EMPLOYMENT NON-COMPETITION OBLIGATIONS. 5.1 As part of the consideration for the compensation and benefits to be paid to Employee hereunder, in keeping with Employee's duties as a fiduciary and in order to protect Employer's interests in the confidential information of Employer and the business relationships developed by Employee with the clients and potential clients of Employer, and as an additional incentive for Employer to enter into this Agreement, Employer and Employee agree to the non- competition provisions of this Article 5. Employee agrees that during the period of Employee's non-competition obligations hereunder, Employee will not, directly or indirectly for Employee or for others, in any geographic area or market where Employer or any of its affiliated companies are conducting any business as of the date of termination of the employment relationship or have during the previous twelve months conducted any business: (i) engage in any business competitive with the business conducted by Employer; (ii) render advice or services to, or otherwise assist, any other person, association, or entity who is engaged, directly or indirectly, in any business competitive with the business conducted by Employer; (iii) induce any employee of Employer or any of its affiliates to terminate his or her employment with Employer or its affiliates, or hire or assist in the hiring of any such employee by person, association, or entity not affiliated with Employer. These non-competition obligations shall be pursuant to the Termination and Severance Provisions of Exhibit A. 5.2 Employee understands that the foregoing restrictions may limit his ability to engage in certain businesses anywhere in the world during the period provided for above, but acknowledges that Employee will receive sufficiently high remuneration and other benefits under this Agreement to justify such restriction. Employee acknowledges that money damages would not be sufficient remedy for any breach of this Article 5 by Employee, and Employer shall be entitled to enforce the provisions of this Article 5 by terminating any payments then owing to Employee under this Agreement and/or to specific performance and injunctive relief as remedies for such breach or any threatened breach. Such remedies shall not be deemed the exclusive remedies for a breach of this Article 5, but shall be in addition to all remedies available at law or in equity to Employer, including, without limitation, the recovery of damages from Employee and his agents involved in such breach. 5.3 It is expressly understood and agreed that Employer and Employee consider the restrictions contained in this Article 5 to be reasonable and necessary to protect the proprietary information of Employer. Nevertheless, if any of the aforesaid restrictions are found by a court having jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by such courts so as to be reasonable and enforceable and, as so modified by the court, to be fully enforced.
Appears in 3 contracts
Samples: Executive Employment Agreement (Queen Sand Resources Inc), Executive Employment Agreement (Queen Sand Resources Inc), Executive Employment Agreement (Queen Sand Resources Inc)
EMPLOYMENT NON-COMPETITION OBLIGATIONS. 5.1 6.1 As part of the consideration for the compensation and benefits to be paid to Employee hereunder, in keeping with Employee's duties as a fiduciary and in order to protect Employer's interests in the confidential information of Employer and the business relationships developed by Employee with the clients and potential clients of Employer, and as an additional incentive for Employer to enter into this Agreement, Employer and Employee agree to the non- non-competition provisions of this Article 56. Employee agrees that during the period of Employee's non-competition obligations hereunder, Employee will not, directly or indirectly for Employee or for others, in any geographic area or market where Employer or any of its affiliated companies are conducting any business as of the date of termination of the employment relationship or have during the previous twelve months conducted any business:
(i) engage in any business competitive with the business conducted by Employer;; or
(ii) render advice or services to, or otherwise assist, any other person, association, or entity who is engaged, directly or indirectly, in any business competitive with the business conducted by Employer;. If the employment relationship is terminated by Employer for cause under Section 3.1(i) or upon a Voluntary Termination of the employment relationship by Employee prior to the expiration of the Term, these non-competition obligations shall extend until six (6) months after the date of termination of the employment relationship. These non-competition obligations shall not be applicable in the event of an Involuntary Termination.
6.2 Until five (iii5) years after termination of the employment relationship, Employee shall not induce any employee of Employer or any of its affiliates to terminate his or her employment with Employer or its affiliates, or hire or assist in the hiring of any such employee by person, association, or entity not affiliated with Employer. These non-competition obligations shall be pursuant to the Termination and Severance Provisions of Exhibit A..
