Restrictions on Transfer and Pledge. The Option may not be pledged, encumbered, or hypothecated to or in favor of any party other than the Company or a Parent or Subsidiary, or be subject to any lien, obligation, or liability of the Optionee to any other party other than the Company or a Parent or Subsidiary. The Option is not assignable or transferable by the Optionee other than by will or the laws of descent and distribution. The Option may be exercised during the lifetime of the Optionee only by the Optionee.
Appears in 33 contracts
Sources: Stock Option Agreement (UDR, Inc.), Incentive Stock Option Agreement, Incentive Stock Option Agreement (Crescent Banking Co)
Restrictions on Transfer and Pledge. The Option may not be pledged, encumbered, or hypothecated to or in favor of any party other than the Company Corporation or a Parent or Subsidiary, or be subject to any lien, obligation, or liability of the Optionee to any other party other than the Company Corporation or a Parent or Subsidiary. The Option is not assignable or transferable by the Optionee other than by will or the laws of descent and distribution. The Option may be exercised during the lifetime of the Optionee only by the Optionee.
Appears in 3 contracts
Sources: Employment Agreement (Rare Hospitality International Inc), Employment Agreement (Rare Hospitality International Inc), Employment Agreement (Rare Hospitality International Inc)