Common use of Limits on Transferability Clause in Contracts

Limits on Transferability. Neither the Award nor any rights or interests herein shall be pledged, encumbered, or hypothecated to, or in favor of, or be subject to any lien, obligation, or liability of Participant to, any party, other than the Corporation or any subsidiary, nor shall the Award or any rights or interests herein be assignable or transferable by Participant except in the event of Participant’s death.

Appears in 5 contracts

Samples: Letter Agreement (Alleghany Corp /De), Performance Share Award Agreement (Alleghany Corp /De), Restricted Stock Unit Award Agreement (Alleghany Corp /De)

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