Non‐Assignability Contract Clauses (409)
Grouped Into 24 Collections of Similar Clauses From Business Contracts
This page contains Non‐Assignability clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Non‐Assignability. Neither payroll deductions credited to a Participant's account nor any rights with regard to the exercise of an option or to receive shares under this Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution or as provided in Section 22 below) by the Participant. Any such attempt at assignment, transfer, pledge or other disposition will be void and without effect. 8 16. Use of Participant Funds and Reports. The Compa
...ny may use all payroll deductions received or held by it under the Plan for any corporate purpose, and the Company will not be required to segregate Participant payroll deductions (except to the extent required due to local legal requirements outside the United States). Until shares are issued, Participants will only have the rights of an unsecured creditor (except to the extent required due to local legal requirements outside the United States). Each Participant will receive, or have access to, promptly after the end of each Purchase Period a report of his or her account setting forth the total payroll deductions accumulated, the number of shares purchased, the Purchase Price thereof and the remaining cash balance, if any, carried forward or refunded, as determined by the Committee, to the next Purchase Period or Offering Period, as the case may be.
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Non‐Assignability. Neither
payroll deductions Contributions credited to a Participant's account nor any rights with regard to the exercise of an option or to receive
shares Shares under this Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution or as provided in Section 22 below) by the Participant. Any such attempt at assignment, transfer, pledge or other disposition
will shall be void and without effect.
8 6 16.
Use of Participa...nt Funds and Reports. USE OF PARTICIPANT FUNDS AND REPORTS; STOCKHOLDER RIGHTS. The Company may use all payroll deductions Contributions received or held by it under the Plan for any corporate purpose, and the Company will not be required to segregate Participant payroll deductions Contributions (except to the extent required due to local legal requirements outside the United States). Until shares Shares are issued, Participants will only have the rights of an unsecured creditor (except to the extent unless otherwise required due to under local legal requirements outside the United States). law. Each Participant will shall receive, or have access to, promptly after the end of each Purchase Period a report of his or her account setting forth the total payroll deductions Contributions accumulated, the number of shares Shares purchased, the Purchase Price per share price thereof and the remaining cash balance, if any, carried forward or refunded, as determined by the Committee, to the next Purchase Period or Offering Period, as the case may be. Until the Shares are issued, a Participant will have no right to vote or receive dividends and no other stockholder rights will exist with respect to the Shares.
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Non‐Assignability. A Participant shall have no right to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber, transfer, hypothecate, alienate or convey in advance of actual receipt, the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to which are expressly declared to be, unassignable and non-transferable. No part of the amounts payable shall, prior to actual payment, be subject to seizure, attachment, garnishment (except to the extent the Company m
...ay be required to garnish amounts from payments due under the Plan pursuant to applicable law) or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant or any other person, be transferable by operation of law in the event of a Participant's or any other person's bankruptcy or insolvency or be transferable to a spouse as a result of a property settlement or otherwise.
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Non‐Assignability.
A Neither any Participant
nor any other person shall have
no any right to commute, sell, assign, transfer, pledge, anticipate,
mortgage mortgage, or otherwise encumber, transfer, hypothecate,
alienate alienate, or convey in advance of actual receipt, the amounts, if any, payable hereunder, or any part
thereof, hereof, which are, and all rights to which are expressly declared to be, unassignable and non-transferable. No part of the amounts payable shall, prior to actual payment, be subject to sei
...zure, attachment, garnishment (except to the extent the Company may be required to garnish amounts from payments due under the Plan pursuant to applicable law) or sequestration for the payment of any debts, judgments, alimony judgments , alimony, or separate maintenance owed by a Participant or any other person, be transferable by operation of law in the event of a Participant's or any other person's bankruptcy or insolvency insolvency, or be transferable to a spouse as a result of a property settlement or otherwise. If any Participant, Beneficiary, or successor in interest is adjudicated bankrupt or purports to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber transfer, hypothecate, alienate, or convey in advance of actual receipt, theamount, if any, payable hereunder, or any part thereof, the Plan Administrator, in its discretion, may cancel such distribution or payment (or any part thereof) to or for the benefit of such Participant, Beneficiary, or successor in interest in such manner as the Plan Administrator shall direct.
