Common use of Executive’s Acknowledgment Clause in Contracts

Executive’s Acknowledgment. Executive agrees and acknowledges that in order to assure the Company that the Company will retain its value as a going concern, it is necessary that Executive undertake not to utilize his special knowledge of the Company’s business and his relationships with customers and suppliers to compete with the Company. Executive further acknowledges that: (i) Executive is one of a limited number of persons who has developed the Company’s business; (ii) Executive has occupied a position of trust and confidence with the Company prior to the date of this Agreement and, during such period and Employee’s employment under this Agreement, Employee has acquired and will acquire an intimate knowledge of proprietary and confidential information concerning the Company and its business; (iii) the agreements and covenants contained in Sections 10(b), (c), (d), (e), (f) and (g) are essential to protect the Company and the goodwill of its business; (iv) Executive’s employment with the Company has special, unique and extraordinary value to the Company, and the Company would be irreparably damaged if Executive were to provide services to any person or entity or otherwise act in violation of the provisions of this Agreement; (v) the scope and duration of the restrictive covenants in Section 10(b) are reasonably designed to protect a protected interest of the Company and are not excessive in light of the circumstances; and (vi) Executive has a means to support himself and his dependents other than by engaging in conduct prohibited by the restrictive covenants in Section 10(b), and the provisions of Sections 10(b) will not impair such ability.

Executive’s Acknowledgment. Executive agrees and acknowledges that in order to assure the Company that the Company will retain its value as a going concern, it is necessary that Executive undertake not to utilize his special knowledge of the Company’s 's business and his relationships with customers and suppliers to compete with the Company. Executive further acknowledges that: (i) Executive is one of a limited number of persons who has developed the Company’s 's business; (ii) Executive has occupied a position of trust and confidence with the Company prior to the date of this Agreement and, during such period and Employee’s 's employment under this Agreement, Employee has acquired and will acquire an intimate knowledge of proprietary and confidential information concerning the Company and its business; (iii) the agreements and covenants contained in Sections 10(b), (c), (d), (e), (f) and (g) are essential to protect the Company and the goodwill of its business; (iv) Executive’s 's employment with the Company has special, unique and extraordinary value to the Company, and the Company would be irreparably damaged if Executive were to provide services to any person or entity or otherwise act in violation of the provisions of this Agreement; (v) the scope and duration of the restrictive covenants in Section 10(b) are reasonably designed to protect a protected interest of the Company and are not excessive in light of the circumstances; and (vi) Executive has a means to support himself and his dependents other than by engaging in conduct prohibited by the restrictive covenants in Section 10(b), and the provisions of Sections 10(b) will not impair such ability.

Executive’s Acknowledgment. Executive agrees and acknowledges that in order to assure the Company that the Company will retain its value as a going concern, it is necessary that Executive undertake not to utilize his special knowledge of the Company’s business and his relationships with customers and suppliers to compete with the Company. Executive further acknowledges that: (i) Executive is one of a limited number of persons who has developed the Company’s business; (ii) Executive has occupied a position of trust and confidence with the Company prior to the date of this Agreement and, during such period and Employee’s employment under this Agreement, Employee has acquired and will acquire an intimate knowledge of proprietary and confidential information concerning the Company and its business; (iii) the agreements and covenants contained in Sections 10(b7(b), (c), (d), (e), (f) and (g) are essential to protect the Company and the goodwill of its business; (iv) Executive’s employment with the Company has special, unique and extraordinary value to the Company, and the Company would be irreparably damaged if Executive were to provide services to any person or entity or otherwise act in violation of the provisions of this Agreement; (v) the scope and duration of the restrictive covenants in Section 10(b7(b) are reasonably designed to protect a protected interest of the Company and are not excessive in light of the circumstances; and (vi) Executive has a means to support himself and his dependents other than by engaging in conduct prohibited by the restrictive covenants in Section 10(b7(b), and the provisions of Sections 10(b7(b) will not impair such ability.