Transferability Clause Example from Business Contracts

Transferability. Unless otherwise determined by the Committee, a Cash Award may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant otherwise than by will or by the laws of descent and distribution, and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate; provided that the designation of a beneficiary shall not constitute an assignment, alienation..., pledge, attachment, sale, transfer or encumbrance. View More