Common use of Executive Assignment Clause in Contracts

Executive Assignment. No interest of Executive, his or her spouse or any Beneficiary, or any other beneficiary under any Retirement Plan, Welfare Plan or Incentive Plan, or under this Agreement, or any right to receive any payment or distribution hereunder, shall be subject in any manner to sale, transfer, assignment, pledge, attachment, garnishment, or other alienation or encumbrance of any kind, nor may such interest or right to receive a payment or distribution be taken, voluntarily or involuntarily, for the satisfaction of the obligations or debts of, or other claims against, Executive or his or her spouse, Beneficiary or other beneficiary, including claims for alimony, support, separate maintenance, and claims in bankruptcy proceedings.