Common use of Breach of Restrictive Covenant Clause in Contracts

Breach of Restrictive Covenant. The Employee acknowledges and agrees that any breach of the restrictions set forth in this Section 10(b) will result in irreparable injury to the Bank for which it shall have no meaningful remedy at law, and the Bank shall be entitled to injunctive relief in order to enforce provisions hereof. Upon obtaining any such final and nonappealable injunction, the Bank shall be entitled to pursue reimbursement from the Employee and/or the Employee’s employer of attorney’s fees and costs reasonably incurred in obtaining such final and nonappealable injunction. In addition, the Bank shall be entitled to pursue reimbursement from the Employee and/or the Employee’s employer of costs reasonably incurred in securing a qualified replacement for any employee enticed away from the Bank by Employee. Further, the Bank shall be entitled to set off against or obtain reimbursement from Employee of any payments owed or made to the Employee hereunder.