Non‐Assignability Clause Example with 4 Variations from Business Contracts

This page contains Non‐Assignability clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Non‐Assignability. Upon the Participant's death, the Performance Units may be transferred by will or by the laws governing the descent and distribution of the Participant's estate. Otherwise, the Participant may not sell, transfer, assign, pledge or otherwise encumber any portion of the Performance Units, and any attempt to sell, transfer, assign, pledge, or encumber any portion of the Performance Units shall have no effect.
Found in Marathon Petroleum contract

Variations of a "Non‐Assignability" Clause from Business Contracts

Non‐Assignability. Upon the Participant's Grantee's death, the Performance Share Units may be transferred by will or by the laws governing the descent and distribution of the Participant's Grantee's estate. Otherwise, the Participant Grantee may not sell, transfer, assign, pledge or otherwise encumber any portion of the Performance Share Units, and any attempt to sell, transfer, assign, pledge, or encumber any portion of the Performance Share Units shall have no effect.
Found in PBF Energy Inc contract
Non‐Assignability. Upon the Participant's death, the Performance Units may shall be transferred by will or by the laws governing the descent and distribution paid out as provided in Paragraph 6 of the Participant's estate. this Award Agreement. Otherwise, the Participant may not sell, transfer, assign, pledge or otherwise encumber any portion of the Performance Units, and any attempt to sell, transfer, assign, pledge, or encumber any portion of the Performance Units shall have no effect.
Found in Marathon Oil Corp. contract
Non‐Assignability. Upon the Participant's Grantee's death, the Performance Units may be transferred by will or by the laws governing the descent and distribution of the Participant's Grantee's estate. Otherwise, the Participant Grantee may not sell, transfer, assign, pledge or otherwise encumber any portion of the Performance Units, and any attempt to sell, transfer, assign, pledge, or encumber any portion of the Performance Units shall have no effect.
Found in PBF Energy Inc contract
Non‐Assignability. Upon the Participant's death, the Performance Share Units may be transferred by will or by the laws governing the descent and distribution of the Participant's estate. Otherwise, the Participant may not sell, transfer, assign, pledge or otherwise encumber any portion of the Performance Share Units, and any attempt to sell, transfer, assign, pledge, or encumber any portion of the Performance Share Units shall have no effect.
Found in Marathon Petroleum contract