Option Nontransferable. The Option granted hereby shall be neither transferable nor assignable by the Participant except by will or by the laws of descent and distribution and may be exercised, during the lifetime of the Participant, only by the Participant, or in the event of his or her legal incapacity, by his or her guardian or legal representative acting on behalf of the Participant in a fiduciary capacity under state law and court supervision.
Appears in 3 contracts
Sources: Stock Option Agreement (THUMZUP MEDIA Corp), Incentive Stock Option Agreement (SKYX Platforms Corp.), Stock Option Agreement (MassRoots, Inc.)
Option Nontransferable. The Participant may not transfer or assign all or any part of the Option granted hereby shall be neither transferable nor assignable by the Participant except other than by will or by the laws of descent and distribution and distribution. The Option may be exercised, during the lifetime of the Participant, only by the Participant, or in the event of his or her the Participant’s legal incapacity, by his or her the Participant’s guardian or legal representative acting on behalf of the Participant in a fiduciary capacity under state law and court supervision.
Appears in 3 contracts
Sources: Option Agreement (Chuy's Holdings, Inc.), Option Agreement (Chuy's Holdings, Inc.), Option Agreement (Chuy's Holdings, Inc.)