Restrictions on Exercise Non Transferability of Options Clause Samples

The "Restrictions on Exercise; Non-Transferability of Options" clause defines the limitations placed on how and when stock options can be exercised and prohibits the transfer of those options to others. Typically, this clause specifies that only the original grantee may exercise the options, and may outline certain conditions or timeframes under which exercise is permitted, such as vesting schedules or employment status requirements. Its core practical function is to ensure that options remain a personal incentive for the grantee and to prevent unauthorized or unintended transfers, thereby maintaining control and alignment with the company's compensation objectives.
Restrictions on Exercise Non Transferability of Options. Repurchase of Options. ---------------------
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Restrictions on Exercise Non Transferability of Options. Repurchase of Options. --------------------- (a) Restrictions on Exercise. Once vested in accordance with the ------------------------ provisions of this Agreement, the Options may be exercised only with respect to full shares of Common Stock. No fractional shares of Common Stock shall be issued. Notwithstanding any other provision of this Agreement, the Options may not be exercised in whole or in part, and no certificates representing Shares shall be delivered, (i) (A) unless all requisite approvals and consents of any - - governmental authority of any kind having jurisdiction over the exercise of the Options, the delivery of the Shares upon exercise of the Options or the issuance of the Shares to the Company pursuant to the Holding Warrant shall have been secured, (B) unless the purchase of the Shares upon the exercise - of the Options shall be exempt from registration under applicable U.S. federal and state securities laws, and applicable non-U.S. securities laws, or the purchase of the Shares shall have been registered under such laws, and (C) - unless all applicable U.S. federal, state and local and non-U.S. tax withholding requirements shall have been satisfied or (ii) if such exercise would result in -- a violation of the terms or provisions of or a default or an event of default by Holding or any of its Subsidiaries under any of the Financing Agreements.
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Restrictions on Exercise Non Transferability of Options 
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Related to Restrictions on Exercise Non Transferability of Options

  • Non-Transferability of Options The Option may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Optionee, only by the Optionee.

  • Non-Transferability of Option This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Optionee only by Optionee. The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

  • Non-Transferability of Award The Award, or any portion thereof, is not transferable except as designated by the Participant by will or by the laws of descent and distribution or pursuant to a domestic relations order. Except as provided in the immediately preceding sentence, the Award shall not be assigned, transferred, pledged, hypothecated or otherwise disposed of by the Participant in any way whether by operation of law or otherwise, and shall not be subject to execution, attachment or similar process. Any attempt at assignment, transfer, pledge, hypothecation or other disposition of the Award contrary to the provisions hereof, or the levy of any attachment or similar process upon the Award, shall be null and void and without effect.

  • Transferability of Options During the lifetime of an Optionee, only such Optionee (or, in the event of legal incapacity or incompetency, the Optionee’s guardian or legal representative) may exercise the Option. No Option shall be assignable or transferable by the Optionee to whom it is granted, other than by will or the laws of descent and distribution.

  • Non-Transferability of RSUs Unless otherwise provided by the Committee in its discretion, RSUs may not be sold, assigned, alienated, transferred, pledged, attached or otherwise encumbered except as provided in Section 9(a) of the Plan. Any purported sale, assignment, alienation, transfer, pledge, attachment or other encumbrance of RSUs in violation of the provisions of this Section 6 and Section 9(a) of the Plan shall be void.