Common use of Transfer and Termination Clause in Contracts

Transfer and Termination. Optionee may not sell, pledge, assign, hypothecate, trans­fer, or otherwise dispose of all or any portion of the Option other than by will or the laws of descent and distribu­tion.

Appears in 3 contracts

Sources: Option Agreement (SmartMetric, Inc.), Stock Option Agreement (Carbon Sciences, Inc.), Stock Option Agreement (Carbon Sciences, Inc.)