Intel 2002 Annual Report Download - page 78

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subject to adjustment pursuant to Section 8. Any Stock Units that are settled after the holder’s death shall be distributed to the
holder’s designated beneficiary(s) or, if none was designated, the holder’s estate.
(e)
Transferability of Option
: Unless otherwise provided by the Committee and subject to the establishment of procedures by the
Committee, each option shall be transferable only:
(1)
by will or the laws of descent and distribution, or
(2)
by gift to the Immediate Family, partnerships whose only partners are the Participant or members of the Immediate
Family, limited liability companies whose only shareholders are the Participant or members of the Immediate Family,
and trusts established solely for the benefit of the Participant or members of the Immediate Family.
The transferees described in this subsection ((e)) of Section 6 shall be referred to as “Permitted Transferees”.
Options are transferable only to the extent the options are exercisable at the time of transfer. Any purported assignment,
transfer or encumbrance that does not qualify under subsections (1) and (2) above shall be void and unenforceable against the
Corporation.
The terms of stock options granted pursuant to this Plan shall apply to the beneficiaries, executors and administrators of the
Participant and to Permitted Transferees (including the beneficiaries, executors and administrators of Permitted Transferees),
including the right to agree to any amendment of the applicable option agreement, except that options transferred to Permitted
Transferees shall not be transferable except by will or the laws of descent and distribution.
(f)
Cancellation : The Committee may, at any time prior to exercise and subject to consent of the Participant, cancel any option
previously granted and may or may not substitute in its place an option at a different price and different type under different
terms or in different amounts.
(g)
Other Terms and Conditions
: Options may also contain such other provisions, which shall not be inconsistent with any of the
foregoing terms, as the Committee shall deem appropriate. No option, however, nor anything contained in the Plan shall
confer upon any Participant any right to continue in the Corporation’s employ or service nor limit in any way the Corporation’
s
right to terminate his or her employment or service at any time. Option grants may be evidenced by a written agreement
and/or such other written arrangements as may be approved from time to time by the Committee.
5.