Common use of Consideration and Acknowledgments Clause in Contracts

Consideration and Acknowledgments. Employee acknowledges and agrees that the covenants described in Sections 4 through 8 of this Agreement are essential terms, and the underlying Management Incentive Compensation Award would not be provided by the Company in the absence of these covenants. Employee further acknowledges that these covenants are supported by adequate consideration as set forth in this Agreement, that full compliance with these covenants will not prevent Employee from earning a livelihood following the termination of his or her employment, and that these covenants do not place undue restraint on Employee and are not in conflict with any public interest. Employee further acknowledges and agrees that Employee fully understands these covenants, has had full and complete opportunity to discuss and resolve any ambiguities or uncertainties regarding these covenants before signing this Agreement, that these covenants are reasonable and enforceable in every respect, and has voluntarily agreed to comply with these covenants for their stated term. Employee agrees that in the event he or she is offered employment with a competing business at any time in the future, Employee shall immediately notify the competing business of the existence of the covenants set forth above.

Appears in 3 contracts

Samples: Management Incentive Compensation Award Agreement (Xerium Technologies Inc), Management Incentive Compensation Award Agreement (Xerium Technologies Inc), Management Incentive Compensation Award Agreement (Xerium Technologies Inc)

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Consideration and Acknowledgments. Employee acknowledges and agrees that the covenants described in Sections 4 through 8 of this Agreement are essential terms, and the underlying Management Incentive Compensation Restricted Stock Unit Award would not be provided by the Company in the absence of these covenants. Employee further acknowledges that these covenants are supported by adequate consideration as set forth in this Agreement, that full compliance with these covenants will not prevent Employee from earning a livelihood following the termination of his or her employment, and that these covenants do not place undue restraint on Employee and are not in conflict with any public interest. Employee further acknowledges and agrees that Employee fully understands these covenants, has had full and complete opportunity to discuss and resolve any ambiguities or uncertainties regarding these covenants before signing this Agreement, that these covenants are reasonable and enforceable in every respect, and has voluntarily agreed to comply with these covenants for their stated term. Employee agrees that in the event he or she is offered employment with a competing business Competing Business at any time in the future, Employee shall immediately notify the competing business Competing Business of the existence of the covenants set forth above.

Appears in 3 contracts

Samples: Restricted Stock Unit Award Agreement, Restricted Stock Unit Award Agreement (Walgreen Co), Restricted Stock Unit Award Agreement (Walgreen Co)

Consideration and Acknowledgments. Employee acknowledges and agrees that the covenants described in Sections Paragraphs 1 through 4 through 8 of this Agreement are essential terms, and the underlying Management Incentive Compensation Award restricted stock unit award would not be provided by the Company in the absence of these covenants. Employee further acknowledges that these covenants are supported by adequate consideration as set forth in this Agreement, that full compliance with these covenants will not prevent Employee from earning a livelihood following the termination of his or her employment, and that these covenants do not place undue restraint on Employee and are not in conflict with any public interest. Employee further acknowledges and agrees that Employee fully understands these covenants, has had full and complete opportunity to discuss and resolve any ambiguities or uncertainties regarding these covenants before signing this Agreement, that these covenants are reasonable and enforceable in every respect, and has voluntarily agreed to comply with these covenants for their stated term. Employee agrees that in the event he or she is offered employment with a competing business Competing Business at any time in the future, Employee shall immediately notify the competing business Competing Business of the existence of the covenants set forth in Paragraphs 1 through 4 above.

Appears in 3 contracts

Samples: Restricted Stock Unit Award Agreement (Walgreen Co), Restricted Stock Unit Award Agreement (Walgreen Co), Restricted Stock Unit Award Agreement (Walgreen Co)

Consideration and Acknowledgments. Employee acknowledges and agrees that the covenants described in Sections 4 through 8 of this Agreement are essential terms, and the underlying Management Incentive Compensation Award Restricted Share unit award would not be provided by the Company in the absence of these covenants. Employee further acknowledges that these covenants are supported by adequate consideration as set forth in this Agreement, that full compliance with these covenants will not prevent Employee from earning a livelihood following the termination of his or her employment, and that these covenants do not place undue restraint on Employee and are not in conflict with any public interest. Employee further acknowledges and agrees that Employee fully understands these covenants, has had full and complete opportunity to discuss and resolve any ambiguities or uncertainties regarding these covenants before signing this Agreement, that these covenants are reasonable and enforceable in every respect, and has voluntarily agreed to comply with these covenants for their stated term. Employee agrees that in the event he or she is offered employment with a competing business Competing Business at any time in the future, Employee shall immediately notify the competing business Competing Business of the existence of the covenants set forth above.

