Sample assignment of contract is a particular document, which allows assigning certain rights and obligations to the individual or a group of people. An accurately issued paper may become a valuable protection of one partner’s rights and responsibilities; it also encourages a fruitful cooperation and helps to avoid various misunderstanding in further partnership. Having a correct sample assignment of contract means being ready to establish an official business relationship, as soon, as it is required. It is necessary to include the certain points to the document in order to cover the most meaningful issues; thus, the contract structure and its basic details formulate a decent template to make an agreement.
Assignment of Contract #345
For value received, the undersigned Assignor (Mr. Wells) hereby assigns, transfers and sets over to Mr. Stevenson all rights, title and interest held by the Assignor in and to the following described contract:
Mr. Wells assigns Mr. Stevenson his place on the board of directors of the “Future” travelling agency along with all the following responsibilities, mentioned in the corporate manual “The Code of Conduct for the “Future” Employees”. Also, the Assignee receives a direct financial income, taking into account the bonuses and fines, mentioned in the same manual. As one of the board directors, he also receives a right to vote on the boards and staff meeting, and a right to participate in the Annual International Tourism Business Conference “The benefits of the pro-poor tourism” as a competent board director representing the “Future” travelling agency.
The Assignee takes the post at once the contract is fully signed by both parties and gives the post away on December 31, 2020. Therefore, the Assignee does not have to receive a consent prior of the Assigner’s general approving in any form.
The Assignor has a right to call this contract off, in case the Assignee poorly performs the responsibilities assigned, and other competent members of the board directors’ team of “Future” traveling agency prove this fact.
The Assignee does not have a right to refuse of his assigned obligations and rights before December 31, 2020 (if his health is not under a threat); otherwise, he has to pay the fine. The sizes of the fine are determined as the 50% of the received income (without taxes counted) for the period of being a board director.
If the Assignee occurs to be not capable of performing the responsibilities assigned for reasons of health, the “Future” travelling agency is to hold the elections and choose a decent substitute for the post. In the case of Mr. Stevenson’s disease, the “Future” travelling agency is obliged to provide him with the decent medical treatment and medical insurance to cover all the treatment expenses.
Both the Assignor and the Assignee own the copies of this Assignment of Contract and may use it for the purpose of signing another business related documents.
July 31st, 2017
Assignor: Mr. Jared Collin Wells
Assignee: Mr. Bradley Luke Stevenson