will be entitled to exercise this option and receive, on behalf of your estate, the Common Stock or other consideration resulting from such exercise.View More
Variations of a "Transferability" Clause from Business Contracts
Transferability. Except Prior to the time that shares of Common Stock have been delivered to you, you may not transfer, pledge, sell or otherwise dispose of any portion of the Restricted Stock Units or the shares in respect of your Restricted Stock Units. For example, you may not use shares that may be issued in respect of your Restricted Stock Units as security for a loan, nor may you transfer, pledge, sell or otherwise provided dispose of such shares. This restriction on transfer will lapse on delivery to you ...of shares in this Section 8, respect of your option is vested Restricted Stock Units. (a) Death. Your Restricted Stock Units are not transferable, except transferable other than by will or and by the laws of descent and distribution, and is exercisable during distribution. At your life only by you. (a) Certain Trusts. Upon receiving written permission from the Board death, your executor or its duly authorized designee, you may transfer administrator of your option estate will be entitled to a trust if you are considered to be the sole beneficial owner (determined receive, on behalf of your estate, Common Stock or other consideration under Section 671 of the Code and applicable state law) while the option is held in the trust. You and the trustee must enter into transfer and other agreements required by the Company. this Award. (b) Domestic Relations Orders. Upon receiving If you receive written permission from the Board or its duly authorized designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your option pursuant right to receive the terms distribution of Common Stock or other consideration under your Restricted Stock Units, in accordance with a domestic relations order, order or official marital settlement agreement or other divorce or separation instrument as permitted by Treasury Regulation 1.421-1(b)(2) that contains the information required by the Company to effectuate the transfer. You are encouraged to discuss with the Company's General Counsel the proposed terms of any division of this option with the Company such transfer prior to finalizing the domestic relations order or marital settlement agreement to verify that you may make such transfer, and if so, to help ensure the required information is contained within the domestic relations order or marital settlement agreement. If The Company is not obligated to allow you to transfer your option is an Incentive Stock Option, the option may be deemed to be a Nonstatutory Stock Option as a result of such transfer. (c) Beneficiary Designation. Upon receiving written permission from the Board Award in connection with your domestic relations order or its duly authorized designee, you may, by delivering written notice to the Company, in a form approved by the Company and any broker designated by the Company to handle option exercises, designate a third party who, on your death, will thereafter be entitled to exercise this option and receive the Common Stock or other consideration resulting from such exercise. In the absence of such a designation, your executor or administrator of your estate will be entitled to exercise this option and receive, on behalf of your estate, the Common Stock or other consideration resulting from such exercise. marital settlement agreement. View More
Transferability. Except Prior to the time that shares of Common Stock have been delivered to you, you may not transfer, pledge, sell or otherwise dispose of any portion of the Performance Stock Units or the shares in respect of your Performance Stock Units. For example, you may not use shares that may be issued in respect of your Performance Stock Units as security for a loan, nor may you transfer, pledge, sell or otherwise provided dispose of such shares. This restriction on transfer will lapse on delivery to y...ou of shares in this Section 8, respect of your option is vested Performance Stock Units. (a) Death. Your Performance Stock Units are not transferable, except transferable other than by will or and by the laws of descent and distribution, and is exercisable during distribution. At your life only by you. (a) Certain Trusts. Upon receiving written permission from the Board death, your executor or its duly authorized designee, you may transfer administrator of your option estate will be entitled to a trust if you are considered to be the sole beneficial owner (determined receive, on behalf of your estate, Common Stock or other consideration under Section 671 of the Code and applicable state law) while the option is held in the trust. You and the trustee must enter into transfer and other agreements required by the Company. this Award. (b) Domestic Relations Orders. Upon receiving If you receive written permission from the Board or its duly authorized designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your option pursuant right to receive the terms distribution of Common Stock or other consideration under your Performance Stock Units, in accordance with a domestic relations order, order or official marital settlement agreement or other divorce or separation instrument as permitted by Treasury Regulation 1.421-1(b)(2) that contains the information required by the Company to effectuate the transfer. You are encouraged to discuss with the Company's General