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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. 5 15. No Employment Guaranteed. Nothing in this Award Agreement shall give the Participant
... any rights to (or impose any obligations for) continued Employment by the Corporation or any affiliate thereof or successor thereto, nor shall it give such entities any rights (or impose any obligations) with respect to continued performance of duties by the Participant.
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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, pledge or encumber any portion of the Performance Units shall have no effect.
5 15. 8 2019 Plan –... Section 16 Officer FCF PSU with 2-year cliff vesting (2022 grant) 14. No Employment Guaranteed. Nothing in this Award Agreement shall give the Participant theParticipant any rights to (or impose any obligations for) continued Employment by the Corporation or any affiliate thereof Subsidiary or successor thereto, nor shall it give such entities any rights (or impose any obligations) with respect to continued performance of duties by the Participant.
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Non‐Assignability. Upon the Participant's death, the Phantom Units credited to the Participant under this Award Agreement shall be transferred to the Participant's estate and upon such transfer settled in Units of the Partnership. Otherwise, the Participant may not sell, transfer, assign, pledge or otherwise encumber any portion of the Phantom Units, and any attempt to sell, transfer, assign, pledge or encumber any portion of the Phantom Units shall have no effect.
Non‐Assignability. Upon the Participant's death, the Phantom Units credited to the Participant under this Award
Agreement shall be transferred
to the Participant's beneficiary as designated under the Marathon Petroleum Deferred Compensation Plan for Non-Employee Directors, or if no such beneficiary designation has been executed by Participant, to the Participant's estate and upon such transfer settled in
Common Units of the Partnership. Otherwise, the Participant may not sell, transfer, assign, pledge or otherwise
... encumber any portion of the Phantom Units, and any attempt to sell, transfer, assign, pledge pledge, or encumber any portion of the Phantom Units shall have no effect.
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Non‐Assignability. Upon the Participant's death, the Phantom Units credited to the Participant under this Award
Agreement shall be transferred
to the Participant's beneficiary as designated under the Marathon Petroleum Deferred Compensation Plan for Non-Employee Directors, or if no such beneficiary designation has been executed by Participant, to the Participant's estate and upon such transfer settled in
Common Units of the Partnership. Otherwise, the Participant may not sell, transfer, assign, pledge or otherwise
... encumber any portion of the Phantom Units, and any attempt to sell, transfer, assign, pledge pledge, or encumber any portion of the Phantom Units shall have no effect.
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Non‐Assignability. Upon the Participant's death, the Restricted Stock Units (or Shares payable in respect thereof) and the Dividend Equivalent Rights shall be transferred to the Participant's estate. Otherwise, the Participant may not sell, transfer, assign, pledge or otherwise encumber any portion of the Restricted Stock Units (or Shares payable in respect thereof) or the Dividend Equivalent Rights, and any attempt to sell, transfer, assign, pledge or encumber any portion of the Restricted Stock Units (or Shares
...Payable in respect thereof) or the Dividend Equivalent Rights shall have no effect.
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Non‐Assignability. Upon the Participant's death, the Restricted Stock Units (or Shares payable in respect thereof) and the Dividend
Equivalent Rights Equivalents shall be transferred to the Participant's
estate. designated beneficiary, personal representative or estate as provided in Paragraph 8. Otherwise, the Participant may not sell, transfer, assign, pledge or otherwise encumber any portion of the Restricted Stock Units (or Shares payable in respect thereof) or the Dividend
Equivalent Rights, Equivalents, and
...any attempt to sell, transfer, assign, pledge or encumber any portion of the Restricted Stock Units (or Shares Payable payable in respect thereof) or the Dividend Equivalent Rights Equivalents shall have no effect.
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Non‐Assignability. The Grantee's rights and interest in the Performance Shares may not be sold, transferred, assigned, pledged, exchanged, hypothecated or otherwise disposed of except by will or the laws of descent and distribution.