5.2 6.3 Employee understands that the foregoing restrictions may limit his or her ability to engage in certain businesses anywhere in the world during the period provided for above, but acknowledges that Employee will receive sufficiently high remuneration and other benefits (e.g., the right to receive compensation under Section 3.5 for the remainder of the Term upon Involuntary Termination) under this Agreement to justify such restriction. Employee acknowledges that money damages would not be sufficient remedy for any breach of this Article 5 6 by Employee, and Employer shall be entitled to enforce the provisions of this Article 5 6 by terminating any payments then owing to Employee under this Agreement and/or to specific performance and injunctive relief as remedies for such breach or any threatened breach. Such remedies shall not be deemed the exclusive remedies for a breach of this Article 56, but shall be in addition to all remedies available at law or in equity to Employer, including, without limitation, the recovery of damages from Employee and his or her agents involved in such breach.
5.3 6.4 It is expressly understood and agreed that Employer and Employee consider the restrictions contained in this Article 5 6 to be reasonable and necessary to protect the proprietary information of Employer. Nevertheless, if any of the aforesaid restrictions are found by a court having jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by such courts so as to be reasonable and enforceable and, as so modified by the court, to be fully enforced.
Appears in 3 contracts
Samples: Executive Employment Agreement (Coda Energy Inc), Executive Employment Agreement (Coda Energy Inc), Executive Employment Agreement (Coda Energy Inc)
EMPLOYMENT NON-COMPETITION OBLIGATIONS. 5.1 6.1 As part of the consideration for the compensation and benefits to be paid to Employee hereunder, in keeping with Employee's duties as a fiduciary and in order to protect Employer's interests in the confidential information of Employer and the business relationships developed by Employee with the clients and potential clients of Employer, and as an additional incentive for Employer to enter into this Agreement, Employer and Employee agree to the non- non-competition provisions of this Article 56. Employee agrees that during the period of Employee's non-competition obligations hereunder, Employee will not, directly or indirectly for Employee or for others, in any geographic area or market where Employer or any of its affiliated companies are conducting any business as of the date of termination of the employment relationship or have during the previous twelve months conducted any business:
(i) engage in any business competitive with the business conducted by Employer;; or
(ii) render advice or services to, or otherwise assist, any other person, association, or entity who is engaged, directly or indirectly, in any business competitive with the business conducted by Employer;. If the employment relationship is terminated by Employer for cause under Section 3.1(i) or upon a Voluntary Termination of the employment relationship by Employee prior to the expiration of the Term, these non-competition obligations shall extend until six (6) months after the date of termination of the employment relationship. These non-competition obligations shall not be applicable in the event of an Involuntary Termination.
6.2 Until five (iii5) years after termination of the employment relationship, Employee shall not induce any employee of Employer or any of its affiliates to terminate his or her employment with Employer or its affiliates, or hire or assist in the hiring of any such employee by person, association, or entity not affiliated with Employer. These non-competition obligations shall be pursuant to the Termination and Severance Provisions of Exhibit A..
5.2 6.3 Employee understands that the foregoing restrictions may limit his or her ability to engage in certain businesses anywhere in the world during the period provided for above, but acknowledges that Employee will receive sufficiently high remuneration and other benefits (e.g., the right to receive compensation under Section 3.5 for the remainder of the Term upon Involuntary Termination) under this Agreement to justify such restriction. Employee acknowledges that money damages would not be sufficient remedy for any breach of this Article 5 6 by Employee, and Employer shall be entitled to enforce the provisions of this Article 5 6 by terminating any payments then owing to Employee under this Agreement and/or to specific performance and injunctive relief as remedies for such breach or any threatened breach. Such remedies shall not be deemed the exclusive remedies for a breach of this Article 56, but shall be in addition to all remedies available at law or in equity to Employer, including, without limitation, the recovery of damages from Employee and his or her agents involved in such breach.
