Nontransferability of Awards Clause Example from Business Contracts

This example Nontransferability of Awards clause appears in 2 contracts from 1 company

Nontransferability of Awards. Except as provided in Section 5 or otherwise permitted by the Committee, you may not sell, transfer, pledge, assign or otherwise alienate or hypothecate any of your Stock Options, and all rights with respect to your Stock Options are exercisable during your lifetime only by you.