Common use of Clawback of Certain Compensation and Benefits Clause in Contracts

Clawback of Certain Compensation and Benefits. If, after the termination of the Executive’s employment with the Company for any reason other than by the Company for Cause, a court of competent jurisdiction determines that the Executive breached Sections 7 hereof and has issued an injunction against the Executive in accordance with Section 7(i) hereof, then, in addition to any other remedy that may be available to the Company in law or equity and/or pursuant to any other provisions of this Agreement, the Executive’s employment shall be deemed to have been terminated for Cause retroactively to the Termination Date and the Executive also shall be subject to the following provisions:

Appears in 6 contracts

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

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Clawback of Certain Compensation and Benefits. If, after the termination of the Executive’s employment with the Company for any reason other than reason, the Executive breaches any of the provisions of Section 7 (a), (b), (c), or (d) as determined by the Company for Cause, a court of competent jurisdiction determines that the Executive breached Sections 7 hereof and has issued an injunction against the Executive in accordance with Section 7(i) hereofjurisdiction, then, in addition to any other remedy that may be available to the Company in law or equity and/or pursuant to any other provisions of this Agreement, the Executive’s employment shall be deemed to have been terminated for Cause retroactively to the Termination Date and the Executive also shall be subject to the following provisions:

Appears in 2 contracts

Samples: Employment Agreement (FlexShopper, Inc.), Employment Agreement (FlexShopper, Inc.)

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