JCPenney 2015 Annual Report Download - page 150
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such persons may be entitled under the Company’s
Certificate of Incorporation, By-laws, by contract, as a matter
of law, or otherwise.
Transferability of Your Non-Qualified Stock Option . No
vested or unvested Non-Qualified Stock Option that is the
subject of this Notice may be assigned or transferred other
than by will or the laws of descent and distribution or by such
other means and on such terms as the Company, in its
discretion, may approve from time to time, and no Non-
Qualified Stock Option will be exercisable during Your lifetime
except by You or Your guardian or legal representative, or
other such third party as the Company may determine.
Cessation of Obligation. The Company's liability will be
defined only by this Notice. Upon distribution to You of all
shares of Common Stock due under this Notice, all
responsibilities and obligations of the Company will be fulfilled
and You will have no further claims against the Company for
further performance under this Notice.
Effect on Other Benefits. The value of the shares of
Common Stock covered by this Non-Qualified Stock Option
award will not be included as compensation or earnings for
purposes of any other compensation, Retirement, or benefit
plan offered to Company associates.