name / content / group

content: 580336

name: No Assignment

NO ASSIGNMENT. Except as otherwise provided herein, the Non Statutory Stock Option and the rights and privileges conferred hereby may not be transferred, assigned, pledged, hypothecated or encumbered, and shall not be subject to execution, attachment, garnishment or other similar legal processes. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise encumber or dispose of the Non Statutory Stock Option, the Non Statutory Stock Option and the rights and privileges conferred hereunder shall immediately become null and void. This option may be exercised during the lifetime of the Executive only by the Executive; provided, however, that if the Executive is declared legally incompetent, the Executive's duly appointed legal representative may exercise the Non Statutory Stock Option granted hereunder in the manner and to the extent that the Executive is entitled to exercise the option hereunder.
No Assignment. Except as otherwise provided herein, a replacement stock option and the rights and privileges conferred hereby may not be transferred, assigned, pledged, hypothecated or encumbered, and shall not be subject to execution, attachment, garnishment or other similar legal processes. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise encumber or dispose of a replacement stock option, such option and the rights and privileges conferred hereunder shall immediately become null and void. A replacement stock option may be exercised during the lifetime of the Participant only by the Participant; provided, however, that if the Participant is declared legally incompetent, the Employee's duly appointed legal representative may exercise such option in the manner and to the extent that the Employee was entitled to exercise such option on the date on which the Employee was declared incompetent.