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ASSIGNMENT AND ASSUMPTION AGREEMENT TO CHANGE IN CONTROL AND NONCOMPETITION AGREEMENT

NonCompetition Agreement

ASSIGNMENT AND ASSUMPTION AGREEMENT
TO
CHANGE IN CONTROL AND NONCOMPETITION AGREEMENT You are currently viewing:
This NonCompetition Agreement involves

AMB Property Corporation | AMB Property III, LLC | AMB Property, LP

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Title: ASSIGNMENT AND ASSUMPTION AGREEMENT TO CHANGE IN CONTROL AND NONCOMPETITION AGREEMENT
Governing Law: California     Date: 2/29/2008
Industry: REOPER     Sector: SERVIC

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exv10w17
 

Exhibit 10.17
ASSIGNMENT AND ASSUMPTION AGREEMENT
TO
CHANGE IN CONTROL AND NONCOMPETITION AGREEMENT
     This Assignment and Assumption Agreement (this “Assignment”) is made and entered as of January 1, 2008, by and among AMB Property, L.P., a Delaware limited partnership (“Assignor”), AMB Property III, LLC, a Delaware limited liability company (“Assignee”), and ____________ (“Executive”).
RECITALS:
     WHEREAS, Assignor and Executive have entered into that certain Amended and Restated Change in Control and Noncompetition Agreement, dated as of September 27, 2007 (the “Change in Control Agreement”);
     WHEREAS, Assignee is an affiliate of Assignor;
     WHEREAS, the Executive’s employment has been transferred from Assignor to Assignee as of January 1, 2008;
     WHEREAS, Assignor desires to assign all of its rights, title, interest, liabilities and obligations under the Change in Control Agreement to Assignee, and Assignee desires to accept such assignment and assume all liabilities and obligations thereunder;
     WHEREAS, Assignor agrees to remain liable for any liabilities and obligations under the Change in Control Agreement to the extent that Assignee does not perform its obligations thereunder;
     WHEREAS, Executive consents to such assignment, as provided for herein;
     NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be legally bound hereby, each party hereto agrees as follows:
     1. Definitions. Capitalized terms used in this Assignment without definition shall have the meanings ascribed to them in the Change in Control Agreement.
     2. Assignments and Assumptions. Assignor hereby assigns and transfers to Assignee all of its right, title and interest in and to the Change in Control Agreement, including all liabilities and obligations thereunder, and Assignee hereby accepts such assignment and assumes all liabilities and obligations of Assignor under such Change in Control Agreement and agrees to perform all duties and obligations of Assignor thereunder. Notwithstanding the foregoing, Assignor agrees to remain liable for any liabilities and obligations of Assignor and Assignee under the Change in Control Agreement to the extent that Assignee does not perform its obligations thereunder.

 


 

Executive hereby consents to such assignment and assumption on th
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