Common use of Forfeiture and Repayment for Violation of Non-Compete Clause in Contracts

Forfeiture and Repayment for Violation of Non-Compete. Notwithstanding the foregoing, Salary Continuation and the COBRA subsidy provided pursuant to paragraph (iii), above, will terminate and forever lapse if (A) Executive is employed by a “Seritage Competitor” (as defined in Section 7(c), below) during the first 12 months following the Date of Termination or in the event of Executive’s breach of Section 7(c), or (B) (i) within twelve (12) months following the Date of Termination, Seritage discovers for the first time that the Executive committed Cause under prong (i) of the definition thereof prior to the Date of Termination and (ii) the acts or omissions which constituted Cause resulted in material economic gain to the Executive at the expense of Seritage and Executive shall be required to reimburse Seritage for any portion of the Salary Continuation paid to Executive.

Forfeiture and Repayment for Violation of Non-Compete. Notwithstanding the foregoing, the right to the Change in Control Salary Continuation Payment and the COBRA subsidy provided pursuant to paragraph (iii), above, will terminate and forever lapse be forfeited if (A) Executive is employed by a “Seritage Competitor” (as defined in Section 7(c), below) during the first 12 months following the Date of Termination or in the event of Executive’s breach of Section 7(c), ) below) or (B) (i) within twelve (12) months following the Date of Termination, Seritage discovers for the first time that the Executive committed Cause under prong (i) of the definition thereof prior to the Date of Termination and (ii) the acts or omissions which constituted Cause resulted in material economic gain to the Executive at the expense of Seritage and Executive shall be required to reimburse Seritage for any portion of the Change in Control Salary Continuation paid to ExecutivePayment.

Forfeiture and Repayment for Violation of Non-Compete. Notwithstanding the foregoing, Salary Continuation and the COBRA subsidy provided pursuant to paragraph (iii), above, will terminate and forever lapse if (A) Executive is employed by a “Seritage Competitor” (as defined in Section 7(c), below) during the first 12 twelve (12) months following the Date of Termination or in the event of Executive’s breach of Section 7(c), or (B) (i1) within twelve (12) months following the Date of Termination, Seritage discovers for the first time that the Executive committed Cause under prong (i) of the definition thereof prior to the Date of Termination and (ii2) the acts or omissions which constituted Cause resulted in material economic gain to the Executive at the expense of Seritage and Seritage. In such event, Executive shall also be required to reimburse Seritage for any portion of the Salary Continuation paid to Executive.

Forfeiture and Repayment for Violation of Non-Compete. Notwithstanding the foregoing, Salary Continuation and the COBRA subsidy provided pursuant to paragraph (iii), above, will terminate and forever lapse if (A) Executive is employed by a “"Seritage Competitor” " (as defined in Section 7(c), below) during the first 12 twelve (12) months following the Date of Termination or in the event of Executive’s 's breach of Section 7(c), or (B) (i1) within twelve (12) months following the Date of Termination, Seritage discovers for the first time that the Executive committed Cause under prong (i) of the definition thereof prior to the Date of Termination and (ii) the acts or omissions which constituted Cause resulted in material economic gain to the Executive at the expense of Seritage and Seritage, Executive shall be required to reimburse Seritage for any portion of the Salary Continuation paid to Executive.