Limited Transferability of Awards Clause Example from Business Contracts

This example Limited Transferability of Awards clause appears in 4 contracts from 4 companies

Limited Transferability of Awards. Unless determined otherwise by the Administrator, Awards may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent and distribution (which, for purposes of clarification, shall be deemed to include through a beneficiary designation if available in accordance with Section 6.6.4), and may be exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award transferable, such... Award will contain such additional terms and conditions as the Administrator deems appropriate. View More Arrow