Judicial Remedies. In the event of a breach or threatened breach by the Director of any provision of these restrictions, the Director recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director consents to the Bank’s entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s rights hereunder and preventing the Director from further breaching any of his obligations set forth herein. The Director expressly waives any requirement based on any statute, rule of procedure, or other source that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the Director. The Director expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 hereof are reasonable in terms of scope, duration, geographic area, or otherwise, (ii) the protections afforded the Bank in Section 6.4 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 hereof will not be materially adverse to the Director’s service with the Bank, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 6 contracts
Samples: Split Dollar Life Insurance Agreement (Investors Bancorp Inc), Split Dollar Life Insurance Agreement (Investors Bancorp Inc), Split Dollar Life Insurance Agreement (Investors Bancorp Inc)
Judicial Remedies. In the event of a breach or threatened breach by the Director of any provision of these restrictions, the Director recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreementthese restrictions, the Director consents to the Bank’s entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s rights hereunder and preventing the Director from further breaching any of his obligations set forth herein. The Director expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the Director. The Director expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 5.4 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank in Section 6.4 5.4 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 5.4 hereof will not be materially adverse to the Director’s service with the Bank, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 6 contracts
Samples: Director Retirement Plan Agreement (Malvern Federal Bancorp Inc), Director Retirement Plan Agreement (Malvern Federal Bancorp Inc), Director Retirement Plan Agreement (Malvern Federal Bancorp Inc)
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreementthese restrictions, the Director Executive consents to the Bank’s entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 5.3 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank in Section 6.4 5.3 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 5.3 hereof will not be materially adverse to the DirectorExecutive’s service employment with the Bank, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 5 contracts
Samples: Supplemental Executive Retirement Agreement (North Penn Bancorp, Inc.), Supplemental Executive Retirement Agreement (New North Penn Bancorp Inc), Supplemental Executive Retirement Agreement (North Penn Bancorp, Inc.)
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the BankCompany, and further recognizes that in such event monetary damages may be inadequate to fully protect the BankCompany. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director Executive consents to the BankCompany’s entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the BankCompany’s rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank Company post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank Company from pursuing any other remedies available to the Bank Company at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 hereof 5.3.1 are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank Company in Section 6.4 hereof 5.3.1 are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 hereof 5.3.1 will not be materially adverse to the DirectorExecutive’s service employment with the BankCompany, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 4 contracts
Samples: Salary Continuation Agreement (Codorus Valley Bancorp Inc), Salary Continuation Agreement (Codorus Valley Bancorp Inc), Salary Continuation Agreement (Codorus Valley Bancorp Inc)
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreementthese restrictions, the Director Executive consents to the Bank’s entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 5.4 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank in Section 6.4 5.4 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 5.4 hereof will not be materially adverse to the DirectorExecutive’s service employment with the Bank, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 4 contracts
Samples: Supplemental Executive Retirement Plan Agreement (Malvern Federal Bancorp Inc), Supplemental Executive Retirement Plan Agreement (Malvern Federal Bancorp Inc), Supplemental Executive Retirement Plan Agreement (Malvern Federal Bancorp Inc)
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director Executive consents to the Bank’s entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 5.3.1 hereof are reasonable in terms of scope, duration, geographic area, or area and otherwise, (ii) the protections afforded the Bank in Section 6.4 5.3.1 hereof are necessary to protect its legitimate business interestinterests, (iii) the restrictions set forth in Section 6.4 5.3.1 hereof will not be materially adverse to the DirectorExecutive’s service employment with the Bank, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 3 contracts
Samples: Supplemental Executive Retirement Plan Agreement (Laurel Capital Group Inc), Supplemental Executive Retirement Plan Agreement (Laurel Capital Group Inc), Supplemental Executive Retirement Plan Agreement (Laurel Capital Group Inc)
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director Executive consents to the Bank’s 's entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s 's rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 5.4.1 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank in Section 6.4 5.4.1 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 5.4.1 hereof will not be materially adverse to the Director’s service Executive's employment with the Bank, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 3 contracts
Samples: Supplemental Executive Retirement Plan Agreement (Capital Bancorp Inc), Supplemental Executive Retirement Plan Agreement (Emclaire Financial Corp), Supplemental Executive Retirement Plan Agreement (Roma Financial Corp)
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director Executive consents to the Bank’s 's entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s 's rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 5.3.1 hereof are reasonable in terms of scope, duration, geographic area, or area and otherwise, (ii) the protections afforded the Bank in Section 6.4 5.3.1 hereof are necessary to protect its legitimate business interestinterests, (iii) the restrictions set forth in Section 6.4 5.3.1 hereof will not be materially adverse to the Director’s service Executive's employment with the Bank, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 2 contracts
Samples: Supplemental Executive Retirement Plan Agreement (Laurel Capital Group Inc), Supplemental Executive Retirement Plan Agreement (Laurel Capital Group Inc)
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director consents to Executive acknowledgment that the Bank’s entitlement to such Bank may seek ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 5.4.1 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank in Section 6.4 5.4.1 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 5.4.1 hereof will not be materially adverse to the DirectorExecutive’s service employment with the Bank, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 2 contracts
Samples: Supplemental Executive Retirement Plan Agreement (Community Heritage Financial, Inc.), Supplemental Executive Retirement Plan Agreement (Community Heritage Financial, Inc.)
