Common use of Binding Effect; Non-Assignability Clause in Contracts

Binding Effect; Non-Assignability. This Agreement shall inure to the benefit of and shall bind the Company and its successors and assigns (whether by way of sale of assets, merger, consolidation, combination, reorganization, bankruptcy or other proceedings), and Executive, his heirs, representatives, successors and permitted assigns. Notwithstanding anything herein contained to the contrary, this Agreement and the rights and obligations of Executive hereunder are personal to Executive and may not be assigned or delegated to any Third Party.

Binding Effect; Non-Assignability. This Agreement shall inure to the benefit of and shall bind the Company and its successors and assigns (whether by way of sale of assets, merger, consolidation, combination, reorganization, bankruptcy or other proceedings), and ExecutiveEmployee, his heirs, representatives, successors and permitted assigns. Notwithstanding anything herein contained to the contrary, this Agreement and the rights and obligations of Executive Employee hereunder are personal to Executive Employee and may not be assigned or delegated to any Third Party.