Common use of Executive Acknowledgments Clause in Contracts

Executive Acknowledgments. Executive acknowledges and agrees that (i) the Company is engaged in a highly competitive business; (ii) as a result of Executive’s employment with the Company, Executive has been granted, and may be granted further, equity or rights to acquire equity in the Company or an Affiliate; (iii) the Company has expended considerable time and resources to develop goodwill with its Business Partners and others, and to create, protect, and exploit its Confidential Information; (iv) the Company must continue to prevent the dilution of its goodwill and unauthorized use or disclosure of its Confidential Information to avoid irreparable harm to its legitimate business interests; (v) Executive’s participation in or direction of the Company’s day-to-day operations and strategic planning is an integral part of the Company’s continued success and goodwill; (vi) given his position and responsibilities, Executive is a fiduciary of the Company and necessarily will be creating Confidential Information that belongs to the Company and enhances the Company’s goodwill, and in carrying out his responsibilities Executive in turn will be relying on the Company’s goodwill and the disclosure by the Company to him of Confidential Information; and (vii) Executive will have access to Confidential Information that could be used by unauthorized third parties in a manner that would irreparably harm the Company’s competitive position in the marketplace and dilute its goodwill.