Common use of Acknowledgment by Executive Clause in Contracts

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 (including without limitation the length of the term of the provisions of this Section 7) are reasonably necessary to protect the legitimate business interests of the Company and its Related Entities, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section 7. The Executive further acknowledges that the restrictions contained in this Section 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7, the Company shall be entitled to seek in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entities, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7.

Appears in 11 contracts

Samples: Employment Agreement (Insmed Inc), Employment Agreement (Insmed Inc), Employment Agreement (Insmed Inc)

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Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section Article 7 (including without limitation the length of the term of the provisions of this Section Article 7) are reasonably necessary to protect the legitimate business interests of the Company and its Related EntitiesCompany, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section Article 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section Article 7 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section Article 7. The Executive further acknowledges that the restrictions contained in this Section Article 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7Article 6, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(iArticle 7(h) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entitiesaffiliates, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section Article 7.

Appears in 8 contracts

Samples: Employment Agreement (Abakan, Inc), Employment Agreement (SONNEN Corp), Employment Agreement (SONNEN Corp)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 5 (including without limitation the length of the term of the provisions of this Section 75) are reasonably necessary to protect the legitimate business interests of the Company and its Related EntitiesSubsidiaries, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for all of the duties and obligations of the Executive hereunderto the Company and its Subsidiaries, including the restrictive covenants contained in this Section 75, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 5 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him the Executive and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities Subsidiaries is such as would cause the Company and its Related Entities Subsidiaries serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities Subsidiaries in violation of the terms of this Section 75. The Executive further acknowledges that the restrictions contained in this Section 7 5 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 75, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to (i) seek temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i5(j) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related EntitiesSubsidiaries, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 75.

Appears in 7 contracts

Samples: Employment Agreement (Schottenstein Realty Trust, Inc.), Employment Agreement (Schottenstein Realty Trust, Inc.), Employment Agreement (Schottenstein Realty Trust, Inc.)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section Article 7 (including without limitation the length of the term of the provisions of this Section Article 7) are reasonably necessary to protect the legitimate business interests of the Company and its Related EntitiesCompany, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section Article 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section Article 7 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section Article 7. The Executive further acknowledges that the restrictions contained in this Section Article 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7Article 6, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) 7(i hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entities, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7.

Appears in 5 contracts

Samples: Employment Agreement (Terremark Worldwide Inc), Employment Agreement (Terremark Worldwide Inc), Employment Agreement (Terremark Worldwide Inc.)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 (including without limitation the length of the term of the provisions of this Section 7) are reasonably necessary to protect the legitimate business interests of the Company and its Related Entities, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section 7. The Executive further acknowledges that the restrictions contained in this Section 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entities, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7.

Appears in 4 contracts

Samples: Executive Employment Agreement (SeqLL, Inc.), Employment Agreement (Reven Housing REIT, Inc.), Executive Employment Agreement (SeqLL, Inc.)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 (including without limitation the length of the term of the provisions of this Section 7) are reasonably necessary to protect the legitimate business interests of the Company Insmed and its Related EntitiesAffiliates, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his her full, uninhibited and faithful observance of each of the covenants contained in this Section 7 will not cause him her any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his her ability to obtain employment commensurate with his her abilities and on terms fully acceptable to him her or otherwise to obtain income required for the comfortable support of him her and his her family and the satisfaction of the needs of his her creditors. The Executive acknowledges and confirms that his her special knowledge of the business of the Company Insmed and its Related Entities Affiliates is such as would cause the Company Insmed and its Related Entities Affiliates serious injury or loss if he she were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company Insmed or its Related Entities Affiliates in violation of the terms of this Section 7. The Executive further acknowledges that the restrictions contained in this Section 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the CompanyInsmed’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7, the Company Insmed shall be entitled to seek in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company Insmed or its Related EntitiesAffiliates, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7.

Appears in 3 contracts

Samples: Employment Agreement (INSMED Inc), Employment Agreement (INSMED Inc), Employment Agreement (INSMED Inc)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 (including without limitation the length of the term of the provisions of this Section 7) are reasonably necessary to protect the legitimate business interests of the Company Insmed and its Related EntitiesAffiliates, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company Insmed and its Related Entities Affiliates is such as would cause the Company Insmed and its Related Entities Affiliates serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company Insmed or its Related Entities Affiliates in violation of the terms of this Section 7. The Executive further acknowledges that the restrictions contained in this Section 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the CompanyInsmed’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7, the Company Insmed shall be entitled to seek in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company Insmed or its Related EntitiesAffiliates, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7.

