Transfer Restrictions Clause Example from Business Contracts

This example Transfer Restrictions clause appears in 2 contracts from 1 company

Transfer Restrictions. The Award and the PSUs are non-transferable and may not be assigned, hypothecated or otherwise pledged and shall not be subject to execution, attachment or similar process. 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 7 below.
Found in Philip Morris International contract
Philip Morris International Contracts

PHILIP MORRIS INTERNATIONAL INC. 2012 PERFORMANCE INCENTIVE PLAN PERFORMANCE SHARE UNIT AGREEMENT FOR PHILIP MORRIS INTERNATIONAL INC. COMMON STOCK (February 2, 2017) Performance... (Filed With SEC on February 7, 2017)

PHILIP MORRIS INTERNATIONAL INC. 2012 PERFORMANCE INCENTIVE PLAN PERFORMANCE SHARE UNIT AGREEMENT FOR PHILIP MORRIS INTERNATIONAL INC. COMMON STOCK (February 4, 2016) Performance... (Filed With SEC on February 9, 2016)