Successors Binding Agreement Clause Example from Business Contracts

This example Successors Binding Agreement clause appears in 3 contracts from 1 company

Successors Binding Agreement. This Agreement shall inure to the benefit of and be enforceable by the Executive's personal and legal representatives, executors, administrators, successors, heirs, distributees, devisees, and legatees. The Executive's rights and benefits under this Agreement may not be assigned, except that if the Executive dies while any amount would still be payable to the Executive hereunder if the Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordanc...e with the terms of this Agreement, to the beneficiaries designated by the Executive to receive benefits under this Agreement in a writing on file with the Company at the time of the Executive's death or, if there is no such beneficiary, to the Executive's estate. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the business and/or assets of the Company (or of any division or Subsidiary thereof employing the Executive) to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of the Company to obtain such assumption and agreement prior to the effectiveness of any such succession shall be a breach of this Agreement and shall entitle the Executive to compensation from the Company in the same amount and on the same terms to which the Executive would be entitled hereunder if the Executive terminated employment for Good Reason following a Change in Control, on the first day after the Change in Control. As such, the last paragraph of Section 4 shall be controlling as to the time of payment of the amounts specified therein determined as if the Separation from Service is on the day after the Change in Control. View More
Fifth Third Bancorp Contracts

AMENDED EXECUTIVE AGREEMENT (Filed With SEC on February 7, 2014)

2014 EXECUTIVE AGREEMENT (Filed With SEC on February 7, 2014)

2014 EXECUTIVE AGREEMENT (Filed With SEC on November 7, 2014)