Common use of Non-transferability of Interest Clause in Contracts

Non-transferability of Interest. None of the rights of the Employee to receive any form of compensation payable pursuant to this Agreement shall be assignable or transferable except through a testamentary disposition or by the laws of descent and distribution upon the death of the Employee, and upon any such disposition the only rights that may be transferred are rights to receive compensation that has accrued and become payable at the time of the Employee's death or that becomes payable as a result of the Employee's death pursuant to Section 7. 1. Any attempted assignment, transfer, conveyance, or other disposition (other than as aforesaid) of any interest in the rights of the Employee to receive any form of compensation to be made by the Company pursuant to this Agreement shall be void.