Counsel the proposed terms of any division of this option with the Company such transfer prior to finalizing the domestic relations order or marital settlement agreement to verify that you may make such transfer, and if so, to help ensure the required information is contained within the domestic relations order or marital settlement agreement. If The Company is not obligated to allow you to transfer your option is an Incentive Stock Option, the option may be deemed to be a Nonstatutory Stock Option as a result of such transfer. (c) Beneficiary Designation. Upon receiving written permission from the Board Award in connection with your domestic relations order or its duly authorized designee, you may, by delivering written notice to the Company, in a form approved by the Company and any broker designated by the Company to handle option exercises, designate a third party who, on your death, will thereafter be entitled to exercise this option and receive the Common Stock or other consideration resulting from such exercise. In the absence of such a designation, your executor or administrator of your estate will be entitled to exercise this option and receive, on behalf of your estate, the Common Stock or other consideration resulting from such exercise. marital settlement agreement. View More
Transferability. Except as otherwise provided in this Section 8, your option is (a) Restrictions on Transfer. Your Option shall not transferable, be transferable except by will or by the laws of descent and distribution, distribution and is shall be exercisable during your life lifetime only by you. (a) Certain Trusts. Upon receiving written permission from you; provided, however, that if you reside in the United States, the Board or may, in its duly authorized designee, sole discretion, permit you may to transf...er your option to Option in a trust manner consistent with applicable tax and securities laws upon your request. Additionally, if you are considered to be the sole beneficial owner (determined under Section 671 of the Code and applicable state law) while the option is held in the trust. You and the trustee must enter into transfer and other agreements required by the Company. (b) Domestic Relations Orders. Upon receiving written permission from the Board or its duly authorized designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your option pursuant to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument as permitted by Treasury Regulation 1.421-1(b)(2) that contains the information required by the Company to effectuate the transfer. You are encouraged to discuss the proposed terms of any division of this option with the Company prior to finalizing the domestic relations order or marital settlement agreement to help ensure the required information is contained within the domestic relations order or marital settlement agreement. If your option is an Incentive Stock Option, the option Board may permit you to transfer your Option only to the extent permitted by Sections 421, 422 and 424 of the Code and the regulations and other guidance thereunder. (b) Domestic Relations Orders. Notwithstanding the foregoing, your Option may be transferred pursuant to a domestic relations order issued by a court in the United States; provided, however, that if your Option is an Incentive Stock Option, your Option shall be deemed to be a Nonstatutory Stock Option as a result of such transfer. (c) Beneficiary Designation. Upon receiving written permission from Notwithstanding the Board or its duly authorized designee, foregoing, you may, by delivering written notice to the Company, in a form approved provided by or otherwise satisfactory to the Company and any broker designated by the Company to handle option exercises, Company, designate a third party who, on in the event of your death, will shall thereafter be entitled to exercise this option your Option (to the extent vested) and receive the Common Stock or other consideration resulting from such an Option exercise. In the absence of such a designation, your the executor or administrator of your estate will shall be entitled to exercise this option the Option (to the extent vested) and receive, on behalf of your estate, receive the Common Stock or other consideration resulting from such an Option exercise. If you reside outside the United States, the Company will not be required to honor a beneficiary designation unless it is valid under applicable law; if not valid, then your Option may be exercised only by the executor or administrator of your estate. View More
Transferability. Except as otherwise provided in this Section 8, your option 4, this Award is not transferable, except by will or by the laws of descent and distribution, distribution. (a) Limitations on Transfer; Compliance with "Blackout" Window Period. In addition to any other limitation on transfer created by applicable securities laws, you agree not to assign, hypothecate, donate, encumber or otherwise dispose of any interest in any of the shares of Common Stock subject to this Award until the shares are is...sued to you in accordance with this Award Agreement. After the shares have been issued to you, you are free to assign, hypothecate, donate, encumber or otherwise dispose of any interest in such shares provided that any such actions are in compliance with the provisions herein, any applicable Company policies (including, but not limited to, insider trading and is exercisable during window period policies) and applicable securities laws. By accepting this Award, whether electronically or otherwise, you agree not to sell any such shares following a termination of your life only by you. (a) employment with the Company for any reason until the expiry of any "blackout" or other designated window period in which sales of shares of Common Stock are not permitted in place at the time of your termination. (b) Certain Trusts. Upon receiving written permission from the Board Company's General Counsel or its duly authorized his or her designee, you may transfer your option this Award to a trust if you are considered to be the sole beneficial owner (determined under Section 671 of the Code and applicable state law) while the option this Award is held in the trust. You trust, provided that you and the trustee must enter into transfer and other agreements required by the Company. (b) (c) Domestic Relations Orders. Upon receiving written permission from the Board Company's General Counsel or its duly authorized his or her designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your option this Award pursuant to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument as permitted by Treasury Regulation 1.421-1(b)(2) order that contains the information required by the Company to effectuate the transfer. You are encouraged to discuss the proposed terms of any division of this option Award with the Company prior to finalizing the domestic relations order or marital settlement agreement to help ensure the required information is contained within the domestic relations order or marital settlement agreement. If your option is an Incentive Stock Option, the option may be deemed to be a Nonstatutory Stock Option as a result of such transfer. (c) order. (d) Beneficiary Designation. Upon receiving written permission from the Board Company's General Counsel or its duly authorized his or her designee, you may, by delivering written notice to the Company, Company (including electronically) in a form approved provided by or otherwise satisfactory to the Company and any broker designated by the Company to handle option exercises, Company, designate a third party who, on in the event of your death, will shall thereafter be entitled to exercise this option and receive the any distribution of Common Stock or other consideration resulting from such exercise. to which you were entitled at the time of your death pursuant to this Award Agreement. In the absence of such a designation, your executor or administrator of your estate will shall be entitled to exercise this option and receive, on behalf of your estate, the any distribution of Common Stock or other consideration resulting from such exercise. to which you were entitled at the time of your death pursuant to this Award Agreement. View More
Transferability. Except as otherwise provided in this Section 8, your a. Restrictions on Transfer. Your option is shall not transferable, be transferable except by will or by the laws of descent and distribution, distribution and is shall be exercisable during your life lifetime only by you. (a) Certain Trusts. Upon receiving written permission from you; provided, however, that the Board or may, in its duly authorized designee, sole discretion, permit you may to transfer your option to a trust if you are conside...red to be the sole beneficial owner (determined under Section 671 of the Code and applicable state law) while the option is held in the trust. You and the trustee must enter into transfer and other agreements required by the Company. (b) Domestic Relations Orders. Upon receiving written permission from the Board or its duly authorized designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your option pursuant to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument such extent as permitted by Treasury Regulation 1.421-1(b)(2) that contains Section 260.140.41(c) of Title 10 of the information required by California Code of Regulations at the Company to effectuate time of the transfer. You are encouraged to discuss grant of the proposed terms of any division of this option and in a manner consistent with the Company prior to finalizing the domestic relations order or marital settlement agreement to help ensure the required information is contained within the domestic relations order or marital settlement agreement. If applicable tax and securities laws upon your request. Additionally, if your option is an Incentive Stock Option, the Board may permit you to transfer your option only to the extent permitted by Sections 421, 422 and 424 of the Code and the regulations and other guidance thereunder. b. Domestic Relations Orders. Notwithstanding the foregoing, your option may be transferred pursuant to a domestic relations order; provided, however, that if your option is an Incentive Stock Option, your option shall be deemed to be a Nonstatutory Stock Option as a result of such transfer. (c) c. Beneficiary Designation. Upon receiving written permission from Notwithstanding the Board or its duly authorized designee, foregoing, you may, by delivering written notice to the Company, in a form approved provided by or otherwise satisfactory to the Company and any broker designated by the Company to handle option exercises, Company, designate a third party who, on in the event of your death, will shall thereafter be entitled to exercise this your option and receive the Common Stock or other consideration resulting from such an Option exercise. In the absence of such a designation, your the executor or administrator of your estate will shall be entitled to exercise this option the Option and receive, on behalf of your estate, receive the Common Stock or other consideration resulting from such an Option exercise. View More
