Common use of Certain Transfers Permitted Clause in Contracts

Certain Transfers Permitted. Notwithstanding the foregoing provisions of this Section 3, the Restricted Shares, even though not vested, and this option, whether or not vested, may be Transferred in the event of the Grantee’s death, by will or the laws of descent and distribution or by a written beneficiary designation accepted by the Company upon authorization of the Board of Directors, and as otherwise permitted under the Plan; provided, however, that in any such case the Restricted Shares and the option so Transferred shall remain subject in the hands of the transferee to the restrictions on Transfer provided hereby and all other terms hereof.

Certain Transfers Permitted. Notwithstanding the foregoing provisions of this Section 3, the Restricted Shares, even though not vested, and this option, whether or not vested, may be Transferred in the event of the Grantee’s death, by will or the laws of descent and distribution or by a written beneficiary designation accepted by the Company upon authorization of the Board of Directors, and as otherwise permitted under the Plan; provided, however, that in any such case the Restricted Shares and the option so Transferred shall remain subject in the hands of the transferee to the restrictions on Transfer provided hereby and all other terms hereof.