5.3 6.4 It is expressly understood and agreed that Employer and Employee consider the restrictions contained in this Article 5 6 to be reasonable and necessary to protect the proprietary information of Employer. Nevertheless, if any of the aforesaid restrictions are found by a court having jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by such courts so as to be reasonable and enforceable and, as so modified by the court, to be fully enforced.. ARTICLE
Appears in 2 contracts
Samples: Executive Employment Agreement (Coda Energy Inc), Executive Employment Agreement (Coda Energy Inc)
EMPLOYMENT NON-COMPETITION OBLIGATIONS. 5.1 6.1. As part of the consideration for the compensation and benefits to be paid to Employee hereunder, in keeping with Employee's duties as a fiduciary and in order to protect Employer's interests in the confidential information of Employer and the business relationships developed by Employee with the clients and potential clients of Employer, and as an additional incentive for Employer to enter into this Agreement, Employer and Employee agree to the non- non-competition provisions of this Article 56. Employee agrees that during the period of Employee's non-competition obligations hereunder, Employee will not, directly or indirectly for Employee or for others, in any geographic area or market where Employer or any of its affiliated companies are conducting any business as of the date of termination of the employment relationship or have during the previous twelve months conducted any business:
(i) engage in any business competitive with the business conducted by Employer;
(ii) render advice or services to, or otherwise assist, any other person, association, or entity who is engaged, directly or indirectly, in any business competitive with the business conducted by Employer;
(iii) induce any employee of Employer or any of its affiliates to terminate his or her employment with Employer or its affiliates, or hire or assist in the hiring of any such employee by person, association, or entity not affiliated with Employer. These non-competition obligations shall be pursuant to the Termination and Severance Provisions continue for a period of Exhibit A.one year after termination of this employment relationship.
5.2 6.2. Employee understands that the foregoing restrictions may limit his or her ability to engage in certain businesses anywhere in the world during the twelve (12) month period provided for above, but acknowledges that Employee will receive sufficiently high remuneration and other benefits (e.g., the right to receive compensation under Section 3.5 upon Involuntary Termination) under this Agreement to justify such restriction. Employee acknowledges that money damages would not be sufficient remedy for any breach of this Article 5 6 by Employee, and Employer shall be entitled to enforce the provisions of this Article 5 6 by terminating any payments then owing to Employee under this Agreement and/or to specific performance and injunctive relief as remedies for such breach or any threatened breach. Such remedies shall not be deemed the exclusive remedies for a breach of this Article 56, but shall be in addition to all remedies available at law or in equity to Employer, including, without limitation, the recovery of damages from Employee and his or her agents involved in such breach.
5.3 6.3. It is expressly understood and agreed that Employer and Employee consider the restrictions contained in this Article 5 6 to be reasonable and necessary to protect the proprietary information of Employer. Nevertheless, if any of the aforesaid restrictions are found by a court having jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by such courts so as to be reasonable and enforceable and, as so modified by the court, to be fully enforced.
Appears in 2 contracts
Samples: Executive Employment Agreement (Eott Energy Partners Lp), Executive Employment Agreement (Eott Energy Partners Lp)
EMPLOYMENT NON-COMPETITION OBLIGATIONS. 5.1 7.1 As part of the consideration for the compensation and benefits to be paid to Employee hereunder, in keeping with Employee's duties as a fiduciary and in order to protect Employer's interests in the confidential information of Employer and the business relationships developed by Employee with the clients and potential clients of Employer, and as an additional incentive for Employer to enter into this Agreement, Employer and Employee agree to the non- non-competition provisions of this Article 57. Employee agrees that during the period of Employee's non-non- competition obligations hereunder, Employee will not, directly or indirectly for Employee or for others, in any geographic area or market where Employer or any of its affiliated companies are is conducting any business as of the date of termination of the employment relationship or have has during the previous twelve months conducted any business:
(i) engage in any business competitive with the business conducted by Employer;
(ii) render advice or services to, or otherwise assist, any other person, association, or entity who is engaged, directly or indirectly, in any business competitive with the business conducted by Employer;
(iii) induce any employee of Employer or any of its affiliates to terminate his or her employment with Employer or its affiliatesEmployer, or hire or assist in the hiring of any such employee by any person, association, or entity not affiliated with Employer. These non-competition obligations shall extend until the earlier of (a) expiration of the Term or (b) one year after termination of the employment relationship. Further, if Employer ceases to be pursuant publicly traded, Employee may exercise his right to voluntarily resign under Section 3.2(ii). If Employee exercises such right, these non-competition obligations shall expire immediately and have no further force and effect, and the Termination and Severance Provisions of Exhibit A.Employer shall have no further obligations to Employee under this Agreement.
