Common use of Sole Consideration Clause in Contracts

Sole Consideration. Employee and the Company agree and acknowledge that the sole and exclusive consideration for the Incentive Payments is Employee’s forbearance as described in subsection 7(h)(iii) above. In the event that subsection 7(h)(iii) is deemed unenforceable or invalid for any reason, then the Company will have no obligation to make Incentive Payments for the period of time during which it has been deemed unenforceable or invalid. The obligations and duties of this subsection 7(h) shall be separate and distinct from the other obligations and duties set forth in this Agreement, and any finding of invalidity or unenforceability of this subsection 7(h) shall have no effect upon the validity or invalidity of the other provisions of this Agreement.

Appears in 20 contracts

Samples: Officer Employment Agreement (Callaway Golf Co), Officer Employment Agreement (Callaway Golf Co /Ca), Officer Employment Agreement (Callaway Golf Co)

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Sole Consideration. Employee and the Company agree and acknowledge that the sole and exclusive consideration for the Incentive Payments is Employee’s 's forbearance as described in subsection 7(h)(iiiSubsection 7(c)(i) above. In the event that subsection 7(h)(iiiSubsection 7(c)(i) is deemed unenforceable or invalid for any reason, then the Company will have no obligation to make Incentive Payments for the period of time during which it has been deemed unenforceable or invalid. The obligations and duties of this subsection 7(hSubsection 7(c) shall be separate and distinct from the other obligations and duties set forth in this Agreement, and any finding of invalidity or unenforceability of this subsection 7(hSubsection 7(c) shall have no effect upon the validity or invalidity of the other provisions of this Agreement.

Appears in 7 contracts

Samples: Officer Employment Agreement (Callaway Golf Co), Officer Employment Agreement (Callaway Golf Co), Officer Employment Agreement (Callaway Golf Co)

Sole Consideration. Employee and the Company agree and acknowledge that the sole and exclusive consideration for the Incentive Payments is Employee’s forbearance as described in subsection 7(h)(iiiSubsection 7(c)(i) above. In the event that subsection 7(h)(iiiSubsection 7(c)(i) is deemed unenforceable or invalid for any reason, then the Company will have no obligation to make Incentive Payments for the period of time during which it has been deemed unenforceable or invalid. The obligations and duties of this subsection 7(hSubsection 7(c) shall be separate and distinct from the other obligations and duties set forth in this Agreement, and any finding of invalidity or unenforceability of this subsection 7(hSubsection 7(c) shall have no effect upon the validity or invalidity of the other provisions of this Agreement.

Appears in 6 contracts

Samples: Officer Employment Agreement (Callaway Golf Co), Officer Employment Agreement (Callaway Golf Co), Officer Employment Agreement (Callaway Golf Co)

Sole Consideration. Employee and the Company agree and acknowledge that the sole and exclusive consideration for the Incentive Payments is Employee’s forbearance as described in this subsection 7(h)(iii) above7(h). In the event that this subsection 7(h)(iii7(h) is deemed unenforceable or invalid for any reason, then the Company will have no obligation to make Incentive Payments for the period of time during which it has been deemed unenforceable or invalid. The obligations and duties of this subsection 7(h) shall be separate and distinct from the other obligations and duties set forth in this Agreement, and any finding of invalidity or unenforceability of this subsection 7(h) shall have no effect upon the validity or invalidity of the other provisions of this Agreement.

Appears in 2 contracts

Samples: Chief Executive Officer Employment Agreement (Callaway Golf Co), Chief Executive Officer Employment Agreement (Callaway Golf Co)

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Sole Consideration. Employee and the Company agree and acknowledge that the sole and exclusive consideration for the Incentive Payments is Employee’s forbearance as described in subsection 7(h)(iii) above. In the event that subsection 7(h)(iii) is deemed unenforceable or invalid for any reason, then the Company will have no obligation to make Incentive Payments for the period of time during which it has been deemed unenforceable or invalid. Xxxxx X. Xxxxxxx The obligations and duties of this subsection 7(h) shall be separate and distinct from the other obligations and duties set forth in this Agreement, and any finding of invalidity or unenforceability of this subsection 7(h) shall have no effect upon the validity or invalidity of the other provisions of this Agreement.

Appears in 1 contract

Samples: Officer Employment Agreement (Callaway Golf Co /Ca)

Sole Consideration. Employee and the Company agree and acknowledge that the sole and exclusive consideration for the Incentive Payments is Employee’s 's forbearance as described in this subsection 7(h)(iii) above7(h). In the event that this subsection 7(h)(iii7(h) is deemed unenforceable or invalid for any reason, then the Company will have no obligation to make Incentive Payments for the period of time during which it has been deemed unenforceable or invalid. The obligations and duties of this subsection 7(h) shall be separate and distinct from the other obligations and duties set forth in this Agreement, and any finding of invalidity or unenforceability of this subsection 7(h) shall have no effect upon the validity or invalidity of the other provisions of this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Callaway Golf Co /Ca)

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