Common use of Nontransferability of Award Clause in Contracts

Nontransferability of Award. The Award may not be transferred by the Employee other than by will or the laws of descent and distribution, pursuant to the designation of one or more beneficiaries on the form prescribed by the Company, a trust or entity established by the Employee for estate planning purposes, or a charitable organization designated by the Employee or pursuant to a qualified domestic relations order, in each case, without consideration. Except to the extent permitted by the foregoing sentence, the Award may not be sold, transferred, assigned, pledged, hypothecated, encumbered, or otherwise disposed of (whether by operation of law or otherwise) or be subject to execution, attachment, or similar process. Upon any attempt to so sell, transfer, assign, pledge, hypothecate, encumber, or otherwise dispose of the Award in violation of this Agreement or the Plan, the Award and all rights hereunder shall immediately become null and void.

Nontransferability of Award. The Award may not be transferred by the Employee Holder other than by will or the laws of descent and distribution, pursuant to the designation of one or more beneficiaries on the form prescribed by the Company, a trust or entity established by the Employee Holder for estate planning purposes, or a charitable organization designated by the Employee Holder or pursuant to a qualified domestic relations order, in each case, without consideration. Except to the extent permitted by the foregoing sentence, the Award may not be sold, transferred, assigned, pledged, hypothecated, encumbered, encumbered or otherwise disposed of (whether by operation of law or otherwise) or be subject to execution, attachment, attachment or similar process. Upon any attempt to so sell, transfer, assign, pledge, hypothecate, encumber, encumber or otherwise dispose of the Award in violation of this Agreement or the PlanAward, the Award and all rights hereunder shall immediately become null and void.

Nontransferability of Award. The Award may not be transferred by the Employee Holder other than by will or will, the laws of descent and distribution, pursuant to the designation of one or more beneficiaries on the form prescribed by the Company, to the Holder’s family members, a trust or entity established by the Employee Holder for estate planning purposes, purposes or to a charitable organization designated by the Employee or pursuant to a qualified domestic relations order, in each case, without considerationHolder on the form prescribed by the Company. Except to the extent permitted by the foregoing sentence, the Award may not be sold, transferred, assigned, pledged, hypothecated, encumbered, encumbered or otherwise disposed of (whether by operation of law or otherwise) or be subject to execution, attachment, attachment or similar process. Upon any attempt to so sell, transfer, assign, pledge, hypothecate, encumber, encumber or otherwise dispose of the Award in violation of this Agreement or the PlanAward, the Award and all rights hereunder shall immediately become null and void.

Nontransferability of Award. The Award may not be transferred by the Employee other than by will or the laws of descent and distribution, pursuant to the designation of one or more beneficiaries on the form prescribed by the Company, a trust or entity established by the Employee for estate planning purposes, or a charitable organization designated by the Employee or pursuant to a qualified domestic relations order, in each case, without consideration. Except to the extent permitted by the foregoing sentence, the Award may not be sold, transferred, assigned, pledged, hypothecated, encumbered, encumbered or otherwise disposed of (whether by operation of law or otherwise) or be subject to execution, attachment, attachment or similar process. Upon any attempt to so sell, transfer, assign, pledge, hypothecate, encumber, encumber or otherwise dispose of the Award in violation of this Agreement or the Plan, Plan and the Award and all rights hereunder shall immediately become null and void.