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Assignment of Employment Agreement: Definition, Terms, Example

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What is an Assignment Of Employment Agreement?

An assignment of employment agreement is a contract between an employer and employee that give employees rights in inventions they make. This agreement applies to inventions made while employeed with the contracted company and is meant to entice employees to come on board with the company. Since these agreements are so crucial in ensuring an employee's intellectual property is protected, employers place a special emphasis on the wording of these agreements.

The purpose of the agreement is to ensure the contracted company has the rights to use inventions of the employee without risk of legal retaliation.

Common Sections in Assignment Of Employment Agreements

Below is a list of common sections included in Assignment Of Employment Agreements. These sections are linked to the below sample agreement for you to explore.

Assignment Of Employment Agreement Sample

Exhibit 10.26
 
ASSIGNMENT OF EMPLOYMENT AGREEMENT

ASSIGNMENT OF EMPLOYMENT AGREEMENT (this “Agreement”), dated as of February 10, 2010 by and among Envision Solar International, Inc., a California corporation (“Envision”), Casita Enterprises, Inc., a Nevada corporation (“Casita”), and Robert Noble (“Executive”).

WHEREAS, Envision and Executive have entered into that certain Employment Agreement, dated as of June 15, 2007 (the “Employment Agreement”);

WHEREAS, Casita and Executive wish to assign all of Envision’s, right, title and interest in, to and under the Employment Agreement to Casita and Casita agrees to assume and accept such assignments and Executive consents to such assignment.

NOW THEREFORE, Envision, Casita and Executive agree as follows:

1.           Assignment and Assumption. Envision does hereby sell, assign and transfer (the “Assignment”) unto Casita and its successors and assigns, all of its obligations, right, title and interest in, to and under the Employment Agreement.  Each of the undersigned consents to the Assignment.

2.            Ratification.  Except as assigned hereby, nothing herein contained shall otherwise modify, reduce, amend or otherwise supplement the terms and provisions of the Employment Agreement, which shall remain in full force and effect in accordance with its terms.

3.           Governing Law.  This Agreement shall be governed by, and be construed in accordance with, the laws of the State of New York.

4.           Counterparts.  This Agreement may be executed in one or more counterparts by the parties hereto in separate counterparts, each of which when executed shall be deemed to be an original and all of which together shall constitute one and the same instrument.


[SIGNATURE PAGE FOLLOWS]

 
 

 

IN WITNESS WHEREOF, the parties hereto have duly executed this Assignment as of the date first written above.
 
 
 
ENVISION SOLAR INTERNATIONAL, INC.
   
By:
/s/ Howard Smith
 
Name:                 Howard Smith
 
Title:                 Chief Financial Officer
   
   
CASITA ENTERPRISES, INC.
   
By:
/s/ Howard Smith
 
Name:                 Howard Smith
 
Title:                 Chief Financial Officer
   
   
Executive:
   
    /s/ Robert Noble                                                                
Robert Noble

 

Reference:
Security Exchange Commission - Edgar Database, EX-10.26 28 f8k0210ex10xxvi_envision.htm ASSIGNMENT OF EMPLOYMENT AGREEMENT, DATED FEBRUARY 10, 2010, BY AND BETWEEN CASITA ENTERPRISES, INC., ENVISION SOLAR INTERNATIONAL, INC. AND ROBERT NOBLE, Viewed September 19, 2022, View Source on SEC.

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