5.2 7.2 Employee understands that the foregoing restrictions may limit his or her ability to engage in certain businesses anywhere in the world during the period provided for above, but acknowledges that Employee will receive sufficiently high remuneration and other benefits (e.g., the right to receive compensation under Section 3.5 for the remainder of the Term upon Involuntary Termination) under this Agreement to justify such restriction. Employee acknowledges that money damages would not be sufficient remedy for any breach of this Article 5 6 by Employee, and Employer shall be entitled to enforce the provisions of this Article 5 7 by terminating any payments then owing to Employee under this Agreement and/or to specific performance and injunctive relief as remedies for such breach or any threatened breach. Such remedies shall not be deemed the exclusive remedies for a breach of this Article 57, but shall be in addition to all remedies available at law or in equity to Employer, including, without limitation, the recovery of damages from Employee and his or her agents involved in such breach.
5.3 7.3 It is expressly understood and agreed that Employer and Employee consider the restrictions contained in this Article 5 7 to be reasonable and necessary to protect the proprietary information of Employer. Nevertheless, if any of the aforesaid restrictions are found by a court having jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by such courts so as to be reasonable and enforceable and, as so modified by the court, to be fully enforced.
Appears in 1 contract
EMPLOYMENT NON-COMPETITION OBLIGATIONS. 5.1 7.1 As part of the consideration for the compensation and benefits to be paid to Employee hereunder, in keeping with Employee's duties as a fiduciary and in order to protect Employer's interests in the confidential information of Employer and the business relationships developed by Employee with the clients and potential clients of Employer, and as an additional incentive for Employer to enter into this Agreement, Employer and Employee agree to the non- competition provisions of this Article 57. Employee agrees that during the period of Employee's non-competition obligations hereunder, Employee will not, directly or indirectly for Employee or for others, in any geographic area or market where Employer or Enron or any of its their affiliated companies are conducting any business as of the date of termination of the employment relationship or have during the previous twelve months conducted any business:
(i) engage in any business competitive with the business conducted by Employer;
(ii) render advice or services to, or otherwise assist, any other person, association, or entity who is engaged, directly or indirectly, in any business competitive with the business conducted by Employer;
(iii) induce any employee of Employer or Enron or any of its their affiliates to terminate his or her employment with Employer Employer, Enron, or its their affiliates, or hire or assist in the hiring of any such employee by person, association, or entity not affiliated with EmployerEnron. These non-competition obligations shall be pursuant to the Termination and Severance Provisions of Exhibit A.extend until June 30, 2003.
5.2 7.2 Employee understands that the foregoing restrictions may limit his or her ability to engage in certain businesses anywhere in the world during the period provided for above, but acknowledges that Employee will receive sufficiently high remuneration and other benefits (e.g., the right to receive compensation under Section 3.5 for the remainder of the Term upon Involuntary Termination) under this Agreement to justify such restriction. Employee acknowledges that money damages would not be sufficient remedy for any breach of this Article 5 7 by Employee, and Employer shall be entitled to enforce the provisions of this Article 5 7 by terminating any payments then owing to Employee under this Agreement and/or to specific performance and injunctive relief as remedies for such breach or any threatened breach. Such remedies shall not be deemed the exclusive remedies for a breach of this Article 57, but shall be in addition to all remedies available at law or in equity to Employer, including, without limitation, the recovery of damages from Employee and his or her agents involved in such breach.
5.3 7.3 It is expressly understood and agreed that Employer and Employee consider the restrictions contained in this Article 5 7 to be reasonable and necessary to protect the proprietary information of Employer. Nevertheless, if any of the aforesaid restrictions are found by a court having jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by such courts so as to be reasonable and enforceable and, as so modified by the court, to be fully enforced.
Appears in 1 contract
EMPLOYMENT NON-COMPETITION OBLIGATIONS. 5.1 7.1 As part of the consideration for the compensation and benefits to be paid to Employee hereunder, in keeping with Employee's duties as a fiduciary and in order to protect Employer's interests in the confidential information of Employer and the business relationships developed by Employee with the clients and potential clients of Employer, and as an additional incentive for Employer to enter into this Agreement, Employer and Employee agree to the non- non-competition provisions of this Article 57. Employee agrees that during the period of Employee's non-competition obligations hereunder, Employee will not, directly or indirectly for Employee or for others, in any geographic area or market where Employer or any of Employer, its affiliated companies Enterprises and other entities are conducting any business as of the date of termination of the employment relationship or have during the previous twelve months conducted any business:
(i) engage in any business competitive with the business conducted by Employer;
(ii) render advice or services to, or otherwise assist, any other person, association, or entity who is engaged, directly or indirectly, in any business competitive with the business conducted by Employer;
(iii) induce any employee of Employer or any of Employer, its affiliates Enterprises and other entities to terminate his or her employment with Employer or Employer, its affiliatesEnterprises and other entities, or hire or assist in the hiring of any such employee by person, association, or entity not affiliated with Employer. These non-competition obligations shall be pursuant to the Termination and Severance Provisions of Exhibit A.extend until December 31, 2008.
