Restriction on Transfer; Non-Transferability of Restricted Share Units. The Restricted Share Units are not assignable or transferable, in whole or in part, and they may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including, but not limited to, by gift, operation of law or otherwise) other than by will or by the laws of descent and distribution to the estate of the Director upon the Director’s death. Any purported transfer in violation of this Section 5 shall be void ab initio. Notwithstanding the foregoing, the Participant may, with the prior approval of the Company, transfer the RSUs for estate planning purposes.
Appears in 6 contracts
Sources: Restricted Share Unit Agreement (Jackson Financial Inc.), Restricted Share Unit Agreement (Jackson Financial Inc.), Restricted Share Unit Agreement (Jackson Financial Inc.)
Restriction on Transfer; Non-Transferability of Restricted Share Units. The Restricted Share Units are not assignable or transferable, in whole or in part, and they may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including, but not limited to, by gift, operation of law or otherwise) other than by will or by the laws of descent and distribution to the estate of the Director upon the Director’s death. Any purported transfer in violation of this Section 5 shall be void ab initio. Notwithstanding the foregoing, the Participant may, with the prior approval of the Company, transfer the RSUs for estate planning purposes.
Appears in 4 contracts
Sources: Director Restricted Share Unit Agreement (Jackson Financial Inc.), Director Restricted Share Unit Agreement (Jackson Financial Inc.), Director Restricted Share Unit Agreement (Jackson Financial Inc.)
Restriction on Transfer; Non-Transferability of Restricted Share Units. The Restricted Share Units are not assignable or transferable, in whole or in part, and they may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including, but not limited to, by gift, operation of law or otherwise) other than by will or by the laws of descent and distribution to the estate of the Director upon the Director’s death. Any purported transfer in violation of this Section 5 shall be void ab initio. Notwithstanding the foregoing, the Participant may, with the prior approval of the Company, transfer the RSUs for estate planning purposes. Section 6.
Appears in 1 contract
Sources: Director Restricted Share Unit Agreement (Jackson National Life Insurance Co of New York)