Common use of Binding Effect; No Third Party Beneficiary Clause in Contracts

Binding Effect; No Third Party Beneficiary. This Agreement shall be binding upon and inure to the benefit of the Corporation and its successors and assigns and the Trust and its respective successors, assigns and beneficiaries. This Agreement shall not confer any rights or remedies upon any person other than the parties hereto and their respective successors and assigns, except that the Employee is a third-party beneficiary of this Agreement to the extent necessary to effectuate the intents and purposes of this Agreement.

Binding Effect; No Third Party Beneficiary. This Agreement shall be binding upon and inure to the benefit of the Corporation and its successors and assigns and the Trust Employee and its his respective successors, assigns assigns, heirs, executors, administrators and beneficiaries. This Agreement shall not confer any rights or remedies upon any person other than the parties hereto and their respective successors and assigns, except that the Employee is a third-party beneficiary of this Agreement to the extent necessary to effectuate the intents and purposes of this Agreement.