Appears in 3 contracts

Samples: Employment Agreement (INSMED Inc), Employment Agreement (INSMED Inc), Employment Agreement (INSMED Inc)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 Article 6 (including without limitation the length of the term of the provisions of this Section 7Restricted Period) are reasonably necessary to protect the legitimate business interests of the Company and its Related EntitiesCompany, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7Article 6, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 Article 6 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities Confidential Information is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge Confidential Information to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section 7Article 6. The Executive further acknowledges that the restrictions restrictive covenants contained in this Section 7 Article 6 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7Article 6, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to to: (ia) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) 6.9 hereof, ; and (iib) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entitiesaffiliates, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7Article 6.

Appears in 3 contracts

Samples: Employment Agreement (Loop Media, Inc.), Employment Agreement (Loop Media, Inc.), Employment Agreement (Loop Media, Inc.)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 (including without limitation the length of the term of the provisions of this Section 7) are reasonably necessary to protect the legitimate business interests of the Company and its Related Entities, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities is such as would may cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section 7. The Executive further acknowledges that the restrictions contained in this Section 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7, the Company shall be entitled to seek in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entities, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7.

Appears in 3 contracts

Samples: Employment Agreement (INSMED Inc), Employment Agreement (INSMED Inc), Employment Agreement (INSMED Inc)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 (including without limitation the length of the term of the provisions of this Section 7) are reasonably necessary to protect the legitimate business interests of the Company and its Related Entities, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his her full, uninhibited and faithful observance of each of the covenants contained in this Section 7 will not cause him her any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his her ability to obtain employment commensurate with his her abilities and on terms fully acceptable to him her or otherwise to obtain income required for the comfortable support of him her and his her family and the satisfaction of the needs of his her creditors. The Executive acknowledges and confirms that his her special knowledge of the business of the Company and its Related Entities is such as would cause the Company and its Related Entities serious injury or loss if he she were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section 7. The Executive further acknowledges that the restrictions contained in this Section 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7, the Company shall be entitled to seek in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entities, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7.

Appears in 3 contracts

Samples: Employment Agreement (INSMED Inc), Employment Agreement (Insmed Inc), Employment Agreement (Insmed Inc)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 Article 6 (including without limitation the length of the term of the provisions of this Section 7Article 6) are reasonably necessary to protect the legitimate business interests of the Company and its Related EntitiesCompany, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7Article 6, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 Article 6 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section 7Article 6. The Executive further acknowledges that the restrictions contained in this Section 7 Article 6 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7Article 6, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to (ia) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) 6.10 hereof, and (iib) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entitiesaffiliates, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7Article 6.

Appears in 3 contracts

Samples: Employment Agreement (Correctional Properties Trust), Employment Agreement (Correctional Properties Trust), Employment Agreement (Sequiam Corp)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 (including without limitation the length of the term of the provisions of this Section 7) are reasonably necessary to protect the legitimate business interests of the Company and its Related EntitiesAffiliates, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities Affiliates is such as would cause the Company and its Related Entities Affiliates serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities Affiliates in violation of the terms of this Section 7. The Executive further acknowledges that the restrictions contained in this Section 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related EntitiesAffiliates, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7.

Appears in 2 contracts

Samples: Employment Agreement (Reven Housing REIT, Inc.), Employment Agreement (Reven Housing REIT, Inc.)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 5 (including without limitation the length of the term of the provisions of this Section 75) are reasonably necessary to protect the legitimate business interests of the Company and its Related EntitiesSubsidiaries, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for all of the duties and obligations of the Executive hereunderto the Company and its Subsidiaries, including the restrictive covenants contained in this Section 75, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 5 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him the Executive and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities Subsidiaries is such as would cause the Company and its Related Entities Subsidiaries serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities Subsidiaries in violation of the terms of this Section 75. The Executive further acknowledges that the restrictions contained in this Section 7 5 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 75, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to (i) seek temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i5(g) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related EntitiesSubsidiaries, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 75.

