Common use of Assignment by the Employer Clause in Contracts

Assignment by the Employer. This Agreement shall inure to the benefit of and be binding upon the Employer and its successors and assigns; provided, that such assignment shall not relieve any Employer of its obligations under Section 10 of this Agreement. Except as specified in the preceding sentence, no rights or obligations of the Employer under this Agreement may be assigned or transferred by the Employer without the Executive’s prior written consent, except that such rights or obligations may be assigned or transferred in connection with a merger, consolidation, reorganization or other similar corporate transaction following which Provident Energy Trust, a trust organized under the laws of Alberta, Canada (together with its successors and assigns, “Provident”) will no longer own, directly or indirectly, at least 50% of the equity securities of BMC or BBGP (determined on a fully diluted basis), or a sale of all or substantially all of BreitBurn Partners’ assets provided that the assignee or transferee is the successor to all or substantially all of BreitBurn Partners’ assets and assumes the liabilities, obligations and duties of the Employer under this Agreement.