This excerpt taken from the CBRX DEF 14A filed Apr 8, 2008.
15. Nontransferability. Each Award granted under the Plan to a participant (other than unrestricted stock Awards and vested Restricted Stock Awards) shall not be transferable otherwise than by will or the laws of descent and distribution, and shall be exercisable, during the participant’s lifetime, only by the participant. In the event of the death of a participant, each Stock Option or Stock Appreciation Right theretofore granted to him or her shall be exercisable for a period of one (1) year after his or her death and only by the executor or administrator of the estate of the deceased participant or the person or persons to whom the deceased participant’s rights under the Stock Option or Stock Appreciation Right shall pass by will or the laws of descent and distribution or beneficiary designation. Notwithstanding the foregoing, at the discretion of the Committee, a grant of an Award other than an Incentive Stock Option may permit the transferability of an Award by a participant solely to the participant’s spouse, siblings, parents, children, and grandchildren or trusts for the benefit of such persons or partnerships, corporations, limited liability companies, or other entities owned solely by such persons, including trusts for such persons, subject to any restriction included in the grant of the Award.