Involuntary Assignments. (1) In the event that the Executive shall be divested of title to his shares of capital stock by involuntary sale, assignment or transfer, (as, for example, but without limiting the generality thereof, by sale under levy of attachment or execution, or sale in connection with bankruptcy or other court process) or transfer to a spouse in satisfaction of marital rights in connection with a separation or divorce, the person, firm or corporation acquiring such stock (hereinafter called the “Judicial Assignee"), shall take and hold such shares of capital stock subject to all the restrictions, obligations and disabilities as was the Executive.
Appears in 7 contracts
Samples: Employment Agreement (Roadships Holdings, Inc.), Employment Agreement (Roadships Holdings, Inc.), Employment Agreement (Roadships Holdings, Inc.)
Involuntary Assignments. (1) In the event that the Executive shall be divested of title to his shares of capital stock by involuntary sale, assignment or transfer, (as, for example, but without limiting the generality thereof, by sale under levy of attachment or execution, or sale in connection with bankruptcy or other court process) or transfer to a spouse in satisfaction of marital rights in connection with a separation or divorce, the person, firm or corporation acquiring such stock (hereinafter called the “Judicial Assignee"), shall take and hold such shares of capital stock subject to all the restrictions, restrictions and obligations and disabilities as was the Executive.
Appears in 3 contracts
Samples: Employment Agreement (Roadships Holdings, Inc.), Employment Agreement (Roadships Holdings, Inc.), Employment Agreement (Roadships Holdings, Inc.)