5.2 7.2 Employee understands that the foregoing restrictions may limit his or her ability to engage in certain businesses anywhere in the world during the period provided for above, but acknowledges that Employee will receive sufficiently high remuneration and other benefits (e.g., the right to receive compensation under Section 3.5 upon Involuntary Termination) under this Agreement to justify such restriction. Employee acknowledges that money damages would not be sufficient remedy for any breach of this Article 5 7 by Employee, and Employer shall be entitled to enforce the provisions of this Article 5 7 by terminating any payments then owing to Employee under this Agreement and/or to specific performance and injunctive relief as remedies for such breach or any threatened breach. Such remedies shall not be deemed the exclusive remedies for a breach of this Article 57, but shall be in addition to all remedies available at law or in equity to Employer, including, without limitation, the recovery of damages from Employee and his or her agents involved in such breach.
5.3 7.3 It is expressly understood and agreed that Employer and Employee consider the restrictions contained in this Article 5 7 to be reasonable and necessary to protect the proprietary information of Employer. Nevertheless, if any of the aforesaid restrictions are found by a court having jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by such courts so as to be reasonable and enforceable and, as so modified by the court, to be fully enforced.
Appears in 1 contract
Samples: Executive Employment Agreement (Inn of the Mountain Gods Resorts & Casino)
EMPLOYMENT NON-COMPETITION OBLIGATIONS. 5.1 7.1 As part of the consideration for the compensation and benefits to be paid to Employee hereunder, in keeping with Employee's duties as a fiduciary and in order to protect Employer's interests in the confidential information of Employer and the business relationships developed by Employee with the clients and potential clients of Employer, and as an additional incentive for Employer to enter into this Agreement, Employer and Employee agree to the non- competition provisions of this Article 57. Employee agrees that during the period of Employee's non-competition obligations hereunder, Employee will not, directly or indirectly for Employee or for others, in any geographic area or market where Employer or Enron or any of its their affiliated companies are conducting any business as of the date of termination of the employment relationship or have during the previous twelve months conducted any business:
(i) engage in any business competitive with the water business conducted by Employer;
(ii) render advice or services to, or otherwise assist, any other person, association, or entity who is engaged, directly or indirectly, in any business competitive with the water business conducted by Employer;
(iii) induce any employee of Employer or Enron or any of its their affiliates to terminate his or her employment with Employer Employer, Enron, or its their affiliates, or hire or assist in the hiring of any such employee by person, association, or entity not affiliated with EmployerEnron. These non-competition obligations shall be pursuant to extend until the Termination and Severance Provisions latter of Exhibit A.(a) expiration of the Term or (b) one year after termination of the employment relationship.
5.2 7.2 Employee understands that the foregoing restrictions may limit his or her ability to engage in certain businesses anywhere in the world during the period provided for above, but acknowledges that Employee will receive sufficiently high remuneration and other benefits (e.g., the right to receive compensation under Section 3.5 for the remainder of the Term upon Involuntary Termination) under this Agreement to justify such restriction. Employee acknowledges that money damages would not be sufficient remedy for any breach of this Article 5 7 by Employee, and Employer shall be entitled to enforce the provisions of this Article 5 7 by terminating any payments then owing to Employee under this Agreement and/or to specific performance and injunctive relief as remedies for such breach or any threatened breach. Such remedies shall not be deemed the exclusive remedies for a breach of this Article 57, but shall be in addition to all remedies available at law or in equity to Employer, including, without limitation, the recovery of damages from Employee and his or her agents involved in such breach.
5.3 7.3 It is expressly understood and agreed that Employer and Employee consider the restrictions contained in this Article 5 7 to be reasonable and necessary to protect the proprietary information of Employer. Nevertheless, if any of the aforesaid restrictions are found by a court having jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by such courts so as to be reasonable and enforceable and, as so modified by the court, to be fully enforced.
