Common use of Alienability Clause in Contracts

Alienability. Neither the Executive, nor any beneficiary under this Agreement shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance, owed by the Executive or his beneficiary or any of them, or be transferable by operation of law in the event of bankruptcy, or otherwise.

Appears in 4 contracts

Samples: Supplemental Retirement Agreement (Td Banknorth Inc.), Supplemental Retirement Agreement (Td Banknorth Inc.), Supplemental Retirement Agreement (Peoples Heritage Financial Group Inc)

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Alienability. Neither the Executive, nor any nor, if applicable, his widow or other beneficiary under this Agreement Agreement, shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder or any rights to benefits hereunder, nor shall any of said benefits or rights be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance, maintenance owed by the Executive or his beneficiary or or, if applicable, any of thembeneficiary, or be transferable by operation of law in the event of bankruptcy, or otherwise.

Appears in 4 contracts

Samples: Executive Supplemental Compensation Agreement (First Ipswich Bancorp /Ma), Executive Supplemental Compensation Agreement (First Ipswich Bancorp /Ma), Executive Supplemental Compensation Agreement (First Ipswich Bancorp /Ma)

Alienability. Neither the Executive, his widow, nor any other beneficiary under this Agreement shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance, owed by the Executive or his beneficiary or any of them, or be transferable by operation of law in the event of bankruptcy, or otherwise.

Appears in 3 contracts

Samples: Supplemental Compensation Agreement (Campello Bancorp, Inc.), Supplemental Compensation Agreement (Campello Bancorp, Inc.), Executive Supplemental Compensation Agreement (First Litchfield Financial Corp)

Alienability. Neither the Executive, his widow, former spouse, nor any other beneficiary under this Agreement shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance, owed by the Executive or his beneficiary or any of them, or be transferable by operation of law in the event of bankruptcy, or otherwise.

Appears in 3 contracts

Samples: Executive Supplemental Retirement Agreement (Georgetown Bancorp, Inc.), Executive Supplemental Retirement Agreement (Georgetown Bancorp, Inc.), Executive Supplemental Retirement Agreement (Georgetown Bancorp, Inc.)

Alienability. Neither the Executive, Executive nor any beneficiary under this Agreement shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance, owed by the Executive or his beneficiary or any of themher beneficiaries, or be transferable by operation of law in the event of bankruptcy, or otherwise.

Appears in 3 contracts

Samples: Supplemental Retirement Agreement (Service Bancorp Inc), Supplemental Retirement Agreement (Service Bancorp Inc), Supplemental Retirement Agreement (Service Bancorp Inc)

Alienability. Neither the Executive, nor any beneficiary under this Agreement shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance, owed owned by the Executive or his beneficiary or any of them, or be transferable by operation of law in the event of bankruptcy, or otherwise.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Program Agreement (Camden National Corp), Supplemental Executive Retirement Program Agreement (Camden National Corp)

Alienability. Neither the ExecutiveExecutive nor her widower, nor any beneficiary under this Agreement shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance, owed by the Executive or his her beneficiary or any of them, or be transferable by operation of law in the event of bankruptcy, or otherwise.

Appears in 2 contracts

Samples: Executive Salary Continuation Agreement, Executive Salary Continuation Agreement (Seacoast Financial Services Corp)

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Alienability. Neither the Executive, nor any beneficiary under this Agreement shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance, owed by the Executive or his her beneficiary or any of them, or be transferable by operation of law in the event of bankruptcy, or otherwise.

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Beverly National Corp)

Alienability. Neither the Executive, nor any beneficiary under ------------ this Agreement shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance, owed by the Executive or his beneficiary or any of them, or be transferable by operation of law in the event of bankruptcy, or otherwise.. ARTICLE EIGHT -------------

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Beverly National Corp)

Alienability. Neither the Executive, nor any beneficiary under this Agreement shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgmentsjudgements, alimony alimony, or separate maintenance, owed by the Executive or his her beneficiary or any of them, or be transferable by operation of law in the event of bankruptcy, or otherwise.

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Beverly National Corp)

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