Appears in 1 contract

Samples: Employment Agreement (Schottenstein Realty Trust, Inc.)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 Article 6 (including without limitation the length of the term of the provisions of this Section 7Article 6) are reasonably necessary to protect the legitimate business interests of the Company and its Related EntitiesCompanies, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7Article 6, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 Article 6 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities Companies is such as would cause the Company and its Related Entities Companies serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities Companies in violation of the terms of this Section 7Article 6. The Executive further acknowledges that the restrictions contained in this Section 7 Article 6 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s Companies' successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7Article 6, the Company Companies shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to (ia) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in jurisdiction, (b) the recovery of any bonuses paid or payable to the Executive under Section 7(i3.2(a) hereofor (b) hereof for the two years ending on the Date of Termination, and (iic) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company Companies or its Related Entitiestheir affiliates, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7Article 6.

Appears in 1 contract

Samples: Employment Agreement (Systemax Inc)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 Article 6 (including without limitation the length of the term of the provisions of this Section 7Restricted Period) are reasonably necessary to protect the legitimate business interests of the Company and its Related EntitiesCompany, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7Article 6, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 Article 6 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities Confidential Information is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge Confidential Information to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section 7Article 6. The Executive further acknowledges that the restrictions restrictive covenants contained in this Section 7 Article 6 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s 's successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7Article 6, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to to: (ia) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) 6.9 hereof, ; and (iib) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entitiesaffiliates, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7Article 6.

Appears in 1 contract

Samples: Employment Agreement (Loop Media, Inc.)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 9 are a principal inducement for the willingness of Company to enter into this Agreement and make the payments and provide the benefits to Executive under this Agreement and that Company and Executive intend the covenants to be binding upon and enforceable against Executive in accordance with their terms, notwithstanding any common or statutory law to the contrary. Executive agrees that the obligations of Company under this Agreement (including without limitation specifically including, but not limited to, the length obligation to make any payment or provide any benefit under paragraphs (B), (C), (D), (E)(F) and (G) of Section 4 or Section 6) constitute sufficient consideration for the term of the provisions of covenants contained in this Section 7) 9. Company and Executive further agree that the restrictions contained in this Section 9 are reasonably reasonable in period, scope and geographical area and are necessary to protect the legitimate business interests and Confidential Information of the Company and its Related Entities, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kindSubsidiaries. The Executive further acknowledges and confirms agrees that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 he will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the notify Company and its Related Entities is such as would cause Subsidiaries in writing if he has, or reasonably should have, any questions regarding the applicability of this Section 9. Because Executive’s services are unique and because Executive has access to Confidential Information, the parties agree that Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to Subsidiaries would be damaged irreparably in the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section 7. The Executive further acknowledges that the restrictions contained in this Section 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon event any breach or violation of the provisions of this Section 79 were not performed in accordance with their specific terms or were otherwise breached and that money damages would be an inadequate remedy for any such non-performance or breach. In the event that Executive breaches or threatens to breach any such provision of this Section 9, the parties agree that Company and its Subsidiaries shall be entitled to seek in addition to any other rights or remedies it may haveand all equitable and legal relief provided by law, to (i) temporary and/or specifically including immediate and permanent injunctive relief in to prevent any court of competent jurisdiction as described in Section 7(i) hereof, and (ii) such damages as are provided at law breach or in equity. The existence threatened breach of any of such provisions and to enforce such provisions specifically (without posting a bond or other security). Executive hereby waives any claim or cause of action against the that Company or its Related Entities, whether predicated upon this Agreement or otherwise, Subsidiaries have an adequate remedy at law. The parties agree that the foregoing relief shall not constitute a defense be construed to limit or otherwise restrict the enforcement ability of Company and its Subsidiaries to pursue any other remedy provided by law, including the restrictions contained in this Section 7recovery of any actual, compensatory or punitive damages.

