Common use of Nontransferability of Award and Shares Clause in Contracts

Nontransferability of Award and Shares. The Award, and any Award payout, shall not be transferable (including by sale, assignment, pledge or hypothecation) other than by will or the laws of intestate succession. The designation of a beneficiary in accordance with Plan procedures does not constitute a transfer; provided, however, that unless disclaimer provisions are specifically included in a beneficiary designation form accepted by the Administrator, no beneficiary of the Participant may disclaim the Award.

Nontransferability of Award and Shares. The Award, and any Award payout, shall not be transferable (including by sale, assignment, pledge or hypothecation) other than by will or the laws of intestate succession. The designation of a beneficiary in accordance with Plan procedures does not constitute a transfer; provided. The Participant shall not sell, howevertransfer, that unless disclaimer provisions are specifically included in a beneficiary designation form accepted by assign, pledge or otherwise encumber the Administrator, no beneficiary of Shares subject to the Participant may disclaim Award until the AwardRestriction Period has expired and all conditions to vesting and distribution have been met.

Nontransferability of Award and Shares. The Award, and any Award payout, shall not be transferable (including by sale, assignment, pledge or hypothecation) other than by will or the laws of intestate succession. The designation of a beneficiary in accordance with Plan procedures does not constitute a transfer; provided, however, that unless disclaimer provisions are specifically included in a beneficiary designation form accepted by the Administrator, no beneficiary of the Participant may disclaim the Award.

Nontransferability of Award and Shares. The Award, and any Award payout, shall not be transferable (including by sale, assignment, pledge or hypothecation) other than by will or the laws of intestate succession. The designation of a beneficiary in accordance with Plan procedures does not constitute a transfer; provided. The Participant shall not sell, howevertransfer, that unless disclaimer provisions are specifically included in a beneficiary designation form accepted by assign, pledge or otherwise encumber the Administrator, no beneficiary of Shares subject to the Participant may disclaim Award until such Shares have been issued and delivered to the AwardParticipant.

Nontransferability of Award and Shares. The Award, and any Award payout, shall not be transferable (including by sale, assignment, pledge or hypothecation) other than by will or the laws of intestate succession. The designation of a beneficiary in accordance with the Plan procedures does not constitute a transfer; provided. The Participant shall not sell, howevertransfer, that unless disclaimer provisions are specifically included assign, pledge or otherwise encumber the Shares subject to the Award (except as provided in a beneficiary designation form accepted by Section 13 herein) until the Administrator, no beneficiary of the Participant may disclaim the AwardRestriction Period has expired and all conditions to vesting and transfer have been met.

Nontransferability of Award and Shares. The Award, and any Award payout, shall not be transferable (including by sale, assignment, pledge or hypothecation) other than by will or the laws of intestate succession. The designation of a beneficiary in accordance with the Plan procedures does not constitute a transfer; provided. The Participant shall not sell, howevertransfer, that unless disclaimer provisions are specifically included in a beneficiary designation form accepted by assign, pledge or otherwise encumber the Administrator, no beneficiary of Shares subject to the Participant may disclaim Award until such Shares have been issued and delivered to the AwardParticipant.

Nontransferability of Award and Shares. The Award, and any Award payout, shall not be transferable (including by sale, assignment, pledge or hypothecation) other than by will or the laws of intestate successiondescent and distribution. The designation of a beneficiary in accordance with the Plan procedures (to the extent permitted by the Administrator) does not constitute a transfer; provided. The Participant shall not sell, howevertransfer, that unless disclaimer provisions are specifically included in a beneficiary designation form accepted by assign, pledge or otherwise encumber the Administrator, no beneficiary of Shares subject to the Participant may disclaim Award until such Shares have been issued and delivered to the AwardParticipant.

Nontransferability of Award and Shares. The Award, and any Award payout, shall not be transferable (including by sale, assignment, pledge or hypothecation) other than by will or the laws of intestate successiondescent and distribution. The designation of a beneficiary in accordance with the Plan procedures (to the extent permitted by the Administrator and valid under Applicable Law) does not constitute a transfer; provided. The Participant shall not sell, howevertransfer, that unless disclaimer provisions are specifically included in a beneficiary designation form accepted by assign, pledge or otherwise encumber the Administrator, no beneficiary of Shares subject to the Participant may disclaim Award until such Shares have been issued and delivered to the AwardParticipant.

