Common use of Limitations on Option Shares Clause in Contracts

Limitations on Option Shares. Unless and until a Public Sale, the Participant shall be subject to the provisions of Section 9 and no transfer of the Option Shares to a third party prior to a Public Sale shall be permitted unless the transferee(s) of the Option Shares agrees in writing to be bound by the provisions of Section 9.

Appears in 2 contracts

Sources: Nonqualified Stock Option Award (Global Aviation Holdings Inc.), Incentive Stock Option Award (Global Aviation Holdings Inc.)

Limitations on Option Shares. Unless and until a Public Sale, the Participant shall be subject to the provisions of Section 9 8 and no transfer of the Option Shares to a third party prior to a Public Sale shall be permitted unless the transferee(s) of the Option Shares agrees in writing to be bound by the provisions of Section 98.

Appears in 1 contract

Sources: Nonqualified Stock Option Award (Global Aviation Holdings Inc.)