Common use of Reasonable Clause in Contracts

Reasonable. Executive agrees and acknowledges that the time limitation and the geographic scope on the restrictions in Sections 10 and 11 and their subparts are reasonable. Executive also acknowledges and agrees that the limitation in Sections 10 and 11 and their subparts is reasonably necessary for the protection of the Company, that through this Agreement he shall receive adequate consideration for any loss of opportunity associated with the provisions herein, and that these provisions provide a reasonable way of protecting the Company’s business value which was imparted to him. In the event that any term, word, clause, phrase, provision, restriction, or section of Sections 10 and 11 of this Agreement is more restrictive than permitted by the law of the jurisdiction in which the Company seeks enforcement thereof, the provisions of this Agreement shall be limited only to that extent that a judicial determination finds the same to be unreasonable or otherwise unenforceable. Moreover, notwithstanding any judicial determination that any term, word, clause, phrase, provision, restriction, or section of this Agreement is not specifically enforceable, the parties intend that the Company shall nonetheless be entitled to recover monetary damages as a result of any breach hereof.

Appears in 7 contracts

Samples: Executive Employment Agreement (Nexgel, Inc.), Executive Employment Agreement (Domain Media Corp), Executive Employment Agreement (Issuer Direct Corp)

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Reasonable. Executive agrees and acknowledges that the time limitation and the geographic scope on the restrictions in Sections 10 and 11 and their subparts are reasonable. Executive also acknowledges and agrees that the limitation in Sections 10 and 11 and their subparts is reasonably necessary for the protection of the Company, that through this Agreement he shall receive adequate consideration for any loss of opportunity associated with the provisions herein, and that these provisions provide a reasonable way of protecting the Company’s business value which was imparted to him. In the event that any term, word, clause, phrase, provision, restriction, or section of Sections 10 and 11 of this Agreement is more restrictive than permitted by the law of the jurisdiction in which the Company seeks enforcement thereof, the provisions of this Agreement shall be limited only to that extent that a judicial determination finds the same to be unreasonable or otherwise unenforceable. Moreover, notwithstanding any judicial determination that any term, word, clause, phrase, provision, restriction, or section of this Agreement is not specifically enforceable, the parties Parties intend that the Company shall nonetheless be entitled to recover monetary damages as a result of any breach hereof.

Appears in 1 contract

Samples: Executive Employment Agreement (Issuer Direct Corp)

Reasonable. Executive agrees You agree and acknowledges acknowledge that the time limitation and the geographic scope on the restrictions in Sections this paragraph 10 and 11 and their its subparts are reasonable. Executive You also acknowledges acknowledge and agrees agree that the limitation in Sections this paragraph 10 and 11 and their its subparts is reasonably necessary for the protection of the Company, that through the compensation and other benefits provided under this Agreement he and your prior agreements with the Company you shall receive adequate consideration for any loss of opportunity associated with the provisions herein, and that these provisions provide a reasonable way of protecting the Company’s business value which was imparted to himyou. In the event that any term, word, clause, phrase, provision, restriction, or section of Sections this paragraph 10 and 11 of this Agreement is more restrictive than permitted by the law of the jurisdiction in which the Company seeks enforcement thereof, the provisions of this Agreement shall be limited only to that the extent that a judicial determination finds the same to be unreasonable or otherwise unenforceable. Moreover, notwithstanding any judicial determination that any term, word, clause, phrase, provision, restriction, or section of this Agreement is not specifically enforceable, the parties Company and you intend that the Company shall nonetheless be entitled to recover monetary damages as a result of any breach hereof.

Appears in 1 contract

Samples: Myogen Inc

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Reasonable. Executive Employee agrees and acknowledges that the time limitation and the geographic scope on the restrictions in Sections 9 and 10 and 11 and their subparts are reasonable. Executive Employee also acknowledges and agrees that the limitation in Sections 9 and 10 and 11 and their subparts is reasonably necessary for the protection of the Company, that through this Agreement he shall receive adequate consideration for any loss of opportunity associated with the provisions herein, and that these provisions provide a reasonable way of protecting the Company’s business value which was imparted to him. In the event that any term, word, clause, phrase, provision, restriction, or section of Sections 9 and 10 and 11 of this Agreement is more restrictive than permitted by the law of the jurisdiction in which the Company seeks enforcement thereof, the provisions of this Agreement shall be limited only to that extent that a judicial determination finds the same to be unreasonable or otherwise unenforceable. Moreover, notwithstanding any judicial determination that any term, word, clause, phrase, provision, restriction, or section of this Agreement is not specifically enforceable, the parties Parties intend that the Company shall nonetheless be entitled to recover monetary damages as a result of any breach hereof.

Appears in 1 contract

Samples: Employment Agreement (Issuer Direct Corp)

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