Common use of Compliance with Protective Covenants Clause in Contracts

Compliance with Protective Covenants. Notwithstanding anything to the contrary herein, in the event Executive fails or ceases to fully abide by all of the covenants contained in Section 9 of this Agreement, or in the event any court of competent jurisdiction deems any such covenant(s) to be invalid or unenforceable, then Executive acknowledges and agrees that such circumstances shall constitute a failure of consideration and Executive shall not be entitled to any compensation pursuant to Section 7(b), (c), or (d). If Executive has already received any such compensation at the time he violates any such covenant, Employers shall immediately be entitled to recover all such amounts in full from Executive.

Appears in 4 contracts

Samples: Employment Agreement (GBC Bancorp Inc), Employment Agreement (GBC Bancorp Inc), Employment Agreement (GBC Bancorp Inc)

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Compliance with Protective Covenants. Notwithstanding anything to the contrary hereinin this Agreement, in the event Executive fails or ceases to fully abide by all of the covenants contained in Section 9 of this AgreementAgreement paragraph 9, or in the event any court of competent jurisdiction or arbitrator deems any such covenant(s) to be invalid or unenforceableunenforceable as the result of a challenge by Executive, then Executive acknowledges and agrees that such circumstances shall constitute a failure of consideration and Executive shall not be entitled to any compensation pursuant to Section Agreement paragraphs 7(b), ) or (c), or (d). If Executive has already received any such compensation at the time he violates any such covenant, the Employers shall immediately be entitled to recover all such amounts in full from Executive.

Appears in 2 contracts

Samples: Employment Agreement (Atlantic Capital Bancshares, Inc.), Employment Agreement (Atlantic Capital Bancshares, Inc.)

Compliance with Protective Covenants. Notwithstanding anything to the contrary herein, in the event Executive fails or ceases to fully abide by all of the covenants contained in Section 9 of this Agreement, or in the event any court of competent jurisdiction deems any such covenant(s) to be invalid or unenforceable, then Executive acknowledges and agrees that such circumstances shall constitute a failure of consideration and Executive shall not be entitled to any compensation pursuant to Section 7(b), (c), or (d). If Executive has already received any such compensation at the time he she violates any such covenant, Employers Employer shall immediately be entitled to recover all such amounts in full from Executive.

Appears in 1 contract

Samples: Employment Agreement (GBC Bancorp Inc)

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Compliance with Protective Covenants. Notwithstanding anything to the contrary herein, in the event Executive fails or ceases to fully abide by all of the covenants contained in Section 9 of this Agreement, or in the event any court of competent jurisdiction deems any such covenant(s) to be invalid or unenforceable, then Executive acknowledges and agrees that such circumstances shall constitute a failure of consideration and Executive shall not be entitled to any compensation pursuant to Section 7(b), (c), or (d). If Executive has already received any such compensation at the time he violates any such covenant, Employers Employer shall immediately be entitled to recover all such amounts in full from Executive.

Appears in 1 contract

Samples: Employment Agreement (GBC Bancorp Inc)

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