Common use of Limited Transferability of Options Clause in Contracts

Limited Transferability of Options. The Option may be transferred by the Employee to a Permitted Transferee, as defined in the Plan, provided that there cannot be any consideration for the transfer. Options transferred to Permitted Transferees will remain subject to the terms and conditions of the Plan and the stock option agreement as if the Employee still held such options. References herein to option "Holder" shall mean the Employee or a Permitted Transferee.

Limited Transferability of Options. The Option may be transferred by the Employee to a Permitted Transferee, as defined in the Plan, provided that there cannot be any consideration for the transfer. Options transferred to Permitted Transferees will remain subject to the terms and conditions of the Plan and the stock option agreement as if the Employee still held such options. References herein to option "“Holder" ” shall mean the Employee or a Permitted Transferee.