Common use of Nontransferability of SAR Clause in Contracts

Nontransferability of SAR. The SAR may not be assigned or transferred by the Recipient, either voluntarily or by operation of law, except by will or by the laws of descent and distribution of the state or country of the Recipient’s domicile at the time of death and, during the Recipient’s lifetime, the SAR shall be exercisable only by the Recipient.

Nontransferability of SAR. The This SAR may not be assigned sold, assigned, transferred, pledged or transferred otherwise encumbered by the RecipientParticipant, either voluntarily or by operation of law, except by will or by the laws of descent (or jurisdictional equivalent) and distribution of to a transferee that has been approved by the state or country of the Recipient’s domicile at the time of death Company, and, during the Recipient’s lifetimelifetime of the Participant, the this SAR shall be exercisable only by the RecipientParticipant.