IS FOUND TO BE INVALID OR UNENFORCEABLE. SUCH PROVISION WILL, TO
THE EXTENT ALLOWABLE BY LAW AND THE PRECEDING SENTENCE, NOT BE VOIDED OR
CANCELLED BUT WILL INSTEAD BE ENFORCED AS ANY OTHER PROVISION HEREOF, ALL THE
OTHER PROVISION CONTINUING IN FULL FORCE AND EFFECT.
8.3.
NO WAIVER.
THE FAILURE BY EITHER PARTY AT ANY
TIME TO REQUIRE PERFORMANCE OR COMPLIANCE BY THE OTHER OF ANY OF ITS OBLIGATION
OR AGREEMENTS WILL IN NO WAY AFFECT THE RIGHT TO REQUIRE SUCH PERFORMANCE OR
COMPLIANCE AT ANY TIME THEREAFTER. THE WAIVER OF EITHER PARTY OF A BREACH OF ANY
PROVISION HEREOF WILL NOT BE TAKEN OR HELD TO BE A WAIVER OF ANY PRECEDING OR
SUCCEEDING BREACH OF SUCH PROVISION OR AS A WAIVER OF THE PROVISION ITSELF. NO
WAIVER OF ANY KIND WILL BE EFFECTIVE OR BINDING, UNLESS IT IS IN WRITING AND IS
SIGNED BY THE PARTY AGAINST WHOM SUCH WAIVER IS SOUGHT TO BE ENFORCED.
8.4.
ASSIGNMENT.
THIS AGREEMENT AND ALL RIGHTS
HEREUNDER ARE PERSONAL TO EMPLOYEE AND MAY NOT BE TRANSFERRED OR ASSIGNED BY
EMPLOYEE AT ANY TIME.
8.5.
ENTIRE AGREEMENT.
THIS AGREEMENT CONSTITUTES
THE ENTIRE AND ONLY AGREEMENT BETWEEN THE PARTIES RELATING TO EMPLOYMENT OF
EMPLOYEE WITH THE COMPANY, AND THIS AGREEMENT SUPERSEDES AND CANCELS ALL
PREVIOUS CONTRACTS, ARRANGEMENTS OR UNDERSTANDINGS WITH RESPECT THERETO.
8.6.
AMENDMENT; WAIVER.
NO PROVISION OF THIS
AGREEMENT MAY BE MODIFIED, WAIVED, TERMINATED OR AMENDED EXCEPT BY A WRITTEN
INSTRUMENT EXECUTED BY THE PARTIES HERETO. NO WAIVER OF A BREACH OF ANY
PROVISION OF THIS AGREEMENT SHALL CONSTITUTE A WAIVER OF ANY SUBSEQUENT BREACH
OF THE SAME OR OTHER PROVISIONS HEREOF.
8.7.
NOTICES.
ALL NOTICES AND OTHER COMMUNICATIONS
REQUIRED OR PERMITTED UNDER THIS AGREEMENT WILL BE IN WRITING AND HAND
DELIVERED, SENT BY TELECOPIER, SENT BY CERTIFIED FIRST CLASS MAIL, POSTAGE
PREPAID, OR SENT BY NATIONALLY RECOGNIZED EXPRESS COURIER SERVICE. SUCH NOTICES
AND OTHER COMMUNICATIONS WILL BE EFFECTIVE UPON RECEIPT OF HAND DELIVERY FIVE
(5) DAYS AFTER MAILING - IF SENT BY MAIL, OR BY EXPRESS COURIER, TO THE
FOLLOWING ADDRESSES, OR SUCH OTHER ADDRESSES AS ANY PARTY MAY NOTIFY THE OTHER
PARTIES IN ACCORDANCE WITH THIS SECTION:
Employee:
Company:
John C. Long
Chief Executive Officer
5222 Wagonwheel Drive
Innovative Solutions and Support, Inc
Schnecksville, PA 18078
720 Pennsylvania Drive
Exton, PA 19341
8.8.
SUCCESSORS AND ASSIGNS.
THIS AGREEMENT WILL
BE BINDING UPON, AND INURE TO THE BENEFIT OF, THE SUCCESSORS AND PERSONAL
REPRESENTATIVES OF THE RESPECTIVE PARTIES HERETO.
8.9.
WAIVER OF PERSONAL LIABILITY.
TO THE EXTENT
PERMITTED BY APPLICABLE LAW, EMPLOYEE HEREBY AGREES THAT HE SHALL HAVE RECOURSE
ONLY TO THE COMPANY (AND ITS SUCCESSORS IN
INTEREST) WITH RESPECT TO ANY CLAIMS HE MAY HAVE FOR COMPENSATION OR BENEFITS
ARISING IN CONNECTION WITH HIS EMPLOYMENT, WHETHER OR NOT UNDER THIS AGREEMENT
OR ANY OTHER PLAN, PROGRAM, OR ARRANGEMENT, INCLUDING, BUT NOT LIMITED TO, ANY
AGREEMENTS RELATED TO THE GRANT OR EXERCISE OF EQUITY OPTIONS OR OTHER EQUITY
RIGHTS IN THE COMPANY.
TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE EMPLOYEE