Appears in 1 contract
EMPLOYMENT NON-COMPETITION OBLIGATIONS. 5.1 6.1 As part of the consideration for the compensation and benefits to be paid to Employee hereunder, in keeping with Employee's duties as a fiduciary and in order to protect Employer's interests in the confidential information of Employer and the business relationships developed by Employee with the clients and potential clients of Employer, and as an additional incentive for Employer to enter into this Agreement, Employer and Employee agree to the non- non-competition provisions of this Article 56. Employee agrees that during the period of Employee's non-competition obligations hereunder, Employee will not, directly or indirectly for Employee or for others, in any geographic area or market where Employer or any of its affiliated companies are conducting any business as of the date of termination of the employment relationship or have during the previous twelve months conducted any business:
(i) engage in any business competitive with the business conducted by Employer;; or
(ii) render advice or services to, or otherwise assist, any other person, association, or entity who is engaged, directly or indirectly, in any business competitive with the business conducted by Employer;. If the employment relationship is terminated by Employer for cause under Section 3.1(i) or upon a Voluntary Termination of the employment relationship by Employee prior to the expiration of the Term, these non-competition obligations shall extend until two (2) years after the date of termination of the employment relationship. If the employment relationship is terminated under Section 3.1(iv), or by Employer under Section 3.1(ii), or by Employee under circumstances that constitute an Involuntary Termination of the employment relationship, these non-competition obligations shall extend until one (1) year after the date of termination of the employment relationship.
6.2 Until five (iii5) years after termination of the employment relationship, Employee shall not induce any employee of Employer or any of its affiliates to terminate his or her employment with Employer or its affiliates, or hire or assist in the hiring of any such employee by person, association, or entity not affiliated with Employer. These non-competition obligations shall be pursuant to the Termination and Severance Provisions of Exhibit A..
5.2 6.3 Employee understands that the foregoing restrictions may limit his or her ability to engage in certain businesses anywhere in the world during the period provided for above, but acknowledges that Employee will receive sufficiently high remuneration and other benefits (e.g., the right to receive compensation under Section 3.5 for the remainder of the Term upon Involuntary Termination) under this Agreement to justify such restriction. Employee acknowledges that money damages would not be sufficient remedy for any breach of this Article 5 6 by Employee, and Employer shall be entitled to enforce the provisions of this Article 5 6 by terminating any payments then owing to Employee under this Agreement and/or to specific performance and injunctive relief as remedies for such breach or any threatened breach. Such remedies shall not be deemed the exclusive remedies for a breach of this Article 56, but shall be in addition to all remedies available at law or in equity to Employer, including, without limitation, the recovery of damages from Employee and his or her agents involved in such breach.
5.3 6.4 It is expressly understood and agreed that Employer and Employee consider the restrictions contained in this Article 5 6 to be reasonable and necessary to protect the proprietary information of Employer. Nevertheless, if any of the aforesaid restrictions are found by a court having jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by such courts so as to be reasonable and enforceable and, as so modified by the court, to be fully enforced.
Appears in 1 contract
EMPLOYMENT NON-COMPETITION OBLIGATIONS. 5.1 6.1 As part of the consideration for the compensation and benefits to be paid to Employee hereunder, in keeping with Employee's duties as a fiduciary and in order to protect Employer's interests in the confidential information of Employer and the business relationships developed by Employee with the clients and potential clients of Employer, and as an additional incentive for Employer to enter into this Agreement, Employer and Employee agree to the non- non-competition provisions of this Article 56. Employee agrees that during the period of Employee's non-competition obligations hereunder, Employee will not, directly or indirectly for Employee or 9 for others, in any geographic area or market where Employer or Enron or any of its their affiliated companies are conducting any business as of the date of termination of the employment relationship or have during the previous twelve months conducted any business:
(i) engage in any business competitive with the business conducted by Employer;
(ii) render advice or services to, or otherwise assist, any other person, association, or entity who is engaged, directly or indirectly, in any business competitive with the business conducted by Employer;
(iii) induce any employee of Employer or Enron or any of its their affiliates to terminate his or her employment with Employer Employer, Enron, or its their affiliates, or hire or assist in the hiring of any such employee by person, association, or entity not affiliated with EmployerEnron. These non-competition obligations shall be pursuant to extend until the earlier of (a) expiration of the Term, or (b) one year after the termination of the employment relationship unless the termination is a Voluntary Termination and Severance Provisions as defined at Section 3.2 (ii). In the event of Exhibit A.a Voluntary Termination, these non-competition obligations shall extend for a period of one (1) year after Employee's Voluntary Termination.
