Common use of Disposal of Rights Clause in Contracts

Disposal of Rights. Neither the Employee, nor any person claiming under the Employee, shall have the power to anticipate, encumber or dispose of any right, title, interest or benefit hereunder in any manner or any time, until the same shall have been actually distributed free and clear of the terms of this Agreement Characterization of Payments. In the event that Employee receives any Retention Payment pursuant to Subsection 2A, any severance that may also be paid to Employee pursuant to the Portland General Holdings, Inc. Involuntary Severance Plan at the time of such termination shall be reduced by an amount equal to such Retention Payment. The payments under this Agreement are neither intended nor should be construed as being additions to base salary or included in calculations of benefits, salary increase, or other bonus payments.