Assignments Clause Example from Business Contracts

Assignments. (a) This Agreement is personal to the Executive and, without the prior written consent of the Company, will not be assignable by the Executive otherwise than by will or the laws of descent and distribution, and any assignment in violation of this Agreement will be void. Notwithstanding the foregoing sentence, this Agreement and all of the Executive's rights hereunder will inure to the benefit of and be enforceable by the Executive's personal or legal representatives, executors, administrators,... successors, heirs, distributees, devisees and legatees. (b) The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company (a "Successor") to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would have been required to perform it if no such succession had taken place. As used in this Agreement, the term "Company" will mean the Company as defined herein and any Successor and any permitted assignee to which this Agreement is assigned. View More