Nontransferability of Award and Shares. The Award, and the right to any Award payout, shall will not be transferable (including by sale, assignment, pledge pledge, or hypothecation) other than by will or the laws of intestate succession, and any purported transfer will be null and void. The designation of a beneficiary in accordance with Plan procedures does not constitute a transfer; provided, however, that unless disclaimer provisions are specifically included in a beneficiary designation form accepted by the Administrator, no beneficiary of the Participant may disclaim the Award.

Nontransferability of Award and Shares. The Award, and any Award payout, shall not be transferable (including by sale, assignment, pledge or hypothecation) other than transfers by will or the laws of intestate succession. The designation of a beneficiary in accordance with the Plan procedures does not constitute a transfer; provided. The Participant shall not sell, howevertransfer, that unless disclaimer provisions are specifically included in a beneficiary designation form accepted by assign, pledge or otherwise encumber the Administrator, no beneficiary of Shares subject to the Participant may disclaim Award until the AwardShares have been earned and all conditions to vesting and transfer have been met.

Nontransferability of Award and Shares. The Award, and any Award payout, shall not be transferable (including by sale, assignment, pledge or hypothecation) other than transfers by will or the laws of intestate succession. The designation of a beneficiary in accordance with the Plan procedures does not constitute a transfer; provided. The Participant shall not sell, howevertransfer, that unless disclaimer provisions are specifically included in a beneficiary designation form accepted by assign, pledge or otherwise encumber the Administrator, no beneficiary of Shares subject to the Participant may disclaim Award until the AwardRestriction Period has expired and all conditions to vesting have been met.

Nontransferability of Award and Shares. The Award, and the right to any Award payout, shall will not be transferable (including by sale, assignment, pledge or hypothecation) other than by will or the laws of intestate succession, and any purported transfer will be null and void. The designation of a beneficiary in accordance with Plan procedures does not constitute a transfer; provided, however, that unless disclaimer provisions are specifically included in a beneficiary designation form accepted by the Administrator, no beneficiary of the Participant may disclaim the Award.

Nontransferability of Award and Shares. The Award, and any Award payout, shall not be transferable (including by sale, assignment, pledge or hypothecation) other than by will or the laws of intestate succession. The designation of a beneficiary in accordance with the Plan procedures does not constitute a transfer; provided. The Participant shall not sell, howevertransfer, that unless disclaimer provisions are specifically included assign, pledge or otherwise encumber the Shares subject to the Award (except as provided in a beneficiary designation form accepted by Section 12 herein) until the Administrator, no beneficiary of the Participant may disclaim the AwardRestriction Period has expired and all conditions to vesting and transfer have been met.

Nontransferability of Award and Shares. The AwardExcept as otherwise provided in Section 8 of the Plan, the Award and any Award payout, shall not be transferable (including by sale, assignment, pledge or hypothecation) other than by will or the laws of intestate succession). The designation of a beneficiary in accordance with Plan procedures does not constitute a transfer; provided, however, that unless disclaimer provisions are specifically included in a beneficiary designation form accepted by the Administrator, no beneficiary of the Participant may disclaim the Award.

Nontransferability of Award and Shares. The Award, This Award and any the Shares issued with respect to this Award payout, shall not be transferable (including by sale, assignment, pledge or hypothecation) other than by will or the laws of intestate succession. The designation of a beneficiary in accordance with Plan procedures does not constitute a prohibited transfer; provided. The Participant shall not sell, howevertransfer, that unless disclaimer provisions assign, pledge or otherwise encumber the Shares subject to the Award until such Shares are specifically included in a beneficiary designation form accepted by transferred to the Administrator, no beneficiary of the Participant may disclaim the Awardparticipant after Vesting.

Nontransferability of Award and Shares. The Award, and any Award payout, shall not be transferable (including by sale, assignment, pledge or hypothecation) other than by - 2 - will or the laws of intestate succession. The designation of a beneficiary in accordance with Plan procedures does not constitute a transfer; provided, however, that unless disclaimer provisions are specifically included in a beneficiary designation form accepted by the Administrator, no beneficiary of the Participant may disclaim the Award.

Nontransferability of Award and Shares. The Award, and any Award payout, shall not be transferable (including by sale, assignment, pledge or hypothecation) other than by will or the laws of intestate succession. The designation of a beneficiary in accordance with Plan procedures does not constitute a transfer; provided, however, that unless disclaimer provisions are specifically included in a beneficiary designation form accepted by the Administrator, no beneficiary of the Participant may disclaim the Award.. LTIP Sr Exec 013016 v.1 - 7 -