Common use of Assignment of Rights and Duties Clause in Contracts

Assignment of Rights and Duties. This Agreement and Executive's rights and obligations hereunder may not be assigned by Executive. The Company shall assign the Company's rights and duties hereunder to any person, firm, corporation or other business entity that succeeds to substantially all of the assets and operations of the Company. This Agreement shall not be terminated by any merger in which Company is not the surviving or resulting corporation, or on any transfer of all or substantially all of Company's assets. In the event of any such merger or transfer of assets, the provisions of this Agreement shall be binding on and inure to the benefit of the surviving business entity or the business entity to which such assets shall be transferred.

Appears in 2 contracts

Sources: Employment Agreement (Reynolds & Reynolds Co), Employment Agreement (Reynolds & Reynolds Co)