Commitments of Grantee Clause Samples
The "Commitments of Grantee" clause defines the specific obligations and responsibilities that the grantee must fulfill under the agreement. Typically, this includes requirements such as using granted funds for designated purposes, maintaining accurate records, and providing progress or financial reports to the grantor. By clearly outlining these expectations, the clause ensures accountability and proper use of resources, helping to prevent misuse and misunderstandings between the parties.
Commitments of Grantee. Notwithstanding any other provisions of this Agreement or the Plan, in consideration of the grant of Restricted Stock to Grantee, in recognition of the highly competitive nature of the industries in which the Company conducts its business and to further protect the goodwill of the Company and to promote and preserve its legitimate business interests, Grantee agrees that during the period commencing on the Grant Date and ending two years after the date of termination of the Grantee’s employment by the Company, Grantee will not:
Commitments of Grantee. Notwithstanding any other provisions of this Agreement, the Plan or the Employment Agreement, in consideration of the grant of Restricted Stock to Grantee and the benefits conferred by the Employment Agreement, in recognition of the highly competitive nature of the industries in which the Company conducts its business and to further protect the goodwill of the Company and to promote and preserve its legitimate business interests, Grantee will not:
Commitments of Grantee. Notwithstanding any other provisions of this Agreement or the Plan, in consideration of the grant of Restricted Stock to Grantee, Grantee agrees:
Commitments of Grantee. Notwithstanding any other provisions of this Agreement or the Plan, in consideration of the grant of Phantom Shares to Grantee, in recognition of the highly competitive nature of the industries in which the Company, Kaydon and its subsidiaries conduct their business and to further protect the goodwill of those entities and to promote and preserve their legitimate business interests, Grantee agrees that during the period commencing on the Grant Date and ending two years after the date of termination of the Grantee’s employment by the Company, Grantee will not: