Business Protections. Inspire has many confidential and proprietary business interests and other information relating to its products, services and customers, which it needs to adequately protect. For this reason, its willingness to enter into this Agreement is contingent upon Executive’s acceptance of the covenants set forth in paragraph 8 below. Executive understands that the business protections in paragraph 8 will apply throughout Executive’s employment, and will continue to apply thereafter even if Executive’s employment is terminated under Paragraph 5 of this Agreement, regardless of the reason for or timing of the termination.
Business Protections. You acknowledge that you have previously signed certain agreements with Real, which may contain ongoing obligations that survive the termination of your employment, including obligations relating to use of confidential information, non-solicitation and non-competition. You acknowledge that you are bound by these obligations, to the fullest extent permitted by law, and you agree that you will comply fully with these obligations in the future.
Business Protections. The parties acknowledge and agree that the Employee Confidential Information Agreement, signed by Employee as of August 20, 2002 is valid and enforceable by Employer. In consideration of the mutual promises and commitments set forth in this Agreement, Employee acknowledges and reaffirms all obligations under the Employee Confidential Information Agreement, which obligations continue in full force and effect.
Business Protections. You acknowledge that you have previously signed certain agreements with Real, which may contain ongoing obligations that survive the termination of your employment, including obligations relating to use of confidential information, non-solicitation and non-competition. Such post-employment obligations shall continue for as long as previously agreed from the Transition Date and the Consulting Period shall not be deemed to toll or extend such periods. In the event that you breach the non-solicitation or non-competition obligations, Real reserves the right to terminate any additional payments owed to you under this Agreement. If it is subsequently determined that any such payments were incorrectly withheld, you shall be entitled to receive your costs of collection in addition to the outstanding payments. Further, if such a breach occurs, you forfeit your right to receive the one-year period to exercise your RealNetworks and Rhapsody equity as set forth in Section 3 above. In such event, you will be required to either exercise or lose any vested equity within thirty days of the expiration of the Consulting Period.
Business Protections. (a) The parties acknowledge and agree that the Employee Confidentiality/Restrictive Covenant Agreement dated May 20, 2003, attached hereto as Exhibit A (the "Employee Agreement"), is valid and enforceable by Employer. Xxxxxxx acknowledges and reaffirms all of his obligations under the Employee Agreement, which obligations continue in full force and effect following the execution of this Agreement, and further affirms that the Employee Agreement shall be deemed to cover both Employer and ev3 LLC from the Effective Date forward, (b) In addition Xxxxxxx recognizes and agrees that the term "Competitive Product" as defined in the Employee Agreement includes, but is not limited to, any product intended to compete with Employer's products in the areas of Left Atrial Appendage Closure, Patent Foramen Ovale Closure, and/or Percutaneous Mitral Valve Repair, which is planned, is under development, is in clinical trials, or is commercially available. (c) Notwithstanding this, Employer agrees to waive its rights under the non-compete section of the Employee Agreement with regard to Velocimed, Inc.; provided, however, that Xxxxxxx will remain bound by all of the other restrictions in the Employee Agreement including without limitation confidentiality. Employer agrees that there are no other noncompetition, nonsolicitation, confidentiality, or trade secret agreements between Employer and Xxxxxxx, and Employer releases Xxxxxxx from any such agreements that may exist; provided, however, that nothing in this Agreement shall modify or release Xxxxxxx from any obligations he has to Employer under common law. (d) Notwithstanding the language in the Employee Agreement, Xxxxxxx agrees that for the one year period set out in the Employee Agreement he will not hire any employee or consultant of Employer unless said employee or consultant has been terminated by Employer; any employee or consultant who resigns or otherwise chooses to terminate his/her relationship with Employer may not be hired by Xxxxxxx for the one year period set out in the Employee Agreement. (e) Employer represents to Xxxxxxx that under its current D&O insurance policy Xxxxxxx will continue to be covered under the policy for the covered periods while Xxxxxxx was acting as a director and officer of Employer.
Business Protections
