Common use of Restrictions on Transfer of Option Shares Clause in Contracts

Restrictions on Transfer of Option Shares. The Optionee may not sell, pledge, or otherwise transfer any interest in any Option Shares without the prior written consent of the Company. If the Optionee or anyone claiming under or through the Optionee attempts to violate this Section 6(a), such attempted violation shall be null, void, and without effect. The Optionee acknowledges that the Option Shares will also be subject to the provisions of the Stockholders Agreement.

Appears in 3 contracts

Sources: Common Stock Iso Agreement (Osullivan Industries Holdings Inc), Director Common Stock Option Agreement (Osullivan Industries Holdings Inc), Common Stock Iso Agreement (Osullivan Industries Holdings Inc)