Executive’s Successor Clause Samples
The "Executive’s Successor" clause defines how the rights and obligations of an executive under an agreement are transferred in the event of the executive’s death or incapacity. Typically, this clause ensures that any compensation, benefits, or outstanding payments owed to the executive are instead paid to their designated beneficiary, estate, or legal representative. By specifying the process for succession, the clause provides clarity and continuity, preventing disputes and ensuring that the executive’s interests are protected even if they are unable to personally fulfill their role.
Executive’s Successor. This Agreement shall inure to the benefit of, and be enforceable by, the Executive’s personal or legal representatives, administrators, successors, executors, heirs, distributees, devisees, and legatees. If the Executive should die after a Severance Payment Event, but before any payment or benefit to which the Executive is entitled under this Agreement has been received by the Executive, all payments or benefits to which the Executive would have been entitled had he continued to live (other than any such Welfare Benefits that, by their terms, terminate upon the Executive’s death) shall be made or provided in accordance with this Agreement to the representatives, executors, or administrators of the Executive’s estate.
Executive’s Successor. This Agreement shall inure to the benefit of and be enforceable by Executive and his personal or legal representatives and successors in interest under this Agreement.
Executive’s Successor. This Agreement is personal to the Executive and shall not be assigned by the Executive. Any purported assignment by the Executive shall be null and void from the initial date of the purported assignment. If the Executive should die after a Severance Payment Event, but before any payment or other benefit to which the Executive is entitled to receive under this Agreement has been fully received by Executive, all payments or benefits which the Executive would have been entitled to receive had he continued to live shall be made or provided in accordance with the terms of this Agreement to Executive’s surviving lawful spouse, if any, or if not, to his estate upon receipt by the Company of proper instructions.
Executive’s Successor. This Agreement shall inure to the benefit of and be enforceable by Executive and his personal or legal representatives and permitted successors in interest under this Agreement.
Executive’s Successor. This Agreement shall inure to the benefit of and be enforceable by Executive and his personal or legal representatives and successors in interest under this Agreement; provided, however, that Executive may not assign any of the duties and obligations hereunder without the written consent of the Board.
Executive’s Successor. The terms of this Agreement and all rights of Executive hereunder will inure to the benefit of, and be enforceable by, Executive's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.
Executive’s Successor. This Separation Agreement shall inure to the benefit of and be enforceable by Executive and his personal or legal representatives and successors in interest under this Separation Agreement.
Executive’s Successor. The payments and benefits to be provided to the Executive (or his spouse) under this Agreement shall inure to the benefit of, and the right of the Executive (or his spouse) to receive any payments and/or benefits to which either of them becomes entitled shall be enforceable by, the Executive's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive should die while any amount would still be payable to the Executive hereunder if Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the Executive's devisee, legatee or other designee or, if there is no such designee, to the Executive's estate.