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the BankCompany, and further recognizes that in such event monetary damages may be inadequate to fully protect the BankCompany. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director Executive consents to the Bank’s Company's entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s Company's rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank Company post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank Company from pursuing any other remedies available to the Bank Company at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 hereof 5.3.1 are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank Company in Section 6.4 hereof 5.3.1 are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 hereof 5.3.1 will not be materially adverse to the Director’s service Executive's employment with the BankCompany, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Codorus Valley Bancorp Inc), Salary Continuation Agreement (Codorus Valley Bancorp Inc)
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the BankCompany, and further recognizes that in such event monetary damages may be inadequate to fully protect the BankCompany. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director Executive consents to the Bank’s Company's entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s Company's rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank Company post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank Company from pursuing any other remedies available to the Bank Company at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 hereof 8.1 are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank Company in Section 6.4 hereof 8.1 are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 hereof 8.1 will not be materially adverse to the Director’s service Executive's employment with the BankCompany, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 2 contracts
Samples: Group Term Replacement Agreement (Tower Bancorp Inc), Group Term Replacement Agreement (Tower Bancorp Inc)
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director Executive consents to the Bank’s entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s rights hereunder and preventing the Director Executive from further breaching any of his her obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 5.3.1 hereof are reasonable in terms of scope, duration, geographic area, or area and otherwise, (ii) the protections afforded the Bank in Section 6.4 5.3.1 hereof are necessary to protect its legitimate business interestinterests, (iii) the restrictions set forth in Section 6.4 5.3.1 hereof will not be materially adverse to the DirectorExecutive’s service employment with the Bank, and (iv) his her agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 1 contract
Samples: Supplemental Executive Retirement Plan Agreement (Laurel Capital Group Inc)
Judicial Remedies. In the event of a breach or threatened breach by the Director of any provision of these restrictions, the Director recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the BankCompany, and further recognizes that in such event monetary damages may be inadequate to fully protect the BankCompany. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director consents to the Bank’s Company's entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s Company's rights hereunder and preventing the Director from further breaching any of his obligations set forth herein. The Director expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank Company post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank Company from pursuing any other remedies available to the Bank Company at law or in equity for such breach or threatened breach, including the recovery of damages from the Director. The Director expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 7.4.1 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank Company in Section 6.4 7.4.1 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 7.4.1 hereof will not be materially adverse to the Director’s 's service with the BankCompany, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 1 contract
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director Executive consents to the Bank’s 's entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s 's rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 7.4.1 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank in Section 6.4 7.4.1 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 7.4.1 hereof will not be materially adverse to the Director’s service Executive's employment with the Bank, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 1 contract
Samples: Phantom Stock Appreciation Rights Agreement (Roma Financial Corp)
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director Executive consents to the Bank’s entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 5.4.1 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank in Section 6.4 5.4.1 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 5.4.1 hereof will not be materially adverse to the DirectorExecutive’s service employment with the Bank, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 1 contract
Samples: Supplemental Executive Retirement Plan Agreement (First Perry Bancorp, Inc)
Judicial Remedies. In the event of a breach or threatened breach by the Director of any provision of these restrictions, the Director recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the BankCorporation, and further recognizes that in such event monetary damages may be inadequate to fully protect the BankCorporation. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director consents to the Bank’s Corporation entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the BankCorporation’s rights hereunder and preventing the Director from further breaching any of his obligations set forth herein. The Director expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank Corporation post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank Corporation from pursuing any other remedies available to the Bank Corporation at law or in equity for such breach or threatened breach, including the recovery of damages from the Director. The Director expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 4.4.1 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank Corporation in Section 6.4 4.4.1 hereof are necessary to protect its their legitimate business interest, (iii) the restrictions set forth in Section 6.4 4.4.1 hereof will not be materially adverse to the Director’s service with the BankCorporation, and (iv) his the Director’s agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 1 contract
Samples: Director Split Dollar Agreement (First Farmers & Merchants Corp)
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the BankCompany, and further recognizes that in such event monetary damages may be inadequate to fully protect the BankCompany. Accordingly, in the event of a breach or threatened breach of this Agreementagreement, the Director Executive consents to the Bank’s Company's entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s Company's rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank Company post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank Company from pursuing any other remedies available to the Bank Company at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 7.4.1 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank Company in Section 6.4 7.4.1 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 7.4.1 hereof will not be materially adverse to the Director’s service Executive's employment with the BankCompany, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreementagreement.
