Common use of Forfeiture of Compensation Clause in Contracts

Forfeiture of Compensation. Executive acknowledges and agrees that if Executive breaches of any of the non-disclosure or restrictive covenant provisions set forth in Sections 8 and/or 9 of this Agreement, then in such event Executive will have forfeited his right to receive, and the Company shall have the right immediately and permanently to discontinue payment of, any severance compensation that would otherwise be payable to Executive under Section 7.4, Section 7.5 or Section 7.7 of this Agreement without any recourse by Executive. The Company and Executive acknowledge and agree that such remedy is in addition to, and not in lieu of, any and all other legal and/or equitable remedies that may be available to the Company in connection with Executive’s breach or threatened breach, of any non-disclosure or restrictive covenant provision set forth in Sections 8 and 9 of this Agreement.

Forfeiture of Compensation. Executive acknowledges and agrees that if Executive knowingly breaches of any of the non-disclosure or restrictive covenant provisions set forth in Sections 8 and/or 9 of this Agreement, then in such event Executive will have forfeited his right to receive, and the Company shall have the right immediately and permanently to discontinue payment of, any severance compensation Severance Benefits that would otherwise be payable to Executive under Section 7.4, Section 7.5 or Section 7.7 of this Agreement without any recourse by Executive. The Company and Executive acknowledge and agree that such remedy is in addition to, and not in lieu of, any and all other legal and/or equitable remedies that may be available to the Company in connection with Executive’s breach or threatened breach, of any non-disclosure or restrictive covenant provision set forth in Sections 8 and 9 of this Agreement.

Forfeiture of Compensation. Executive acknowledges and agrees that if Executive breaches of any of the non-disclosure or restrictive covenant provisions set forth in Sections 8 and/or 9 of this Agreement, then in such event Executive will have forfeited his her right to receive, and the Company shall have the right immediately and permanently to discontinue payment of, any severance compensation that would otherwise be payable to Executive under Section 7.4, Section 7.5 or Section 7.7 of this Agreement without any recourse by Executive. The Company and Executive acknowledge and agree that such remedy is in addition to, and not in lieu of, any and all other legal and/or equitable remedies that may be available to the Company in connection with Executive’s breach or threatened breach, of any non-disclosure or restrictive covenant provision set forth in Sections 8 and 9 of this Agreement.