Common use of Nontransferability of SARs Clause in Contracts

Nontransferability of SARs. During the lifetime of the Participant, an SAR shall be exercisable only by the Participant or the Participant?s guardian or legal representative. Prior to the exercise of an SAR, the SAR shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the Participant?s beneficiary, except transfer by will or by the laws of descent and distribution.

Nontransferability of SARs. During the lifetime of the Participant, an a SAR shall be exercisable only by the Participant or the Participant?s Participant’s guardian or legal representative. Prior to the exercise of an a SAR, the SAR shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the Participant?s Participant’s beneficiary, except transfer by will or by the laws of descent and distribution.

Nontransferability of SARs. During the lifetime of the Participant, an SAR shall be exercisable only by the Participant or the Participant?s Participant’s guardian or legal representative. Prior to the exercise of an SAR, the SAR shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the Participant?s Participant’s beneficiary, except transfer by will or by the laws of descent and distribution.