Appears in 1 contract

Samples: Change in Control Agreement (Central Vermont Public Service Corp)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 Article 6 (including without limitation the length of the term of the provisions of this Section 7Article 6) are reasonably necessary to protect the legitimate business interests interest of the Company and its Related EntitiesCompany, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7Article 6, and that such compensation is sufficient, fair reasonable and reasonablesufficient for purposes of the enforcement of the restrictive covenants contained in this Article 6. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 Article 6 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section 7Article 6. The Executive further acknowledges that the restrictions contained in this Section 7 Article 6 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7Article 6, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to (ia) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described provided in Section 7(i) 6.10 hereof, and (iib) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entitiesaffiliates, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7.Article 6

Appears in 1 contract

Samples: Employment Agreement (DDS Technologies Usa Inc)

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Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 (including without limitation the length of the term of the provisions of this Section 7) are reasonably necessary to protect the legitimate business interests of the Company and its Related Entities, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditorsabilities. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section 7. The Executive further acknowledges that the restrictions contained in this Section 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees assigns and that upon any breach or violation of the provisions of this Section 7, the Company shall be entitled to seek in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entities, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 77 (other than subsection (a) solely with respect to any claim or cause of action of Executive against the Company predicated upon this Agreement and/or any Award Agreement entered into in furtherance of this Agreement).

Appears in 1 contract

Samples: Employment Agreement (FlexShopper, Inc.)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 (including without limitation the length of the term of the provisions of this Section 7) are reasonably necessary to protect the legitimate business interests of the Company and its Related Entities, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his her full, uninhibited and faithful observance of each of the covenants contained in this Section 7 will not cause him her any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his her ability to obtain employment commensurate with his her abilities and on terms fully acceptable to him her or otherwise to obtain income required for the comfortable support of him her and his her family and the satisfaction of the needs of his her creditors. The Executive acknowledges and confirms that his her special knowledge of the business of the Company and its Related Entities is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section 7. The Executive further acknowledges that the restrictions contained in this Section 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7, the Company shall be entitled to seek in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entities, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7.

Appears in 1 contract

Samples: Employment Agreement (INSMED Inc)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section Article 7 (including without limitation the length of the term of the provisions of this Section Article 7) are reasonably necessary to protect the legitimate business interests of the Company and its Related EntitiesCompany, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section Article 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section Article 7 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section Article 7. The Executive further acknowledges that the restrictions contained in this Section Article 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s 's successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section Article 7, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section Article 7(i) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entitiesaffiliates, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section Article 7.

Appears in 1 contract

Samples: Employment Agreement (Abakan, Inc)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section Article 7 (including without limitation the length of the term of the provisions of this Section Article 7) are reasonably necessary to protect the legitimate business interests of the Company and its Related EntitiesCompany, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section Article 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his her full, uninhibited and faithful observance of each of the covenants contained in this Section Article 7 will not cause him her any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his her ability to obtain employment commensurate with his her abilities and on terms fully acceptable to him her or otherwise to obtain income required for the comfortable support of him her and his her family and the satisfaction of the needs of his her creditors. The Executive acknowledges and confirms that his her special knowledge of the business of the Company and its Related Entities is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section Article 7. The Executive further acknowledges that the restrictions contained in this Section Article 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7Article 6, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) 7(i hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entities, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7.

Appears in 1 contract

Samples: Employment Agreement (Terremark Worldwide Inc.)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section Article 7 (including without limitation the length of the term of the provisions of this Section Article 7) are reasonably necessary to protect the legitimate business interests of the Company and its Related EntitiesCompany, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section Article 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section Article 7 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section Article 7. The Executive further acknowledges that the restrictions contained in this Section Article 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section Article 7, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section Article 7(i) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entitiesaffiliates, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section Article 7.

Appears in 1 contract

Samples: Employment Agreement (Arvana Inc)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 (including without limitation the length of the term of the provisions of this Section 7) are reasonably necessary to protect the legitimate business interests of the Company and its Related Entities, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section 7. The Executive further acknowledges that the restrictions contained in this Section 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i7(g) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entities, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7.

Appears in 1 contract

Samples: Employment Agreement (Cocrystal Pharma, Inc.)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 (including without limitation the length of the term of the provisions of this Section 7) are reasonably necessary to protect the legitimate business interests of the Company and its Related EntitiesGroup, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities Group is such as would cause the Company and its Related Entities Group serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities Group in violation of the terms of this Section 7. The Executive further acknowledges that the restrictions contained in this Section 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i7(h) hereof, without being required to post any bond, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related EntitiesGroup, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7.

