Common use of Contractual Penalty Clause in Contracts

Contractual Penalty. 1. For each instance of contravention of the restraint of competition within the meaning of §10 or of the confidentiality obligation pursuant to § 8, the Member of the Management Board shall pay a contractual penalty in an amount corresponding to the average monthly remuneration received over the 12 months preceding his departure pursuant to § 3, Paragraph 1 of this Agreement.

Contractual Penalty. 1. For each instance of contravention of the restraint of competition within the meaning of §10 or of the confidentiality secrecy obligation pursuant to § 8, the Member of the Management Board Member shall pay a contractual penalty in an amount corresponding to the average monthly remuneration received over the 12 months preceding his departure pursuant to § 3, Paragraph 1 of this Agreement.

Contractual Penalty. 1. For each instance of contravention of the restraint of competition within the meaning of §§ 10 or of the confidentiality secrecy obligation pursuant to § 8, the Member of the Management Board Member shall pay a contractual penalty in an amount corresponding to the average monthly remuneration received over the 12 months preceding his departure pursuant to § 3, Paragraph 1 of this Agreement.

Contractual Penalty. 1. For each instance of contravention of the restraint of competition within the meaning of §10 or of the confidentiality obligation pursuant to § 8, the Member of the Management Board Chief Executive Officer shall pay a contractual penalty in an amount corresponding to the average monthly remuneration received over the 12 months preceding his departure pursuant to § 3, Paragraph 1 of this Agreement.

Contractual Penalty. 1. For each instance of contravention of the restraint of competition within the meaning of §10 or of the confidentiality secrecy obligation pursuant to § 8, the Member of the Management Board Chief Executive Officer shall pay a contractual penalty in an amount corresponding to the average monthly remuneration received over the 12 months preceding his departure pursuant to § 3, Paragraph 1 of this Agreement.