Transferability. Except as otherwise provided in this Section 8, your option is (a) Restrictions on Transfer. Your Option shall not transferable, be transferable except by will or by the laws of descent and distribution, distribution and is shall be exercisable during your life lifetime only by you. (a) Certain Trusts. Upon receiving written permission from you; provided, however, that if you reside in the United States, the Board or may, in its duly authorized designee, sole discretion, permit you may to transf...er your option to Option in a trust manner consistent with applicable tax and securities laws upon your request. Additionally, if you are considered to be the sole beneficial owner (determined under Section 671 of the Code and applicable state law) while the option is held in the trust. You and the trustee must enter into transfer and other agreements required by the Company. (b) Domestic Relations Orders. Upon receiving written permission from the Board or its duly authorized designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your option pursuant to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument as permitted by Treasury Regulation 1.421-1(b)(2) that contains the information required by the Company to effectuate the transfer. You are encouraged to discuss the proposed terms of any division of this option with the Company prior to finalizing the domestic relations order or marital settlement agreement to help ensure the required information is contained within the domestic relations order or marital settlement agreement. If your option is an Incentive Stock Option, the option Board may permit you to transfer your Option only to the extent permitted by Sections 421, 422 and 424 of the Code and the regulations and other guidance thereunder. (b) Domestic Relations Orders. Notwithstanding the foregoing, your Option may be transferred pursuant to a domestic relations order issued by a court in the United States; provided, however, that if your Option is an Incentive Stock Option, your Option shall be deemed to be a Nonstatutory Stock Option as a result of such transfer. (c) Beneficiary Designation. Upon receiving written permission from Notwithstanding the Board or its duly authorized designee, foregoing, you may, by delivering written notice to the Company, in a form approved provided by or otherwise satisfactory to the Company and any broker designated by the Company to handle option exercises, Company, designate a third party who, on in the event of your death, will shall thereafter be entitled to exercise this option your Option and receive the Common Stock or other consideration resulting from such an Option exercise. In the absence of such a designation, your the executor or administrator of your estate will shall be entitled to exercise this option the Option and receive, on behalf of your estate, receive the Common Stock or other consideration resulting from such an Option exercise. If you reside outside the United States, the Company will not permit beneficiary designation unless it is valid under applicable law; if not valid, then any right to exercise your Option shall be in accordance with Section 9(a) above. View More
Transferability. Except Prior to the time that shares of Common Stock have been delivered to you, you may not transfer, pledge, sell or otherwise dispose of this Award or the shares issuable in respect of your Award, except as otherwise expressly provided in this Section 8, 5. For example, you may not use shares that may be issued in respect of your option Restricted Stock Units as security for a loan. The restrictions on transfer set forth herein will lapse upon delivery to you of shares in respect of your vest...ed Restricted Stock Units. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third party who, in the event of your death, will thereafter be entitled to receive any distribution of Common Stock to which you were entitled at the time of your death pursuant to this Award Agreement. In the absence of such a designation, your legal representative will be entitled to receive, on behalf of your estate, such Common Stock or other consideration. (a) Death. Your Award is not transferable, except transferable by will or and by the laws of descent and distribution, distribution. At your death, vesting of your Award will cease and is exercisable during your life only by you. (a) Certain Trusts. Upon receiving written permission from the Board executor or its duly authorized designee, you may transfer administrator of your option estate will be entitled to a trust if you are considered to be the sole beneficial owner (determined under Section 671 receive, on behalf of the Code and applicable state law) while the option is held in the trust. You and the trustee must enter into transfer and your estate, any Common Stock or other agreements required by the Company. consideration that vested but was not issued before your death. (b) Domestic Relations Orders. Upon receiving written permission from the Board or its duly authorized designee, and provided Provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your option right to receive the distribution of Common Stock or other consideration hereunder, pursuant to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument