SUCCESSORS TO THE EMPLOYER. This Agreement shall be binding upon and inure to the benefit of the Employer and any successor of the Employer. The Employer shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Employer to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Employer would be required to perform it if no succession had taken place.
Appears in 22 contracts
Samples: Change in Control Agreement (Citizens & Northern Corp), Change in Control Agreement (Civista Bancshares, Inc.), Change in Control Agreement (Civista Bancshares, Inc.)
SUCCESSORS TO THE EMPLOYER. This Agreement shall be binding upon and inure to the benefit of the Employer and any successor of the Employer. The Employer shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or or assets of the Employer expressly to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Employer would be required to perform it if no succession had taken place. Failure of the Employer to obtain an assumption of this Agreement at or prior to the effectiveness of any succession shall be a material breach of this Agreement.
Appears in 4 contracts
Samples: Employment Agreement (NSTS Bancorp, Inc.), Employment Agreement (NSTS Bancorp, Inc.), Employment Agreement (NSTS Bancorp, Inc.)
