Common use of Alienability Clause in Contracts

Alienability. 13. It is agreed that neither the Executive nor his/her spouse nor any designated beneficiary, shall have any right to commute, sell, assign, transfer or otherwise convey the right to receive any payments hereunder, which payments and the right thereto are expressly declared to be non-assignable and non-transferable; and, in the event of any attempted assignment or transfer, the Bank shall have no further liability hereunder.

Appears in 4 contracts

Samples: Continuation Agreement      the Agreement, Wilson Bank and Trust Executive Salary Continuation Agreement (Wilson Bank Holding Co), Wilson Bank and Trust Executive Salary Continuation Agreement (Wilson Bank Holding Co)

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Alienability. 13. It is agreed that neither the Executive Executive, nor his/her spouse spouse, nor any designated beneficiaryother assignee, shall have any right to commute, sell, assign, transfer or otherwise convey the right to receive any payments hereunder, which payments and the right thereto are expressly declared to be non-assignable and non-transferable; and, in the event of any attempted assignment or transfer, the Bank shall have no further liability hereunder.

Appears in 4 contracts

Samples: Executive Salary Continuation Agreement (Lyons Bancorp Inc), Executive Salary Continuation Agreement (Lyons Bancorp Inc), Executive Salary Continuation Agreement (Lyons Bancorp Inc)

Alienability. 13. It is agreed that neither the Executive nor his/her spouse nor any designated beneficiary, shall have any right to commute, sell, assign, transfer or otherwise convey the right to receive any payments hereunder, which payments and the right thereto are expressly declared to be non-non- assignable and non-transferable; and, in the event of any attempted assignment or transfer, the Bank shall have no further liability hereunder.

Appears in 3 contracts

Samples: Wilson Bank and Trust Executive Salary Continuation Agreement (Wilson Bank Holding Co), Wilson Bank and Trust Executive Salary Continuation Agreement (Wilson Bank Holding Co), Wilson Bank and Trust Executive Salary Continuation Agreement (Wilson Bank Holding Co)

Alienability. 13. It is agreed that neither the Executive Executive, nor his/her spouse his spouse, nor any designated beneficiaryother designee, shall have any right to commute, sell, assign, transfer or otherwise convey the right to receive any payments hereunder, which payments and the right thereto are expressly declared to be non-assignable and non-transferable; and, in the event of any attempted assignment or transfer, the Bank shall have no further liability hereunder.

Appears in 2 contracts

Samples: Continuation Agreement (Oak Hill Financial Inc), Continuation Agreement (Oak Hill Financial Inc)

Alienability. 13. It is agreed that neither the Executive Executive, nor his/her spouse his spouse, nor any designated beneficiaryother designee, shall have any right to commute, sell, assign, transfer or otherwise convey the right to receive any payments hereunder, which payments and the right thereto are expressly declared to be non-assignable nonassignable and non-transferablenontransferable; and, in the event of any attempted assignment or transfer, the Bank shall have no further liability hereunder.

Appears in 1 contract

Samples: Mahoning National Bancorp Inc

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Alienability. 1310. It is agreed that neither the Executive Executive, nor his/her spouse his spouse, nor any designated beneficiaryother designee, shall have any right to commute, sell, assign, transfer or otherwise convey the right to receive any payments hereunder, which payments and the right thereto are expressly declared to be non-assignable and non-transferable; and, in the event of any attempted assignment or transfer, the Bank shall have no further liability hereunder.

Appears in 1 contract

Samples: Continuation Agreement (Pab Bankshares Inc)

Alienability. 13. It is agreed that neither the Executive nor his/her spouse nor any designated beneficiary, shall have any right to commute, sell, assign, transfer or otherwise convey the right to receive any payments hereunder, which payments and the right thereto are expressly declared to be non-assignable and non-transferable; and, in the event of any attempted assignment or transfer, the Bank shall have no further liability hereunder.

Appears in 1 contract

Samples: Wilson Bank and Trust Executive (Wilson Bank Holding Co)

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