Executive’s Agreement to Honor Portions of the Employment Agreement Sample Clauses

Executive’s Agreement to Honor Portions of the Employment Agreement. In addition to this Agreement, Executive agrees that his obligations under paragraphs 10-17 of the Employment Agreement, including those provisions regarding confidentiality, return of Company property/documents, best efforts and disclosures, inventions and other works, non-solicitation, non-competition and non-recruitment, survive the termination of Executive’s employment with the Company and are not superseded by this Agreement. Executive agrees that his obligations under paragraphs 10-17 off the Employment Agreement and the definition of Confidential Information (described in paragraph 11 of the Employment Agreement) are incorporated into this Agreement by reference and Executive agrees to adhere to his promises to the Company under the paragraphs 10-17 of the Employment Agreement. If for any reason any court of competent jurisdiction finds any provision of this Paragraph 5 or applicable provision of Executive’s Employment Agreement unreasonable in duration or geographic scope or otherwise, the Company and Executive agree that the restrictions and prohibitions under paragraphs 10-17 of the Employment Agreement and this Paragraph 5 shall be effective to the fullest extent allowed under applicable law. Further, if the Company determines that Executive has violated paragraphs 10-17 of his Employment Agreement or this Paragraph 5, Executive agrees to the following forfeiture provision: Executive understands that breach of paragraphs 10-17 of his Employment Agreement or this Paragraph 5 will result in Executive’s immediate forfeiture and repayment to the Company of ninety percent (90%) of any Additional Severance Payments that have been paid to Executive as of the date of the breach and forfeiture of any remaining unpaid Additional Severance Payments that otherwise would have been due to the Executive but for the breach (the “Forfeited Severance Payment”). Notwithstanding the foregoing, the Company and Executive agree that the definition of “Restricted Period” in paragraph 11(e)(5) of the Employment Agreement is hereby terminated and replaced with the following definition: “Restricted Period” means the period commencing on the Effective Date and continuing through the three month anniversary of the date of termination of the Consulting Term (as that term is defined in Paragraph 21) or the date of termination of any renewed Consulting Term.
Sample 1
AutoNDA by SimpleDocs

Related to Executive’s Agreement to Honor Portions of the Employment Agreement

  • of the Employment Agreement Section 4.4.3 of the Employment Agreement is hereby amended and restated in its entirety to read as follows:

  • Amendment to Employment Agreement The Employment Agreement is hereby amended as follows:

  • Termination of Management Agreement Evidence of the termination of any and all management agreements affecting the Property, effective as of the Closing Date, and duly executed by Seller and the property manager.

  • ASSIGNMENT TERMINATES THIS AGREEMENT; AMENDMENTS OF THIS AGREEMENT This Agreement shall automatically terminate, without the payment of any penalty, in the event of its assignment or in the event that the Investment Management Agreement between the Manager and the Fund shall have terminated for any reason; and this Agreement shall not be amended unless such amendment is approved at a meeting by the affirmative vote of a majority of the outstanding shares of the Fund, and by the vote, cast in person at a meeting called for the purpose of voting on such approval, of a majority of the Trustees of the Fund who are not interested persons of the Fund or of the Manager or the Portfolio Manager.

  • Termination Agreement 8.01 Notwithstanding any other provision of this Agreement, WESTERN, at its sole option, may terminate either a Purchase Order or this Agreement at any time by giving fourteen (14) days written notice to CONSULTANT, whether or not a Purchase Order has been issued to CONSULTANT.

  • Reimbursement of Executive’s Expenses to Enforce this Agreement The Bank will reimburse Executive for all out-of-pocket expenses, including, without limitation, reasonable attorneys’ fees, incurred by Executive in connection with his successful enforcement of the Bank’s obligations under this Agreement. Successful enforcement means the grant of an award of money or the requirement that the Bank take some specified action: (i) as a result of court order; or (ii) otherwise following an initial failure of the Bank to pay money or take action promptly following receipt of a written demand from Executive stating the reason that the Bank must make payment or take action under this Agreement.

  • Termination of Employment Agreement (a) Effective as of the Effective Date and immediately prior to the Effective Time, the Employment Agreement is hereby terminated and shall be of no further force or effect whatsoever; provided, however, that, and notwithstanding anything in this Agreement to the contrary, such termination shall be contingent on the closing of the Merger.

  • DURATION, TERMINATION AND AMENDMENT OF THIS AGREEMENT This Agreement shall become effective on the date first above written and shall govern the relations between the parties hereto thereafter, and shall remain in force until December 29, 2002 on which date it will terminate unless its continuance after December 29, 2002 is "specifically approved at least annually" (i) by the vote of a majority of the Trustees of the Trust who are not "interested persons" of the Trust or of the Adviser at a meeting specifically called for the purpose of voting on such approval, and (ii) by the Board of Trustees of the Trust, or by "vote of a majority of the outstanding voting securities" of the Fund. This Agreement may be terminated at any time without the payment of any penalty by the Trustees or by "vote of a majority of the outstanding voting securities" of the Fund, or by the Adviser, in each case on not more than sixty days' nor less than thirty days' written notice to the other party. This Agreement shall automatically terminate in the event of its "assignment". This Agreement may be amended only if such amendment is approved by "vote of a majority of the outstanding voting securities" of the Fund.

  • Obligations of Executive (a) For two years following a Termination Event, Executive agrees not to personally solicit any of the employees either of the Company or of any entity in which the Company directly or indirectly possesses the ability to determine the voting of 50% or more of the voting securities of such entity (including two-party joint ventures in which each party possesses 50% of the total voting power of the entity) to become employed elsewhere or provide the names of such employees to any other company that Executive has reason to believe will solicit such employees.

  • AGREEMENTS OF THE EXECUTIVE In consideration of the compensation and benefits to be paid or provided to the Executive by the Employer under this Agreement, the Executive covenants as follows:

Time is Money Join Law Insider Premium to draft better contracts faster.