Xxxxxxx and Pier Sample Clauses

Xxxxxxx and Pier. Xxxxxxx Xxxxxxxxxx hereby undertake, jointly and severally, not to commence, acquire, pursue or otherwise and in any manner whatsoever (including, without limitation, as shareholders, venturers, consultants, advisors, agents or providers of funding), directly or indirectly (including, without limitation, through their spouses, sons or other close relatives), engage in, any activity in direct competition with the activity currently carried out by the Parent, the Company or the Subsidiaries.

Xxxxxxx and Pier. Xxxxxxx Xxxxxxxxxx hereby agree that the compensation established for their rendering services pursuant to Section 11.2 above, as well as the Purchase Price, are meant to include compensation also for the non compete undertakings assumed hereunder, as the same constitute an essential element of the overall transaction contemplated by this Agreement. As a consequence, in the event of breach of the non-compete undertakings, without prejudice to any other rights and remedies available to Impco pursuant to the law, Xxxxxxx and Pier Xxxxxxx Xxxxxxxxxx will be liable to pay to Impco, by way of liquidated damages, an amount equal to Euro 1,000,000.00 for each breach.