Common use of Enforcement of Restrictive Covenants Clause in Contracts

Enforcement of Restrictive Covenants. i. The Company and Grantee specifically acknowledge and agree that the remedy at law for any breach of the Restrictive Covenants shall be inadequate, and that in the event Grantee breaches any of the Restrictive Covenants, the Company shall have the right and remedy, without the necessity of proving actual damage or posting any bond, to enjoin, preliminarily and permanently, Grantee from violating the Restrictive Covenants and to have the Restrictive Covenants specifically enforced by any court of competent jurisdiction, it being agreed that any breach of the Restrictive Covenants would cause irreparable injury to the Company and that money damages would not provide an adequate remedy to the Company. Grantee understands and agrees that if he violates any of the obligations set forth in the Restrictive Covenants, the Restricted Period shall cease to run during the pendency of any litigation over such violation, provided that such litigation was initiated during the Restricted Period. Such rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available to the Company at law or in equity. The Company and Grantee understand and agree that, if the Company and Grantee become involved in legal action regarding the enforcement of the Restrictive Covenants, the prevailing party or parties in such legal action shall be entitled, in addition to any other remedy, to recover reasonable costs and attorneys’ fees incurred in enforcing or defending action with respect to such covenants. The Company’s ability to enforce its rights under the Restrictive Covenants or applicable law against Grantee shall not be impaired in any way by the existence of a claim or cause of action on the part of Grantee based on, or arising out of, this Award Certificate or any other event or transaction.

Enforcement of Restrictive Covenants. i. The Company and Grantee specifically acknowledge and agree that the remedy at law for any breach of the Restrictive Covenants shall be inadequate, and that in the event Grantee breaches any of the Restrictive Covenants, the Company shall have the right and remedy, without the necessity of proving actual damage or posting any bond, to enjoin, preliminarily and permanently, Grantee from violating the Restrictive Covenants and to have the Restrictive Covenants specifically enforced by any court of competent jurisdiction, it being agreed that any breach of the Restrictive Covenants would cause irreparable injury to the Company and that money damages would not provide an adequate remedy to the Company. Grantee Xxxxxxx understands and agrees that if he violates any of the obligations set forth in the Restrictive Covenants, the Restricted Period shall cease to run during the pendency of any litigation over such violation, provided that such litigation was initiated during the Restricted Period. Such rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available to the Company at law or in equity. The Company and Grantee understand and agree that, if the Company and Grantee become involved in legal action regarding the enforcement of the Restrictive Covenants, the prevailing party or parties in such legal action shall be entitled, in addition to any other remedy, to recover reasonable costs and attorneys’ fees incurred in enforcing or defending action with respect to such covenants. The Company’s ability to enforce its rights under the Restrictive Covenants or applicable law against Grantee shall not be impaired in any way by the existence of a claim or cause of action on the part of Grantee based on, or arising out of, this Award Certificate or any other event or transaction.

Enforcement of Restrictive Covenants. i. The Company Employee agrees and Grantee specifically acknowledge and agree that the remedy at law for any breach of the Restrictive Covenants shall be inadequate, and acknowledges that in the event Grantee breaches any of a breach or threatened breach by Employee of one or more of the Restrictive Covenantscovenants and promises described above in “Covenants Not to Compete and Not to Solicit,” “Confidential Information,” and “Non Disparagement,” the Company will suffer irreparable harm that is not compensable solely by damages. Employee agrees that under such circumstances, the Company shall have the right and remedybe entitled, without the necessity of proving actual damage or posting any bond, upon application to enjoin, preliminarily and permanently, Grantee from violating the Restrictive Covenants and to have the Restrictive Covenants specifically enforced by any a court of competent jurisdiction, it being agreed that to obtain injunctive or other relief to enforce these promises and covenants. The Company and any breach other member of the Restrictive Covenants would cause irreparable injury Company will, in addition to the Company and that money damages would not provide an adequate remedy remedies provided in this Agreement, be entitled to the Company. Grantee understands and agrees that if he violates any avail itself of the obligations set forth in the Restrictive Covenants, the Restricted Period shall cease to run during the pendency of any litigation over all such violation, provided that such litigation was initiated during the Restricted Period. Such rights and other remedies shall be in addition to, and not in lieu of, any other rights and remedies available to the Company as may now or hereafter exist at law or in equityequity for compensation and for the specific enforcement of the covenants in this Agreement. Resort to any remedy provided for in this Agreement or provided for by law will not prevent the concurrent or subsequent employment of any other appropriate remedy or remedies or preclude the Company or the Company’s recovery of monetary damages and compensation. Arbitration Any and all disputes arising under this Agreement or out of Employee’s employment with the Company will be resolved exclusively by arbitration administered exclusively in New Jersey by JAMS, pursuant to its then-prevailing Employment Arbitration Rules & Procedures, before an arbitrator or arbitrators whose decision shall be final, binding and conclusive on the parties, and judgment on the award may be entered in any court having jurisdiction pursuant to this Agreement. The Company shall bear any and Grantee understand and agree that, if the Company and Grantee become involved in legal action regarding the enforcement all costs of the Restrictive Covenantsarbitration process, the prevailing party or parties in such legal action shall be entitled, in addition to excluding any other remedy, to recover reasonable costs and attorneys’ fees incurred in enforcing or defending action by Employee with respect regard to such covenantsarbitration. The Company’s ability Employee and the Company further acknowledge and agree that their agreement to enforce its rights arbitrate notwithstanding, due to the nature of the confidential information, trade secrets, and intellectual property belonging to the Company to which Employee has been given access, and the likelihood of significant harm that the Company would suffer in the event that such information was disclosed to third parties, nothing in this paragraph shall preclude the Company from seeking declaratory relief or temporary, preliminary or permanent injunctive relief from a court of competent jurisdiction to prevent Employee from violating, or threatening to violate, the terms under the Restrictive “Covenants or applicable law against Grantee shall not be impaired in any way by the existence Not to Compete,” “Confidential Information” and “Non-Disparagement” sections of a claim or cause of action on the part of Grantee based on, or arising out of, this Award Certificate or any other event or transaction.Agreement. Acknowledgment (initial below): Company: Employee: