Non-Transferability of SAR. The SAR, or any portion thereof, is not transferable except as designated by the Participant by will or by the laws of descent and distribution or pursuant to a domestic relations order. Except as provided in the immediately preceding sentence, the SAR shall not be assigned, transferred, pledged, hypothecated, or otherwise disposed of by the Participant in any way, whether by operation of law or otherwise, and shall not be subject to execution, attachment, or similar process. Any attempt at assignment, transfer, pledge, hypothecation, or other disposition of the SAR contrary to the provisions hereof, or the levy of any attachment or similar process upon the SAR, shall be null and void and without effect.
Appears in 4 contracts
Samples: Stock Appreciation Right Award Agreement (County Bancorp, Inc.), Stock Appreciation Right Award Agreement (Level One Bancorp Inc), Stock Appreciation Right Award Agreement (West Bancorporation Inc)
