Common use of Spendthrift Clause Clause in Contracts

Spendthrift Clause. To the extent permitted by law, no benefits payable under this Agreement shall be subject to the claim of any creditor of the Employee (or Designated Beneficiary, if applicable) or to any legal process by any creditor of any such person. The Employee or Designated Beneficiary, if applicable, shall have no right to alienate, anticipate, pledge or assign any benefits under the Agreement.

Spendthrift Clause. To the extent permitted by law, no benefits payable under this Agreement shall be subject to the claim of any creditor of the Employee Director (or Designated Beneficiary, if applicable) or to any legal process by any creditor of any such person. The Employee Director or Designated Beneficiary, if applicable, shall have no right to alienate, anticipate, pledge or assign any benefits under the Agreement.

Spendthrift Clause. To the extent permitted by law, no benefits payable under this Agreement shall be subject to the claim of any creditor of the Eligible Employee (or Designated Beneficiary, if applicable) or to any legal process by any creditor of any such person. The Eligible Employee or Designated Beneficiary, if applicable, shall have no right to alienate, anticipate, pledge or assign any benefits under the Agreement.

Spendthrift Clause. To the extent permitted by law, no No benefits payable under this Agreement shall be subject to the claim of any creditor of the Employee Executive (or Designated Beneficiary, if applicable) or to any legal process by any creditor of any such person. The Employee Executive or Designated Beneficiary, if applicable, shall have no right to alienate, anticipate, pledge or assign any benefits under the Agreement.