Common use of Assignment; Binding Effect; Amendment Clause in Contracts

Assignment; Binding Effect; Amendment. This Agreement and the rights of the parties under it may not be assigned (except by operation of law, except that they may be assigned by the Company to an affiliate of the Company or to any successor of the Company to the Businesses without the consent of Executive, and except that Executive may assign his rights, but not his obligations, under this Agreement to an entity of which he owns a majority of the voting interests without the consent of the Company) and shall be binding upon and shall inure to the benefit of the parties. In addition, this Agreement shall inure to the benefit of: (a) the Affiliates of the Company; and (b) Consultant's estate in the event of Consultant's death, in which case the Company shall continue to make payments under this Agreement to Consultant's estate as and when they would have been made to Consultant. This Agreement constitutes a valid and binding agreement of the parties enforceable in accordance with its terms and may be modified or amended only by a written instrument executed by each party.

Assignment; Binding Effect; Amendment. This Agreement and the rights of the parties under it may not be assigned (except by operation of law, except that they may be assigned by the Company to an affiliate of the Company or to any successor of the Company to the Businesses without the consent of Executive, and except that Executive may assign his rights, but not his obligations, under this Agreement to an entity of which he owns a majority of the voting interests without the consent of the Company) and shall be binding upon and shall inure to the benefit of the parties. In addition, this Agreement shall inure to the benefit of: (a) the Affiliates of the CompanyAffiliated Corporations; and (b) ConsultantExecutive's estate in the event of ConsultantExecutive's death, in which case the Company shall continue to make payments under this Agreement to ConsultantExecutive's estate as and when they would have been made to ConsultantExecutive. This Agreement constitutes a valid and binding agreement of the parties enforceable in accordance with its terms and may be modified or amended only by a written instrument executed by each party.