Hiring Restriction. Contractor shall not hire an Employee of Government who has participated directly or indirectly in the procurement process for this Contract for at least one year after the award of the Contract.
Hiring Restriction. Each party agrees that, during the term of this AGREEMENT and for twenty-four (24) months thereafter, neither it nor any of its subsidiaries or affiliates shall, except with the prior written consent of the other party, offer employment to or employ any person employed then or within the preceding twenty-four (24) months by the other party (including any of that party's subsidiaries or affiliates).
Hiring Restriction. Except as otherwise provided in this Agreement, each Party agrees that neither it nor its Affiliates shall employ any person currently employed by the other Party or its Affiliates. Acknowledging that damage resulting from breach of this paragraph would be difficult or impossible to calculate, the breaching Party shall pay, for each such breach, a one-time fee equal to twenty-five percent (25%) of such employee’s first year’s salary with the hiring Party (such amount being deemed liquidated damages and not a penalty). The foregoing sentence shall not limit either Party’s right to seek equitable remedies for such a breach.
Hiring Restriction. 6.7.1 The parties acknowledge and agree that the retention of the services of the Named Executive is a critical factor on which the Buyer has based its decision to enter into this Agreement. In furtherance of the foregoing, if, during the period of eighteen months from and after the Closing Date, any Management Company, Venture Capital Fund, Commonly Controlled Affiliate or any of the Entities in which any Venture Capital Fund or any Commonly Controlled Affiliate holds an Equity Interest (each such entity, a “Portfolio Company”) (collectively, the “Restricted Parties”) hires the Named Executive (whether as employee, consultant, independent contractor or otherwise) (the “Hiring Restriction”), then the Buyer shall be entitled, as compensation, to withdraw from the Escrow Account (to the extent such funds are available or become available for release from the Escrow Account) the Applicable Percentage of the Liquidated Damages Amount. In any circumstance where Buyer is entitled to a payment from the Escrow Account pursuant to the immediately preceding sentence, Buyer and the Stockholders’ Representatives shall instruct the Escrow Agent to distribute to Buyer the amounts so provided to be distributed to Buyer. The Buyer acknowledges that (i) its sole right to collect the Applicable Percentage of the Liquidated Damages Amount shall be through a deduction from the Escrow Account, (ii) that the Escrow Account may not contain sufficient funds to pay the Buyer all or a portion of the Applicable Percentage of the Liquidated Damages Amount, and in this event the Buyer shall have no other right to collect the remainder of the Applicable Percentage of the Liquidated Damages Amount until such time (if ever) as additional funds are deposited into the Escrow Account pursuant to Section 8.1.3 of this Agreement, at which point Buyer shall be entitled to collect such remainder and (iii) under no circumstances shall the Buyer be permitted to collect the Applicable Percentage of the Liquidated Damages Amount through a claim directly against any Venture Capital Fund or any other Equityholder. * Omitted information is the subject of a request for confidential treatment pursuant to Rule 24b-2 under the Securities Exchange Act of 1934 and has been filed separately with the Securities and Exchange Commission.
Hiring Restriction. Licensee agrees that, during the term of this Agreement and for twenty-four (24) months thereafter, neither it nor any of its subsidiaries or affiliates shall, except with the prior written consent of CMSI, offer employment to or employ any person employed then or within the preceding twenty-four (24) months by CMSI or any subsidiary or affiliate of CMSI.
Hiring Restriction. During their service on Vitria's Board of Directors, and for one hundred eighty (180) days following the end of such service, unless otherwise approved by
Hiring Restriction. 11.1 Client acknowledges and agrees that Premier has a vested interest in Premier's employees ("Employees") as a result of the time and money invested in the hiring and training of Employees for the operation of the Executive Suites. Client agrees not to offer or accept for hire any of Premier's Employees (i) at any time during the term or this Agreement or any extension thereof, (ii) for a period of six (6) months following the termination of this Agreement, and (iii) for a period of sixty (60) days following an Employee's termination of employment with Premier. Premier and Client covenant and agree that because of the difficulty or impossibility of determining Premier's damages from Client's failure to fully comply with the terms of this Paragraph 11.1, Client agrees to make a "reimbursement payment" to Premier in the amount of Ten Thousand Dollars ($10, 000). Such reimbursement payment is agreed by Premier and Client to be a good faith and reasonable estimate of Premier's actual damages, and shall be deemed to be liquidated damages. WITNESS the signatures of the parties hereto, this 11th day of November, 2003. PREMIER: CLIENT: PREMIER EXECUTIVE SUITES RECALL MAIL CORPORATION /s/ Lori Panuska /s/ Darin Myman ------------------------------------- ---------------------------------------- Lori Panuska (Name) Darin Myman (Xxxx) ------------------------------- ---------------------------------- Title: General Manager Title: President ------------------------------- ---------------------------------- EXHIBIT A RULES AND REGULATIONS
