Common use of Consideration for Restrictions and Covenants Clause in Contracts

Consideration for Restrictions and Covenants. The parties hereto acknowledge and agree that the principal consideration for the agreement to make the payments provided in Sections 3 and 4 hereof from the Company to the Executive and the grant to the Executive of the stock options and stock units of the Company as set forth in Section 2 hereof is the Executive's compliance with the undertakings set forth in this Section 10. Specifically, the Executive agrees to comply with the provisions of this Section 10 irrespective of whether the Executive is entitled to receive any payments under Section 3 or 4 of this Agreement.

Appears in 1 contract

Samples: Retention Agreement (Toys R Us Inc)

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Consideration for Restrictions and Covenants. The parties hereto acknowledge and agree that the principal consideration for the agreement to make the payments provided in Sections 3 and 4 hereof from the Company to the Executive and the grant to the Executive of the stock options and stock units of the Company as set forth in Section 2 hereof is the Executive's compliance with the undertakings set forth in this Section 10. Specifically, the Executive agrees to comply with the provisions of this Section 10 irrespective of whether the Executive is entitled to receive any payments under Section 3 or 4 of this Agreement.

Appears in 1 contract

Samples: Retention Agreement (Toys R Us Inc)

Consideration for Restrictions and Covenants. The parties hereto acknowledge and agree that the principal consideration for the agreement to make the payments provided in Sections 3 4, 5, 6 and 4 10 hereof from the Company to the Executive and the grant to the Executive of the stock options and stock units of the Company as set forth in Section 2 hereof herein is the Executive's compliance with the undertakings set forth in this Section 1011. Specifically, the Executive agrees to comply with the provisions of this Section 10 11 irrespective of whether the Executive is entitled to receive any payments under Section 3 Sections 4, 5, 6 or 4 10 of this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Lodgian Inc)

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Consideration for Restrictions and Covenants. The parties hereto acknowledge and agree that the principal consideration for the agreement to make the payments provided in Sections 3 5, 6, 7 and 4 11 hereof from the Company to the Executive and the grant to the Executive of the stock options and stock units of the Company as set forth in Section 2 hereof herein is the Executive's compliance with the undertakings set forth in this Section 1012. Specifically, the Executive agrees to comply with the provisions of this Section 10 12 irrespective of whether the Executive is entitled to receive any payments under Section 3 Sections 5, 6, 7 or 4 11 of this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Lodgian Inc)

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