Common use of Penalty for Violation Clause in Contracts

Penalty for Violation. In the event it is determined that the Executive has violated the provisions of this Section 12, the Executive, without any further action by the Company or Executive, shall forfeit, as of the first day of any such violation any amount owed to Executive under Section 6(b), other than the Accrued Benefits. The Company shall be entitled to reimbursement from the Executive of any fees and expenses (including attorneys’ fees) incurred by or on behalf of the Company in enforcing the Company’s rights under this Section 12. By entering into this Agreement, the Executive hereby consents to a deduction from any amounts the Company owes to Executive from time to time (including amounts owed to the Executive as compensation as well as any other amounts owed to Executive by the Company), to the extent of any amounts that the Executive owes to the Company under this Section 12 as a forfeiture following a payment to the Executive under Section 6(b), other than Accrued Benefits, to which he is no longer entitled due to such violation. Whether or not the Company elects to make any set-off in whole or in part, if the Company does not recover by means of set-off the full amount the Executive owes to the Company, the Executive agrees to pay immediately the unpaid balance to the Company.

Penalty for Violation. In the event it is determined that the Executive has violated the provisions of this Section 1211, the Executive, without any further action by the Company or Executive, shall forfeit, as of the first day of any such violation any amount owed to Executive under Section 6(b), other than the Accrued Benefits. The Company shall be entitled to reimbursement from the Executive of any fees and expenses (including attorneys’ fees) incurred by or on behalf of the Company in enforcing the Company’s rights under this Section 1211. By entering into this Agreement, the Executive hereby consents to a deduction from any amounts the Company owes to Executive from time to time (including amounts owed to the Executive as compensation as well as any other amounts owed to Executive by the Company), to the extent of any amounts that the Executive owes to the Company under this Section 12 11 as a forfeiture following a payment to the Executive under Section 6(b), other than Accrued Benefits, to which he is no longer entitled due to such violation. Whether or not the Company elects to make any set-off in whole or in part, if the Company does not recover by means of set-off the full amount the Executive owes to the Company, the Executive agrees to pay immediately the unpaid balance to the Company.

Penalty for Violation. In the event it is determined that the Executive has violated the provisions of this Section 1210, the Executive, without any further action by the Company or Executive, shall forfeit, as of the first day of any such violation any amount owed to Executive under Section 6(b), other than the Accrued Benefits. The Company shall be entitled to reimbursement from the Executive of any fees and expenses (including attorneys’ fees) incurred by or on behalf of the Company in enforcing the Company’s rights under this Section 1210. By entering into this Agreement, the Executive hereby consents to a deduction from any amounts the Company owes to Executive from time to time (including amounts owed to the Executive as compensation as well as any other amounts owed to Executive by the Company), to the extent of any amounts that the Executive owes to the Company under this Section 12 10 as a forfeiture following a payment to the Executive under Section 6(b), other than Accrued Benefits, to which he is no longer entitled due to such violation. Whether or not the Company elects to make any set-off in whole or in part, if the Company does not recover by means of set-off the full amount the Executive owes to the Company, the Executive agrees to pay immediately the unpaid balance to the Company.

Penalty for Violation. In the event it is determined that the Executive has violated the provisions of this Section 129, the Executive, without any further action by the Company or Executive, shall forfeit, as of the first day of any such violation any amount owed to Executive under Section 6(b), other than the Accrued Benefits. The Company shall be entitled to reimbursement from the Executive of any fees and expenses (including attorneys’ fees) incurred by or on behalf of the Company in enforcing the Company’s rights under this Section 129. By entering into this Agreement, the Executive hereby consents to a deduction from any amounts the Company owes to Executive from time to time (including amounts owed to the Executive as compensation as well as any other amounts owed to Executive by the Company), to the extent of any amounts that the Executive owes to the Company under this Section 12 9 as a forfeiture following a payment to the Executive under Section 6(b), other than Accrued Benefits, to which he is no longer entitled due to such violation. Whether or not the Company elects to make any set-off in whole or in part, if the Company does not recover by means of set-off the full amount the Executive owes to the Company, the Executive agrees to pay immediately the unpaid balance to the Company.