Common use of General Acknowledgment Clause in Contracts

General Acknowledgment. Executive acknowledges that: (a) his employment by Sbarro, throughout the term of his employment, will bring him into close contact with many confidential affairs of Sbarro, including information about costs, profits, markets, sales, products, key personnel, pricing policies, operational methods, recipes, technical processes and other business affairs and methods and other information not readily available to the public, and plans for future development; (b) the services to be performed by him under this Agreement are of a special, unique, unusual, extraordinary and intellectual character; (c) the business of Sbarro is international in scope, its products and services are marketed throughout the world and Sbarro competes with other entities that are or could be located in nearly any part of the world; and (d) the nature of his services, position and expertise are such that he is capable of competing with Sbarro from nearly any location in the world. In recognition of the foregoing, Executive: (i) agrees that the restrictions contained in this Article 6 are necessary for the protection of the trade secrets, proprietary information and contractual relationships of Sbarro, and are considered by Executive to be reasonable for such purpose; (ii) agrees and acknowledges that the Equity Grant constitutes good and valuable consideration for the covenant and obligations incurred by Executive pursuant to this Article 6; and (iii) agrees that he shall not challenge the reasonability or enforceability of his covenants set forth in this Article 6. Executive agrees that any breach by him of this Article 6 will cause Sbarro substantial and irrevocable damage and, therefore, without limiting Sbarro’s rights under Section 6.6, in the event of any such breach, Executive agrees that, notwithstanding anything in Article 5 to the contrary, he shall forfeit his right to receive the balance of any compensation (other than Base Salary and Annual Bonus earned or accrued, but unpaid, under this Agreement prior to the date of termination and other than accrued or vested benefits in accordance with and subject to the terms of Sbarro’s benefit plans and policies) thereafter due him under this Agreement.

Appears in 9 contracts

Samples: Employment Agreement (Sbarro Inc), Employment Agreement (Sbarro Express LLC), Employment Agreement (Sbarro Express LLC)

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General Acknowledgment. Executive acknowledges that: (a) his employment by Sbarro, throughout the term of his employment, will bring him into close contact with many confidential affairs of Sbarro, including information about costs, profits, markets, sales, products, key personnel, pricing policies, operational methods, recipes, technical processes and other business affairs and methods and other information not readily available to the public, and plans for future development; (b) the services to be performed by him under this Agreement are of a special, unique, unusual, extraordinary and intellectual character; (c) the business of Sbarro is international in scope, its products and services are marketed throughout the world and Sbarro competes with other entities that are or could be located in nearly any part of the world; and (d) the nature of his services, position and expertise are such that he is capable of competing with Sbarro from nearly any location in the world. In recognition of the foregoing, Executive: (i) agrees that the restrictions contained in this Article 6 are necessary for the protection of the trade secrets, proprietary information and contractual relationships of SbarroSbarro , and are considered by Executive to be reasonable for such purpose; (ii) agrees and acknowledges that the Equity Grant constitutes good and valuable consideration for the covenant and obligations incurred by Executive pursuant to this Article 6; and (iii) agrees that he shall not challenge the reasonability or enforceability of his covenants set forth in this Article 6. Executive agrees that any breach by him of this Article 6 will cause Sbarro substantial and irrevocable damage and, therefore, without limiting Sbarro’s rights under Section 6.6, in the event of any such breach, Executive agrees that, notwithstanding anything in Article 5 to the contrary, he shall forfeit his right to receive the balance of any compensation (other than Base Salary and Annual Bonus earned or accrued, but unpaid, under this Agreement prior to the date of termination and other than accrued or vested benefits in accordance with and subject to the terms of Sbarro’s benefit plans and policies) thereafter due him under this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Sbarro Express LLC)

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General Acknowledgment. Executive acknowledges that: (a) his employment by Sbarro, throughout the term of his employment, will bring him into close contact with many confidential affairs of Sbarro, including information about costs, profits, markets, sales, products, key personnel,, pricing policies, operational methods, recipes, technical processes and other business affairs and methods and other information not readily available to the public, and plans for future development; (b) the services to be performed by him under this Agreement are of a special, unique, unusual, extraordinary and intellectual character; (c) the business of Sbarro is international in scope, its products and services are marketed throughout the world and Sbarro competes with other entities that are or could be located in nearly any part of the world; and (d) the nature of his services, position and expertise are such that he is capable of competing with Sbarro from nearly any location in the world. In recognition of the foregoing, Executive: (i) agrees that the restrictions contained in this Article 6 are necessary for the protection of the trade secrets, proprietary information and contractual relationships of Sbarro, and are considered by Executive to be reasonable for such purpose; and (ii) agrees and acknowledges that the Equity Grant constitutes good and valuable consideration for the covenant and obligations incurred by Executive pursuant to this Article 6; and (iii) agrees that he shall not challenge the reasonability or enforceability of his covenants set forth in this Article 6. Executive agrees that any breach by him of this Article 6 will cause Sbarro substantial and irrevocable damage and, therefore, without limiting Sbarro’s rights under Section 6.6, in the event of any such breach, Executive agrees that, notwithstanding anything in Article 5 to the contrary, he shall forfeit his right to receive the balance of any compensation (other than Base Salary and Annual Bonus earned or accrued, but unpaid, under this Agreement prior to the date of termination and other than accrued or vested benefits in accordance with and subject to the terms of Sbarro’s benefit plans and policies) thereafter due him under this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Sbarro Inc)

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