Arbitration; remedy; violation of non-competition agreement
Arbitration; Remedy; Violation of Non-Competition Agreement Sample Clauses
Arbitration; Remedy; Violation of Non-Competition Agreement. Except as expressly set forth below, after exhaustion of any administrative appeals required under the terms of the Plan, any dispute or controversy as to the interpretation, construction, application or enforcement of, or otherwise arising under or in connection with this Agreement, shall be submitted for mandatory, final and binding arbitration in the City of Wilmington, Delaware, in accordance with the commercial arbitration rules then prevailing of the American Arbitration Association. In this regard, I hereby waive the right to submit any controversy or dispute to a Court and/or a jury. Any award rendered by the arbitrator shall provide the full remedies available to the parties under the applicable law, including injunctive relief, and shall be final and binding on each of the parties hereto and their heirs, executors, administrators, successors and assigns and judgment may be entered thereon in any court having jurisdiction. The prevailing party in any such arbitration shall be entitled to an award by the arbitrator of all reasonable attorneys' fees and expenses incurred in connection with the arbitration. I hereby acknowledge and agree that Delta's remedy at law for any breach of the covenants contained in Paragraphs 9, 10 or 12 would be inadequate and that for any breach of any such covenant, Delta shall, in addition to other remedies as may be available to it at law or in equity, or as provided for in this Agreement, be entitled to an injunction, restraining order or other equitable relief, without the necessity of posting a bond, restraining me from continuing to commit any violation of the covenants. Furthermore, I agree that without limiting the foregoing, should I violate the Non-Competition Agreement set forth in Paragraph 11 above, I (a) shall not be entitled to and shall fully forfeit any benefits under the Plan (b) shall return all Severance Pay (as defined in the Plan) benefits I have received under the Plan; and (c) shall fully reimburse Delta and/or the Plan for all expenses incurred and/or payments made by Delta and/or the Plan to provide all other benefits I have received under the Plan, including but not limited to all medical, dental and life insurance benefits; travel benefits; and career transition and financial planning services.