Breach of non. competition or non-poaching clause If the Managing Director is in breach of Clause 16.1 (Non-competition clause) or Clause 16.2 (Non-poaching clause), the Managing Director shall, without any demand or other prior notice, owe the Company an immediately due and payable, non-recurrent penalty equal to one (1) annual gross fixed salary. The Company is entitled to the penalty without prejudice to the right to claim performance of the obligations set out in Clause 16.1 and Clause 16.2. The Company may claim damages in addition to this penalty.
Appears in 4 contracts
Samples: Management Agreement, Management Agreement, Management Agreement
