Transferability of Awards Clause Example from Business Contracts

This example Transferability of Awards clause appears in 4 contracts from 3 companies

Transferability of Awards. Unless determined otherwise by the Administrator, an Award may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award transferable, such Award will contain such additional terms and conditions as the Administrator deems appropriate. Notwithstanding anything to the contrary in the Pl...an, in no event will the Administrator have the right to determine and implement the terms and conditions of any Award Transfer Program without stockholder approval. View More