JCPenney 2015 Annual Report Download - page 133

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be independent of any other rights of indemnification to which
such persons may be entitled under the Company’s
Certificate of Incorporation, By-laws, by contract, as a matter
of law, or otherwise.
(e)       . No
unearned Restricted Stock Unit under this Notice, may be
sold, assigned, pledged, or transferred other than by will or
the laws of descent and distribution and any attempt to do so
will be void. To the extent and under such terms and
conditions as determined by the Board or a subcommittee
thereof vested with such authority, You may assign or
transfer the Restricted Stock Units granted under this Notice
without consideration (i) to Your spouse, children, or
grandchildren (including any adopted and step children or
grandchildren), parents, grandparents, or siblings, (ii) to a trust
for Your benefit or for the benefit of one or more of the
persons referred to in clause (i), (iii) to a partnership, limited
liability company or corporation in which You or the persons
referred to in clause (i) are the only partners, members or
shareholders, or (iv) for charitable donations; provided that
any such assignee shall be bound by and subject to all of the
terms and conditions of this Notice and will, to the extent
necessary, execute an agreement satisfactory to the
Company evidencing such obligations; and provided further
that the assignee will remain bound by the terms and
conditions of this Notice. The Company shall cooperate with
any assignee and the Company’s transfer agent in
effectuating any transfer permitted herein.
(f)   . The Company's liability will be
defined only by this Notice. Upon distribution to You of all
shares of Common Stock due under this Notice, all
responsibilities and obligations of the Company will be fulfilled
and You will have no further claims against the Company for
further performance under this Notice.