Transfer Restrictions Clause Example from Business Contracts

Transfer Restrictions. The Award and the PSUs issuable thereunder are non-transferable and may not be assigned, hypothecated, pledged or otherwise disposed of and shall not be subject to execution, attachment or similar process or otherwise encumbered. Upon any attempt to effect any such disposition, or upon the levy of any such process, the Award shall immediately become null and void and the PSUs shall be forfeited. These restrictions shall not apply, however, to any payments received pursuant to Section 8 of this A...greement below. View More