(1) A stock option under Article 340-2 (1) may be exercised only when the stock optionee holds office or post in the company for more than two years from the date when the matters listed in the subparagraphs of Article 340-3 (2) are determined by a resolution of a general meeting of shareholders.
(2) A stock option referred to in Article 340-2 (1) shall not be transferable: in the case of death of the optionee entitled to exercise the stock option, his/her heir thereto may exercise it.[This Article Newly Inserted by Act No. 6086, Dec. 31, 1999]