Severability; Assignment. (a) If any portion of this Agreement is held invalid or unenforceable by a court of competent jurisdiction, such portion shall be deemed deleted as though it had never been included herein, but the remainder of this Agreement shall remain in full force and effect. (b) This Agreement shall not be assignable by the Employee without the consent of both Parent and the Company; provided, however, that either Parent or the Company may assign its rights and obligations under this Agreement without consent of the Employee in the event that either Parent or the Company shall effect a reorganization or consolidate or merge with, sell all or substantially all of its equity or assets to, or enter into any other transaction with, any other entity.
Appears in 5 contracts
Samples: Separation Benefit Agreement (Exopack Holding Corp), Separation Benefit Agreement (Exopack Holding Corp), Separation Benefit Agreement (Exopack Holding Corp)
