Common use of Employing Entity Clause in Contracts

Employing Entity. The Parties agree that the Parties may mutually agree to assign, the Company’s rights, duties and obligations hereunder to affiliated entities to the extent that employment by such local entity would avoid adverse tax implications for either Executive or the Company. In the event of such an assignment, the Parties agree that the assignee shall be primarily liable for all Company obligations and duties hereunder but that the Company shall assume any liabilities hereunder should the local entity be unable to fulfill such obligations and duties hereunder. For avoidance of doubt, if the local entity is unable to fulfill the severance obligations hereunder, the Company agrees to satisfy them.

Employing Entity. The Parties agree that the Parties may mutually agree to assign, assign the Company’s rights, duties and obligations hereunder to affiliated entities to the extent that employment by such local entity would avoid adverse tax implications for either Executive or the Company. In the event of such an assignment, the Parties agree that the assignee shall be primarily liable for all Company obligations and duties hereunder but that the Company shall assume any liabilities hereunder should the local entity be unable to fulfill such obligations and duties hereunder. For avoidance of doubt, if the local entity is unable to fulfill the severance obligations hereunder, the Company agrees to satisfy them.