Common use of Consideration for Restrictions and Covenants Clause in Contracts

Consideration for Restrictions and Covenants. The parties hereto acknowledge and agree that the principal consideration for the agreement to make the payments provided in Sections 4, 5, 6 and 10 hereof from the Company to the Executive and the grant to the Executive of the options of the Company as set forth herein is the Executive's compliance with the undertakings set forth in this Section 11. Specifically, the Executive agrees to comply with the provisions of this Section 11 irrespective of whether the Executive is entitled to receive any payments under Sections 4, 5, 6 or 10 of this Agreement.

Appears in 1 contract

Samples: Separation and Release Agreement (Lodgian Inc)

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Consideration for Restrictions and Covenants. The parties hereto acknowledge and agree that the principal consideration for the agreement to make the payments provided in Sections 4, 5, 6 3 and 10 4 hereof from the Company to the Executive and the grant to the Executive of the stock options and stock units of the Company as set forth herein in Section 2 hereof is the Executive's compliance with the undertakings set forth in this Section 1110. Specifically, the Executive agrees to comply with the provisions of this Section 11 10 irrespective of whether the Executive is entitled to receive any payments under Sections 4, 5, 6 Section 3 or 10 4 of this Agreement.

Appears in 1 contract

Samples: Retention Agreement (Toys R Us Inc)

Consideration for Restrictions and Covenants. The parties hereto acknowledge and agree that the principal consideration for the agreement to make the payments provided in Sections 4, 5, 6 6, 7 and 10 11 hereof from the Company to the Executive and the grant to the Executive of the options of the Company as set forth herein is the Executive's compliance with the undertakings set forth in this Section 1112. Specifically, the Executive agrees to comply with the provisions of this Section 11 12 irrespective of whether the Executive is entitled to receive any payments under Sections 4, 5, 6 6, 7 or 10 11 of this Agreement.

Appears in 1 contract

Samples: Separation and Release Agreement (Lodgian Inc)

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Consideration for Restrictions and Covenants. The parties hereto acknowledge and agree that the principal consideration for the agreement to make the payments provided in Sections 4, 5, 6 3 and 10 4 hereof from the Company to the Executive and the grant to the Executive of the options stock units of the Company as set forth herein in Section 2 hereof is the Executive's compliance with the undertakings set forth in this Section 1110. Specifically, the Executive agrees to comply with the provisions of this Section 11 10 irrespective of whether the Executive is entitled to receive any payments under Sections 4, 5, 6 Section 3 or 10 4 of this Agreement.

Appears in 1 contract

Samples: Retention Agreement (Toys R Us Inc)

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