Transferability Clause Example from Business Contracts

This example Transferability clause appears in 4 contracts from 2 companies

Transferability. Neither payroll deductions credited to a Participant's account nor any rights with regard to the exercise of an option or to receive Shares under the Plan may be assigned, transferred, pledged, or otherwise disposed of in any way by the Participant (other than by will, the laws of descent and distribution, or as provided in Section 15 of the Plan). Any such attempt at assignment, transfer, pledge, or other disposition shall be without effect, except that the Company may treat such act as an elec...tion to withdraw funds from an Offering Period in accordance with Section 10 of the Plan. View More