5.2 6.2 Employee understands that the foregoing restrictions may limit his or her ability to engage in certain businesses anywhere in the world during the period provided for above, but acknowledges that Employee will receive sufficiently high remuneration and other benefits (e.g., the right to receive compensation under Section 3.5 for the remainder of the Term upon Involuntary Termination) under this Agreement to justify such restriction. Employee acknowledges that money damages would not be sufficient remedy for any breach of this Article 5 6 by Employee, and Employer shall be entitled to enforce the provisions of this Article 5 6 by terminating any payments then owing to Employee under this Agreement and/or to specific performance and injunctive relief as remedies for such breach or any threatened breach. Such remedies shall not be deemed the exclusive remedies for a breach of this Article 56, but shall be in addition to all remedies available at law or in equity to Employer, including, without limitation, the recovery of damages from Employee and his or her agents involved in such breach.
5.3 6.3 It is expressly understood and agreed that Employer and Employee consider the restrictions contained in this Article 5 6 to be reasonable and necessary to protect the proprietary information of Employer. Nevertheless, if any of the aforesaid restrictions are found by a court having jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by such courts so as to be reasonable and enforceable and, as so modified by the court, to be fully enforced.
Appears in 1 contract
Samples: Executive Employment Agreement (Enron Oil & Gas Co)
EMPLOYMENT NON-COMPETITION OBLIGATIONS. 5.1 7.1 As part of the consideration for the compensation and benefits to be paid to Employee hereunder, in keeping with Employee's duties as a fiduciary and in order to protect Employer's interests in the confidential information of Employer and the business relationships developed by Employee with the clients and potential clients of Employer, and as an additional incentive for Employer to enter into this Agreement, Employer and Employee agree to the non- non-competition provisions of this Article 57. Employee agrees that during the period of Employee's non-non- competition obligations hereunder, Employee will not, directly or indirectly for Employee or for others, in any geographic area or market where Employer or any of its affiliated companies are is conducting any business as of the date of termination of the employment relationship or have has during the previous twelve months conducted any business:
(i) engage in any business competitive with the business conducted by Employer;
(ii) render advice or services to, or otherwise assist, any other person, association, or entity who is engaged, directly or indirectly, in any business competitive with the business conducted by Employer;
(iii) induce any employee of Employer or any of its affiliates to terminate his or her employment with Employer or its affiliatesEmployer, or hire or assist in the hiring of any such employee by any person, association, or entity not affiliated with Employer. These non-competition obligations shall be pursuant extend until the earlier of (a) expiration of the Term or (b) one year after termination of the employment relationship. For purposes of this Section, it is specifically understood that Employee may return to private legal practice, without breaching the Termination and Severance Provisions provisions of Exhibit A.this Section.
5.2 7.2 Employee understands that the foregoing restrictions may limit his or her ability to engage in certain businesses anywhere in the world during the period provided for above, but acknowledges that Employee will receive sufficiently high remuneration and other benefits (e.g., the right to receive compensation under Section 3.5 for the remainder of the Term upon Involuntary Termination) under this Agreement to justify such restriction. Employee acknowledges that money damages would not be sufficient remedy for any breach of this Article 5 6 by Employee, and Employer shall be entitled to enforce the provisions of this Article 5 7 by terminating any payments then owing to Employee under this Agreement and/or to specific performance and injunctive relief as remedies for such breach or any threatened breach. Such remedies shall not be deemed the exclusive remedies for a breach of this Article 57, but shall be in addition to all remedies available at law or in equity to Employer, including, without limitation, the recovery of damages from Employee and his or her agents involved in such breach.
5.3 7.3 It is expressly understood and agreed that Employer and Employee consider the restrictions contained in this Article 5 7 to be reasonable and necessary to protect the proprietary information of Employer. Nevertheless, if any of the aforesaid restrictions are found by a court having jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by such courts so as to be reasonable and enforceable and, as so modified by the court, to be fully enforced.
Appears in 1 contract