Non‐Assignability. The Grantee's rights and interest in the
Performance Awarded Shares may not be sold, transferred, assigned, pledged, exchanged, hypothecated or otherwise disposed of
prior to vesting except by will or the laws of descent and distribution.
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Non‐Assignability. Neither this Agreement nor any right or interest hereunder shall be assignable by Executive, his beneficiaries, dependents or legal representatives without the Company's prior written consent; provided, however, that nothing in this Section 12 shall preclude (a) Executive from designating a beneficiary to receive any benefit payable hereunder upon his death, or (b) the executors, administrators or other legal representatives of Executive or his estate from assigning any rights hereunder to the p
...erson or persons entitled thereto. William Kerby Employment Agreement Page 8 of 13 13. Amendments to this Agreement. Except for increases in the Base Salary and other compensation made as provided in Section 3, this Agreement may not be modified or amended except by an instrument in writing signed by the Executive and the Company. No change in Base Salary or other compensation made as provided in Section 3 will operate as an amendment, cancellation or termination of this Agreement.
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Non‐Assignability. Neither this Agreement nor any right or interest hereunder shall be assignable by Executive, his beneficiaries, dependents or legal representatives without the Company's prior written consent; provided, however, that nothing in this Section
12 11 shall preclude (a) Executive from designating a beneficiary to receive any benefit payable hereunder upon his death, or (b) the executors, administrators or other legal representatives of Executive or his estate from assigning any rights hereunder to th
...e person or persons entitled thereto. William Kerby Employment Agreement - CFO Page 8 of 13 13. 12. Amendments to this Agreement. Except for increases in the Base Salary and other compensation made as provided in Section 3, this Agreement may not be modified or amended except by an instrument in writing signed by the Executive and the Company. No change increase in the Base Salary or other compensation made as provided in Section 3 will operate as an amendment, a cancellation or termination of this Agreement.
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Non‐Assignability. Benefits under the Plan may not be assigned by the Participant. The terms and conditions of the Plan shall be binding on the successors and assigns of the Company.
Non‐Assignability. Benefits under the Plan may not be assigned by the Participant. The terms and conditions of the Plan shall be binding on the successors and assigns of the
Company. Corporation.
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Non‐Assignability. During the Optionee's lifetime, the Option may be exercised only by the Optionee or by the Optionee's guardian or legal representative. Upon the Optionee's death, the Option shall be transferred to the Optionee's estate. Otherwise, the Optionee may not sell, transfer, assign, pledge or otherwise encumber any portion of the Option, and any attempt to sell, transfer, assign, pledge or encumber any portion of the Option shall have no effect.
Non‐Assignability. During the Optionee's lifetime, the Option may be exercised only by the Optionee or by the Optionee's guardian or legal representative. Upon the Optionee's death, the Option shall be transferred to the Optionee's
designated beneficiary on file with the Plan's third party stock plan administrator or, if none, to the Optionee's estate. Otherwise, the Optionee may not sell, transfer, assign, pledge or otherwise encumber any portion of the Option, and any attempt to sell, transfer, assign,
pledge pl...edge, or encumber any portion of the Option shall have no effect.
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Non‐Assignability. Neither this Agreement nor any right or interest hereunder shall be assignable by the Executive, his beneficiaries or his legal representatives without the Company's and the Bank's prior written consent; provided, however, that nothing in this Section 7 shall preclude (a) the Executive from designating a beneficiary to receive any benefits payable hereunder upon his death, or (b) the executors, administrators, or other legal representatives of the Executive or his estate from assigning any right
...s hereunder to the person or persons entitled thereto.
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Non‐Assignability. Neither this Agreement nor any right or interest hereunder shall be assignable by the
Executive, Employee, his beneficiaries or
his legal representatives without the
Company's and the Bank's Employer's prior written consent; provided, however, that nothing in this Section 7 shall preclude
(a) (i) the
Executive Employee from designating a beneficiary to receive any benefits payable hereunder upon his
death, death or
(b) (ii) the executors,
administrators, administrators or other legal representat
...ives of the Executive Employee or his estate from assigning any rights hereunder hereunto to the person or persons entitled thereto.
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