Alienability. Neither the Executive nor his widow, shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance, owed by the Executive or his beneficiary or any of them, or be transferable by operation of law in the event of bankruptcy, or otherwise.
Appears in 2 contracts
Sources: Executive Salary Continuation Agreement (Seacoast Financial Services Corp), Executive Salary Continuation Agreement (1855 Bancorp)
Alienability. Neither the Executive nor his widowher widower, shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance, owed by the Executive or his her beneficiary or any of them, or be transferable by operation of law in the event of bankruptcy, or otherwise.
Appears in 2 contracts
Sources: Executive Salary Continuation Agreement, Executive Salary Continuation Agreement (Seacoast Financial Services Corp)
Alienability. Neither the Executive nor his widow, Beneficiary shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, modify or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance, maintenance owed by the Executive or his beneficiary or any of themBeneficiary, or be transferable by operation of law in the event of bankruptcy, insolvency, or otherwise.
Appears in 2 contracts
Sources: Executive Supplemental Retirement Agreement (La Quinta Properties Inc), Executive Supplemental Retirement Agreement (Warren Bancorp Inc)
Alienability. Neither the Executive nor his widow, Beneficiary shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony alimony, or separate maintenance, maintenance owed by the Executive or his beneficiary or any of thembeneficiary, or be transferable by operation of law in the event of bankruptcy, insolvency, or otherwise.
Appears in 1 contract
Sources: Executive Supplemental Retirement Agreement (La Quinta Corp)