Appears in 2 contracts

Samples: Restricted Share Unit Award Agreement (Walgreen Co), Restricted Share Unit Award Agreement (Walgreen Co)

Consideration and Acknowledgments. Employee acknowledges and agrees that the covenants described in Sections 4 Paragraphs 1 through 8 3 of this Agreement are essential terms, and the underlying Management Incentive Compensation Award restricted stock unit award and the Separation Payments under the Separation and Release Agreement would not be provided by the Company in the absence of these covenants. Employee further acknowledges that these covenants are supported by adequate consideration as set forth in this Agreement, that full compliance with these covenants will not prevent Employee from earning a livelihood following the termination of his or her employment, and that these covenants do not place undue restraint on Employee and are not in conflict with any public interest. Employee further acknowledges and agrees that Employee fully understands these covenants, has had full and complete opportunity to discuss and resolve any ambiguities or uncertainties regarding these covenants before signing this Agreement, that these covenants are reasonable and enforceable in every respect, and has voluntarily agreed to comply with these covenants for their stated term. Employee agrees that in the event he or she is offered employment with a competing business Competing Business at any time in the future, Employee shall immediately notify the competing business Competing Business of the existence of the covenants set forth in Paragraphs 1 through 3 above.

Appears in 1 contract

Samples: Separation and Release Agreement (Walgreen Co)

Consideration and Acknowledgments. Employee acknowledges and agrees that the covenants described in Sections Paragraphs 1 through 4 through 8 of this Agreement are essential terms, and the underlying Management Incentive Compensation Award restricted stock award would not be provided by the Company in the absence of these covenants. Employee further acknowledges that these covenants are supported by adequate consideration as set forth in this Agreement, that full compliance with these covenants will not prevent Employee from earning a livelihood following the termination of his or her employment, and that these covenants do not place undue restraint on Employee and are not in conflict with any public interest. Employee further acknowledges and agrees that Employee fully understands these covenants, has had full and complete opportunity to discuss and resolve any ambiguities or uncertainties regarding these covenants before signing this Agreement, that these covenants are reasonable and enforceable in every respect, and has voluntarily agreed to comply with these covenants for their stated term. Employee agrees that in the event he or she is offered employment with a competing business Competing Business at any time in the future, Employee shall immediately notify the competing business Competing Business of the existence of the covenants set forth in Paragraphs 1 through 4 above.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Walgreen Co)

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Consideration and Acknowledgments. Employee acknowledges and agrees that the covenants described in Sections 4 Paragraphs 1 through 8 3 of this Agreement are essential terms, and the underlying Management Incentive Compensation Award payments and benefits under the Agreement and Release would not be provided by the Company in the absence of these covenants. Employee further acknowledges that these covenants are supported by adequate consideration as set forth in this Agreement, that full compliance with these covenants will not prevent Employee from earning a livelihood following the termination of his or her employment, and that these covenants do not place undue restraint on Employee and are not in conflict with any public interest. Employee further acknowledges and agrees that Employee fully understands these covenants, has had full and complete opportunity to discuss and resolve any ambiguities or uncertainties regarding these covenants before signing this Agreement, that these covenants are reasonable and enforceable in every respect, and has voluntarily agreed to comply with these covenants for their stated term. Employee agrees that in the event he or she is offered employment with a competing business Competing Business at any time in the future, Employee shall immediately notify the competing business Competing Business of the existence of the covenants set forth in Paragraphs 1 through 3 above.

Appears in 1 contract

Samples: Release Agreement (Walgreen Co)

Consideration and Acknowledgments. Employee acknowledges and agrees that the covenants described in Sections Paragraphs 1 through 4 through 8 of this Agreement are essential terms, and the underlying Management Incentive Compensation Award Restricted Share unit award would not be provided by the Company in the absence of these covenants. Employee further acknowledges that these covenants are supported by adequate consideration as set forth in this Agreement, that full compliance with these covenants will not prevent Employee from earning a livelihood following the termination of his or her employment, and that these covenants do not place undue restraint on Employee and are not in conflict with any public interest. Employee further acknowledges and agrees that Employee fully understands these covenants, has had full and complete opportunity to discuss and resolve any ambiguities or uncertainties regarding these covenants before signing this Agreement, that these covenants are reasonable and enforceable in every respect, and has voluntarily agreed to comply with these covenants for their stated term. Employee agrees that in the event he or she is offered employment with a competing business Competing Business at any time in the future, Employee shall immediately notify the competing business Competing Business of the existence of the covenants set forth in Paragraphs 1 through 4 above.

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Walgreen Co)

Consideration and Acknowledgments. Employee acknowledges and agrees that the covenants described in Sections 4 9 through 8 12 of this Agreement are essential terms, terms and the underlying Management Incentive Compensation Award Agreement would not be provided entered into by the Company in the absence of these covenants. Employee further acknowledges that these covenants are supported by adequate consideration as set forth in this Agreement, that full compliance with these covenants will not prevent Employee from earning a livelihood following the termination of his or his/her employment, and that these covenants do not place undue restraint on Employee and are not in conflict with any public interest. Employee further acknowledges and agrees that Employee fully understands these covenants, has had full and complete opportunity to discuss and resolve any ambiguities or uncertainties regarding these covenants before signing this Agreement, that these covenants are reasonable and enforceable in every respect, and has voluntarily agreed to comply with these covenants for their stated term. Employee agrees that in the event he or she is offered employment with a competing business at any Competing Organization during the time in the futureperiods listed above, Employee shall immediately notify the competing business Competing Organization of the existence of the covenants set forth in Sections 9 through 12 above.

Appears in 1 contract

Samples: Separation and Release Agreement (Walgreen Co)

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