as permitted by Treasury Regulation 1.421-1(b)(2) that contains the information required by the Company to effectuate the transfer. You are encouraged to discuss the proposed terms of any division of this option Award with the Company General Counsel prior to finalizing the domestic relations order or marital settlement agreement 4. to verify that you may make such transfer, and if so, to help ensure the required information is contained within the domestic relations order or marital settlement agreement. If your option is an Incentive Stock Option, the option may be deemed to be a Nonstatutory Stock Option as a result of such transfer. (c) Beneficiary Designation. Upon receiving written permission from the Board or its duly authorized designee, you may, by delivering written notice to the Company, in a form approved by the Company and any broker designated by the Company to handle option exercises, designate a third party who, on your death, will thereafter be entitled to exercise this option and receive the Common Stock or other consideration resulting from such exercise. In the absence of such a designation, your executor or administrator of your estate will be entitled to exercise this option and receive, on behalf of your estate, the Common Stock or other consideration resulting from such exercise.View More
Transferability. Except Prior to the time that Ordinary Shares have been delivered to you, you may not transfer, pledge, sell or otherwise dispose of this Award or the shares issuable in respect of your Award, except as otherwise expressly provided in this Section 8, 5. For example, you may not use shares that may be issued in respect of your option Restricted Stock Units as security for a loan. The restrictions on transfer set forth herein will lapse upon delivery to you of shares in respect of your vested Rest...ricted Stock Units. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third party who, in the event of your death, will thereafter be entitled to receive any distribution of Ordinary Shares to which you were entitled at the time of your death pursuant to this Award Agreement. In the absence of such a designation, your legal representative will be entitled to receive, on behalf of your estate, such Ordinary Shares or other consideration. (a) Death. Your Award is not transferable, except transferable by will or and by the laws of descent and distribution, distribution. At your death, vesting of your Award will cease and is exercisable during your life only by you. (a) Certain Trusts. Upon receiving written permission from the Board executor or its duly authorized designee, you may transfer administrator of your option estate will be entitled to a trust if you are considered to be the sole beneficial owner (determined under Section 671 receive, on behalf of the Code and applicable state law) while the option is held in the trust. You and the trustee must enter into transfer and your estate, any Ordinary Shares or other agreements required by the Company. consideration that vested but was not issued before your death. (b) Domestic Relations Orders. Upon receiving written permission from the Board or its duly authorized designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your option right to receive the distribution of Ordinary Shares or other consideration hereunder, pursuant to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument as permitted by Treasury Regulation 1.421-1(b)(2) that contains the information required by the Company to effectuate the transfer. You are encouraged to discuss the proposed terms of any division of this option Award with the Company General Counsel prior to finalizing the domestic relations order or marital settlement agreement to verify that you may make such transfer, and if so, to help ensure the required information is contained within the domestic relations order or marital settlement agreement. If your option is an Incentive Stock Option, the option may be deemed to be a Nonstatutory Stock Option as a result of such transfer. (c) Beneficiary Designation. Upon receiving written permission from the Board or its duly authorized designee, you may, by delivering written notice to the Company, in a form approved by the Company and any broker designated by the Company to handle option exercises, designate a third party who, on your death, will thereafter be entitled to exercise this option and receive the Common Stock or other consideration resulting from such exercise. In the absence of such a designation, your executor or administrator of your estate will be entitled to exercise this option and receive, on behalf of your estate, the Common Stock or other consideration resulting from such exercise.View More
Transferability. Except as otherwise provided in this Section 8, your option 3, this Award is not transferable, except by will or by the laws of descent and distribution, distribution and is exercisable during your life only by you. prior to the time that the Performance Cash Bonus becomes payable in respect of this Award, you may not transfer, pledge, sell or otherwise dispose of any portion of the Performance Cash Bonus in respect of this Award. For example, you may not use any portion of the Performance Cash ...Bonus in respect of this Award as security for a loan, nor may you transfer, pledge, sell or otherwise dispose of such Award. This restriction on transfer will lapse upon issuance to you of the Performance Cash Bonus in respect of this Award. (a) Certain Trusts. Beneficiary Designation. Upon receiving written permission from the Board or its duly authorized designee, you may transfer your option may, by delivering written notice to the Company, in a trust if you are considered form approved by the Company to be effect transactions under the sole beneficial owner (determined under Section 671 of the Code and applicable state law) while the option is held Plan, designate a third party who, in the trust. You and event of your death, will thereafter be entitled to receive any distribution of cash or other consideration to which you were entitled at the trustee must enter into transfer and time of your death pursuant to this Agreement. In the absence of such a designation, in the event of your death, the executor or administrator of your estate will be entitled to receive, on behalf of your estate, such cash or other agreements required by the Company. consideration. (b) Domestic Relations Orders. Upon receiving written permission from the Board or its duly authorized designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your option right to receive any distribution of cash or other consideration under this Award, pursuant to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument as permitted by Treasury Regulation 1.421-1(b)(2) applicable law that contains the information required by the Company to effectuate the transfer. You are encouraged to discuss with the Company's General Counsel the proposed terms of any division of this option with the Company such transfer prior to finalizing the such domestic relations order or order, marital settlement agreement or other divorce or separation instrument to help ensure the required information is contained within the domestic relations order or order, marital settlement agreement. If your option is an Incentive Stock Option, the option may be deemed to be a Nonstatutory Stock Option as a result of such transfer. (c) Beneficiary Designation. Upon receiving written permission from the Board or its duly authorized designee, you may, by delivering written notice to the Company, in a form approved by the Company and any broker designated by the Company to handle option exercises, designate a third party who, on your death, will thereafter be entitled to exercise this option and receive the Common Stock agreement or other consideration resulting from such exercise. In the absence of such a designation, your executor divorce or administrator of your estate will be entitled to exercise this option and receive, on behalf of your estate, the Common Stock or other consideration resulting from such exercise. separation instrument. View More
Transferability. Except as otherwise provided in this Section 8, 10, your option is not transferable, transferable except by will or by the laws of descent and distribution, distribution and is exercisable during your life lifetime only by you. (a) Certain Trusts. Upon receiving written permission from you; provided, however, that the Board or may, in its duly authorized designee, sole discretion, permit you may to transfer your option to such extent as permitted by Rule 701, if applicable at the time of the gra...nt of the option and in a trust manner consistent with applicable tax and securities laws upon your request. Additionally, if your option is an Incentive Stock Option, the Board may permit you are considered to be transfer your option only to the sole beneficial owner (determined under Section 671 extent permitted by Sections 421, 422 and 424 of the Code and applicable state law) while the regulations and other guidance thereunder. Notwithstanding anything to the contrary in this Section 10 or otherwise in this Option Agreement, if at any period of time the Company is relying on Rule 12h-1(f), your option is held in transferrable during such period only to the trust. You and the trustee must enter into transfer and other agreements required by the Company. (b) extent permissible under Rule 12h-1(f). (a) Domestic Relations Orders. Upon receiving written permission from the Board or its duly authorized designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your option pursuant to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument as permitted by Treasury Regulation 1.421-1(b)(2) order that contains the information required by the Company to effectuate the transfer. You are encouraged to discuss the proposed terms of any division of this option with the Company prior to finalizing the domestic relations order or marital settlement agreement to help ensure the required information is contained within the domestic relations order or marital settlement agreement. order. If your this option is an Incentive Stock Option, the this option may be deemed to be a Nonstatutory Stock Option as a result of such transfer. (c) Beneficiary Designation. Upon receiving written permission from the Board or its duly authorized designee, you may, by delivering written notice to the Company, in a form approved by the Company and any broker designated by the Company to handle option exercises, designate a third party who, on your death, will thereafter be entitled to exercise this option and receive the Common Stock or other consideration resulting from such exercise. In the absence of such a designation, your executor or administrator of your estate will be entitled to exercise this option and receive, on behalf of your estate, the Common Stock or other consideration resulting from such exercise.View More
