NON-ASSIGNABILITY OF BENEFITS. Neither the Executive nor his designated beneficiary under this Agreement shall have any power or right to transfer, assign, anticipate, hypothecate or otherwise encumber any part or all of the amounts payable hereunder. Such amounts shall not be subject to seizure by any creditor of any such beneficiary, by a proceeding at law or in equity, nor transferable by operation of law in the event of the bankruptcy, insolvency or death of the Executive, his designated beneficiary, or any other beneficiary hereunder. Any such attempted assignment or transfer shall be void and shall terminate this Agreement; the Company shall thereupon have no further liability hereunder.
Appears in 7 contracts
Samples: Death Benefit Plan Agreement (Investors Title Co), Death Benefit Plan Agreement (Investors Title Co), Death Benefit Plan Agreement (Investors Title Co)
NON-ASSIGNABILITY OF BENEFITS. Neither the Executive nor his designated beneficiary beneficiaries under this Agreement shall have any power or right to transfer, assign, anticipate, hypothecate or otherwise encumber any part or all of the amounts payable hereunder. Such amounts shall not be subject to seizure by any creditor of any such beneficiary, by a proceeding at law or in equity, nor transferable by operation of law in the event of the bankruptcy, insolvency or death of the Executive, his designated beneficiarybeneficiaries, or any other beneficiary hereunder. Any such attempted assignment or transfer shall be void and shall terminate this Agreement; the Company shall thereupon have no further liability hereunder.
Appears in 2 contracts
Samples: Death Benefit Plan Agreement (Investors Title Co), Death Benefit Plan Agreement (Investors Title Co)
NON-ASSIGNABILITY OF BENEFITS. Neither the Executive Employee nor his designated beneficiary any Beneficiary under this Agreement shall have any power or right to transfer, assign, anticipate, hypothecate or otherwise encumber any part or all of the amounts payable hereunder. Such amounts shall not be subject to seizure by any creditor of Employee or any such beneficiaryBeneficiary hereunder, by a proceeding at law or in equity, nor transferable by operation of law in the event of the bankruptcy, bankruptcy or insolvency or death of the Executive, his designated beneficiary, Employee or any other beneficiary Beneficiary hereunder. Any such attempted assignment or transfer shall be void and shall terminate this Agreement; the Company Corporation shall thereupon have no further liability hereunder.
Appears in 1 contract
Samples: Retirement Benefit Agreement (Sunstone Hotel Investors, Inc.)
