Common use of Breach of Confidentiality Provisions/Liquidated Damages Clause in Contracts

Breach of Confidentiality Provisions/Liquidated Damages. Employee agrees that if Employee, Employee’s attorney, or Employee’s accountant, financial advisor or spouse/domestic partner breaches the promise to maintain the confidentiality of this Agreement and the Severance Pay, then the resulting damage to the Company would be impracticable or extremely difficult to determine because of the uncertain effect of the disclosure of such information on the Company’s present and future business prospects. Because of the difficulty of determining the damages resulting from any such breach of the confidentiality provisions of this Agreement, the parties agree that in the event of such a breach by Employee either directly by Employee or indirectly through Employee’s spouse, attorney or agents, Employee shall be obligated to re-pay to the Company the sum of five thousand dollars ($5,000) as liquidated damages for each occurrence, which amount Employee agrees is reasonable. Nothing herein shall limit or restrict any other remedies available to the Company, at law or in equity, in the event of a breach or threatened breach by Employee of any obligations under this Agreement.

Breach of Confidentiality Provisions/Liquidated Damages. Employee agrees that if Employee, Employee’s attorney, or Employee’s accountant, financial advisor or spouse/domestic partner breaches the promise to maintain the confidentiality of this Agreement and the Severance Pay, then the resulting damage to the Company would be impracticable or extremely difficult to determine because of the uncertain effect of the disclosure of such information on the Company’s present and future business prospects. Because of the difficulty of determining the damages resulting from any such breach of the confidentiality provisions of this Agreement, the parties agree that in the event of such a breach by Employee either directly by Employee or indirectly through Employee’s spouse, attorney or agents, Employee shall be obligated to re-re- pay to the Company the sum of five thousand dollars ($5,000) as liquidated damages for each occurrence, which amount Employee agrees is reasonable. Nothing herein shall limit or restrict any other remedies available to the Company, at law or in equity, in the event of a breach or threatened breach by Employee of any obligations under this Agreement.