Appears in 1 contract

Samples: Executive Employment Agreement (ARKO Corp.)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 Article 6 (including without limitation the length of the term of the provisions of this Section 7Article 6) are reasonably necessary to protect the legitimate business interests of the Company and its Related EntitiesCompany, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7Article 6, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 Article 6 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section 7Article 6. The Executive further acknowledges that the restrictions contained in this Section 7 Article 6 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s 's successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7Article 6, the Company shall be entitled to seek entitled, as a matter of right, in addition to any other rights or remedies it may have, to (ia) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) 6.10 hereof, and (iib) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entitiesaffiliates, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7Article 6.

Appears in 1 contract

Samples: Employment Agreement (Sinofresh Healthcare Inc)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 9 are a principal inducement for the willingness of Company to enter into this Agreement and make the payments and provide the benefits to Executive under this Agreement and that Company and Executive intend the covenants to be binding upon and enforceable against Executive in accordance with their terms, notwithstanding any common or statutory law to the contrary. Executive agrees that the obligations of Company under this Agreement (including without limitation specifically including, but not limited to, the length obligation to make any payment or provide any benefit under paragraphs (B), (C), (D), (E) and (F) of Section 4 or Section 6) constitute sufficient consideration for the term of the provisions of covenants contained in this Section 7) 9. Company and Executive further agree that the restrictions contained in this Section 9 are reasonably reasonable in period, scope and geographical area and are necessary to protect the legitimate business interests and Confidential Information of the Company and its Related Entities, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kindSubsidiaries. The Executive further acknowledges and confirms agrees that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 he will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the notify Company and its Related Entities is such as would cause Subsidiaries in writing if he has, or reasonably should have, any questions regarding the applicability of this Section 9. Because Executive’s services are unique and because Executive has access to Confidential Information, the parties agree that Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to Subsidiaries would be damaged irreparably in the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section 7. The Executive further acknowledges that the restrictions contained in this Section 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon event any breach or violation of the provisions of this Section 79 were not performed in accordance with their specific terms or were otherwise breached and that money damages would be an inadequate remedy for any such non-performance or breach. In the event that Executive breaches or threatens to breach any such provision of this Section 9, the parties agree that Company and its Subsidiaries shall be entitled to seek in addition to any other rights or remedies it may haveand all equitable and legal relief provided by law, to (i) temporary and/or specifically including immediate and permanent injunctive relief in to prevent any court of competent jurisdiction as described in Section 7(i) hereof, and (ii) such damages as are provided at law breach or in equity. The existence threatened breach of any of such provisions and to enforce such provisions specifically (without posting a bond or other security). Executive hereby waives any claim or cause of action against the that Company or its Related Entities, whether predicated upon this Agreement or otherwise, Subsidiaries have an adequate remedy at law. The parties agree that the foregoing relief shall not constitute a defense be construed to limit or otherwise restrict the enforcement ability of Company and its Subsidiaries to pursue any other remedy provided by law, including the restrictions contained in this Section 7recovery of any actual, compensatory or punitive damages.

Appears in 1 contract

Samples: Change in Control Agreement (Central Vermont Public Service Corp)

Acknowledgment by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Section 7 (including without limitation the length of the term of the provisions of this Section 7) are reasonably necessary to protect the legitimate business interests of the Company and its Related Entities, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in this Section 7, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 7 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditorsabilities. The Executive acknowledges and confirms that his special knowledge of the business of the Company and its Related Entities is such as would cause the Company and its Related Entities serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company or its Related Entities in violation of the terms of this Section 7. The Executive further acknowledges that the restrictions contained in this Section 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees that upon any breach or violation of the provisions of this Section 7, the Company shall be entitled to seek entitled, as a matter or right, in addition to any other rights or remedies it may have, to (i) temporary and/or permanent injunctive relief in any court of competent jurisdiction as described in Section 7(i) hereof, and (ii) such damages as are provided at law or in equity. The existence of any claim or cause of action against the Company or its Related Entities, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement of the restrictions contained in this Section 7.

Appears in 1 contract

Samples: Employment Agreement (FlexShopper, Inc.)

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