Appears in 1 contract
Judicial Remedies. In the event of a breach or Or threatened breach by the Director Participant of any provision of these restrictions, the Director Participant recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director Participant consents to the Bank’s 's entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s 's rights hereunder and preventing the Director Participant from further breaching any of his obligations set forth herein. The Director Participant expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorParticipant. The Director Participant expressly acknowledges and agrees that: :
(i) the restrictions set forth in Section 6.4 8.4.1 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, ,
(ii) the protections afforded the Bank in Section 6.4 8.4.1 hereof are necessary to protect its legitimate business interest, ,
(iii) the restrictions set forth in Section 6.4 8.4.1 hereof will not be materially adverse to the Director’s service Participant's employment with the Bank, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 1 contract
Samples: Group Term Carve Out Plan (Wayne Savings Bancshares Inc /De/)
Judicial Remedies. In the event of a breach or a threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director Executive consents to the Bank’s 's entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s 's rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the The restrictions set forth in Section 6.4 5.4.1 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank in Section 6.4 5.4.1 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 5.4.1 hereof will not be materially adverse to the Director’s service Executive's employment with the Bank, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 1 contract
Samples: Supplemental Executive Retirement Plan Agreement (Capital Bancorp Inc)
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreementthese restrictions, the Director Executive consents to the Bank’s entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 5.4.1 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank in Section 6.4 5.4.1 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 5.4.1 hereof will not be materially adverse to the DirectorExecutive’s service employment with the Bank, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 1 contract
Samples: Supplemental Executive Retirement Plan Agreement (Emclaire Financial Corp)
Judicial Remedies. In the event of a breach or threatened breach by the Director of any provision of these restrictions, the Director recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreementthese restrictions, the Director consents to the Bank’s entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s rights hereunder and preventing the Director from further breaching any of his obligations set forth herein. The Director expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the Director. The Director expressly acknowledges and FORM OF MALVERN FEDERAL SAVINGS BANK Director Retirement Plan Agreement agrees that: (i) the restrictions set forth in Section 6.4 5.4 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank in Section 6.4 5.4 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 5.4 hereof will not be materially adverse to the Director’s service with the Bank, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 1 contract
Samples: Director Retirement Plan Agreement (Malvern Federal Bancorp Inc)
Judicial Remedies. In the event of a breach or threatened breach by the Director Participant of any provision of these restrictions, the Director Participant recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this AgreementPlan, the Director Participant consents to the Bank’s entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s rights hereunder and preventing the Director Participant from further breaching any of his or her obligations set forth herein. The Director Participant expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorParticipant. The Director Participant expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 8.4.1 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank in Section 6.4 8.4.1 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 8.4.1 hereof will not be materially adverse to the DirectorParticipant’s service employment with the Bank, and (iv) his or her agreement to observe such restrictions forms a material part of the consideration for this AgreementPlan and the Bank’s determination to allow Participant to participate in the Plan.
Appears in 1 contract
Samples: Group Term Carve Out Plan (Laurel Capital Group Inc)
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreementthese restrictions, the Director Executive consents to the Bank’s entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank in Section 6.4 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 hereof will not be materially adverse to the DirectorExecutive’s service employment with the Bank, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 1 contract
Samples: Supplemental Life Insurance Agreement (Illini Corp)
Judicial Remedies. In the event of a breach or threatened breach by the Director Executive of any provision of these restrictions, the Director Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the BankCompany, and further recognizes that in such event monetary damages may be inadequate to fully protect the BankCompany. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director Executive consents to the BankCompany’s entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the BankCompany’s rights hereunder and preventing the Director Executive from further breaching any of his obligations set forth herein. The Director Executive expressly waives any requirement requirement, based on any statute, rule of procedure, or other source source, that the Bank Company post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Bank Company from pursuing any other remedies available to the Bank Company at law or in equity for such breach or threatened breach, including the recovery of damages from the DirectorExecutive. The Director Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 5.4.1 hereof are reasonable reasonable, in terms of scope, duration, geographic area, or and otherwise, (ii) the protections afforded the Bank Company in Section 6.4 5.4.1 hereof are necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 5.4.1 hereof will not be materially adverse to the DirectorExecutive’s service employment with the BankCompany, and (iv) his agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 1 contract
Samples: Supplemental Executive Retirement Plan Agreement (Lakeland Bancorp Inc)