Violation of Restrictive Covenant. If the Executive violates the restrictions contained in Section 6(a) and the Employer brings legal action for injunctive or other relief, the Employer shall not, as a result of the time involved in obtaining such relief, be deprived of the benefit of the full period of the Restrictive Period. Accordingly, the Restrictive Period shall be deemed to have the duration specified in Section 6(a) computed from the date the relief is granted but reduced by the time between the period when the Restrictive Period began to run and the date of the first violation of the restrictions contained in Section 6(a) by the Executive. In the event that a successor assumes and agrees to perform this Agreement, the restrictions contained in Section 6(a) shall continue to apply only to the primary service area of the Employer as it existed immediately before such assumption and shall not apply to any of the successor's other offices.
Violation of Restrictive Covenant. If the Participant is or becomes subject to a restrictive covenant (including, without limitation, a restrictive covenant regarding non-competition, non-solicitation, or confidentiality) under the terms of any employment, consulting, advisory or similar agreement entered into by the Participant and the Company or any Affiliate or under a severance plan or other benefit plan of the Company or any Affiliate, and the Participant violates the terms of such restrictive covenant after the Participant’s termination of employment, then any RSUs for which Shares have not yet been issued or transferred pursuant to Sections 4 or 5 shall be forfeited. The RSU grant is made in consideration of the application of the current or future restrictive covenants to the RSUs. Forfeiture of the RSUs pursuant to this Section is in addition to any other consequences of a violation of a restrictive covenant under an applicable agreement or benefit plan, and shall not in any way diminish or otherwise impact the remedies available under any such agreement or benefit plan. Upon any judicial determination that this Section is unenforceable in whole or in part, this Section shall be deemed to be modified so as to be enforceable and to effect the original intent of the parties as closely as possible.
Violation of Restrictive Covenant. Participant, by accepting this Option, agrees that the foregoing covenants are reasonable with respect to their duration and scope. Participant further acknowledges that the restrictions are reasonable and necessary for the protection of the legitimate business interests of the Company and its Affiliates, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Company and its Affiliates, and that such restrictions were a material inducement to the Company to grant this Option. In the event of any violation or threatened violation of these restrictions, any and all rights of Participant under this Option, whether unvested or vested, shall be forfeited and shall immediately terminate and shall thereafter be void.
Violation of Restrictive Covenant. Participant, by accepting this Award, agrees that the foregoing covenants are reasonable with respect to their duration and scope. Participant further acknowledges that the restrictions are reasonable and necessary for the protection of the legitimate business interests of the Company and its Affiliates, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Company and its Affiliates, and that such restrictions were a material inducement to the Company to grant this Award. In the event of any violation or threatened violation of these restrictions, Participant shall forfeit all restricted stock units subject to this Award which have not vested and this Award shall terminate as of the date of the violation or threatened violation of these restrictions.
Violation of Restrictive Covenant. If the Participant is or becomes subject to a restrictive covenant (including, without limitation, a restrictive covenant regarding non-competition, non-solicitation, or confidentiality) under the terms of any employment, consulting, advisory or similar agreement entered into by the Participant and the Company or any Affiliate or under a severance plan or other benefit plan of the Company or any Affiliate, and the Participant violates the terms of such restrictive covenant after the Participant’s termination of employment, then the Option shall be immediately forfeited and cancelled, regardless of whether the Option is vested. The Option grant is made in consideration of the application of the current or future restrictive covenants to the Option. Forfeiture and cancellation of the Option pursuant to this Section is in addition to any other consequences of a violation of a restrictive covenant under an applicable agreement or benefit plan, and shall not in any way diminish or otherwise impact the remedies available under any such agreement or benefit plan. Upon any judicial determination that this Section is unenforceable in whole or in part, this Section shall be deemed to be modified so as to be enforceable and to effect the original intent of the parties as closely as possible.
Violation of Restrictive Covenant. If the Participant is or becomes subject to a restrictive covenant (including, without limitation, a restrictive covenant regarding non-competition, non-solicitation, or confidentiality) under the terms of any employment, consulting, advisory or similar agreement entered into by the Participant and the Company or any Affiliate or under a severance plan or other benefit plan of the Company or any Affiliate, and the Participant violates the terms of such restrictive covenant, then the Option shall be immediately forfeited and cancelled, regardless of whether the Option is vested. The Option grant is made in consideration of the application of the current or future restrictive covenants to the Option. Forfeiture and cancellation of the Option pursuant to this Section is in addition to any other consequences of a violation of a restrictive covenant under an applicable agreement or benefit plan, and shall not in any way diminish or otherwise impact the remedies available under any such agreement or benefit plan. Upon any judicial determination that this Section is unenforceable in whole or in part, this Section shall be deemed to be modified so as to be enforceable and to effect the original intent of the parties as closely as possible.
Violation of Restrictive Covenant. If the Participant is or becomes subject to a restrictive covenant (including, without limitation, a restrictive covenant regarding non-competition, non-solicitation, or confidentiality) under the terms of any employment, consulting, advisory or similar agreement entered into by the Participant and the Company or any Affiliate or under a severance plan or other benefit plan of the Company or any Affiliate, and the Participant violates the terms of such restrictive covenant, then any RSUs for which Shares have not yet been issued or transferred pursuant to Sections 4 or 5 shall be immediately forfeited. The RSU grant is made in consideration of the application of the current or future restrictive covenants to the RSUs. Forfeiture of the RSUs pursuant to this Section is in addition to any other consequences of a violation of a restrictive covenant under an applicable agreement or benefit plan, and shall not in any way diminish or otherwise impact the remedies available under any such agreement or benefit plan. Upon any judicial determination that this Section is unenforceable in whole or in part, this Section shall be deemed to be modified so as to be enforceable and to effect the original intent of the parties as closely as possible.
Violation of Restrictive Covenant. Participant, by accepting this Performance Award, agrees that the foregoing covenants are reasonable with respect to their duration and scope. Participant further acknowledges that the restrictions are reasonable and necessary for the protection of the legitimate business interests of the Company and its Affiliates, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Company and its Affiliates, and that such restrictions were a material inducement to the Company to grant this Performance Award. In the event of any violation or threatened violation of these restrictions, any and all rights of Participant under this Performance Award, whether unvested or vested, shall be forfeited and shall immediately terminate and shall thereafter be void.
Violation of Restrictive Covenant. If Covenantee violates the restrictions contained in Section 2(a) and Centrue Financial brings legal action for injunctive or other relief, Centrue Financial shall not, as a result of the time involved in obtaining such relief, be deprived of the benefit of the full period of the Restrictive Period. Accordingly, the Restrictive Period shall be deemed to have the duration specified in Section 2(a) computed from the date the relief is granted but reduced by the time between the period when the Restrictive Period began to run and the date of the first violation of the restrictions contained in Section 2(a)
Violation of Restrictive Covenant. Participant, by accepting this SAR, agrees that the foregoing covenants are reasonable with respect to their duration and scope. Participant further acknowledges that the restrictions are reasonable and necessary for the protection of the legitimate business interests of the Company and its Affiliates, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Company and its Affiliates, and that such restrictions were a material inducement to the Company to grant this SAR. In the event of any violation or threatened violation of these restrictions, any and all rights of Participant under this SAR, whether unvested or vested, shall be forfeited and shall immediately terminate and shall thereafter be void.
