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This excerpt taken from the SIRI DEF 14A filed Apr 30, 2009. Transferability
Each award, and each right under any award, will be exercisable
only by the participant during the participant’s lifetime,
or, if permissible under applicable law, by the
participant’s guardian or legal representative, and no
award may be sold, assigned, pledged, attached, alienated or
otherwise transferred or encumbered by a participant, other than
by will or by the laws of descent and distribution, and any such
purported sale, assignment, pledge, attachment, alienation,
transfer or encumbrance will be void and unenforceable against
us or any affiliate; provided that the designation of a
beneficiary will not constitute a sale, assignment, pledge,
attachment, alienation, transfer or encumbrance.
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