Common use of Breach of Contract Liabilities Clause in Contracts

Breach of Contract Liabilities. If Party B fails to fulfill his obligations under relevant non-competition restriction provisions hereof, Party B shall assume breach of contract liabilities by paying, on a lump sum basis, liquidated damages in the amount of RMB Fifty Thousand (RMB 50,000). If such liquidated damages are not sufficient to cover the economic losses of Party A, Party B shall provide additional indemnification. Party B shall return to Party A all of the gains derived from his breach.