Judicial Remedies. In the event of a breach or threatened breach by the Executive of any of the provisions of Section 7.10(a), the Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Employer, and further recognizes that in such event monetary damages may be inadequate to fully protect the Employer. Accordingly, in the event of a breach or threatened breach by the Executive of any of the provisions of Section 7.10(a), the Executive consents to the Employer's entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Employer's rights hereunder and preventing the Executive from further violating any of the Executive's obligations set out herein. The Executive expressly waives any requirement, based on any statute, rule of procedure, or other source, that the Employer post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Employer from pursuing any other remedies available to the Employer at law or in equity for such breach or threatened breach, including the recovery of damages from the Executive and the recoupment of all or part of the lump sum Change in Control benefit paid pursuant to Section 2.4 of this Agreement. The Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 7.10(a) are reasonable in terms of scope, duration, geographic area and otherwise; (ii) the protections afforded the Employer in Section 7.10(a) are necessary to protect its legitimate business interest; (iii) the restrictions set forth in Section 7.10(a) will not be materially adverse to the Executive's employment with the Employer; and (iv) the Executive's 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 (Emclaire Financial Corp), Supplemental Executive Retirement Plan Agreement (Emclaire Financial Corp), Supplemental Executive Retirement Plan Agreement (Emclaire Financial Corp)
Judicial Remedies. In the event of a breach or threatened breach by the Executive of any of the provisions of Section 7.10(a20(a), the Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the EmployerEmployers, and further recognizes that in such event monetary damages may be inadequate to fully protect the EmployerEmployers. Accordingly, in the event of a breach or threatened breach by the Executive of any of the provisions of Section 7.10(a20(a), the Executive consents to the Employer's Employers’ entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Employer's Employers’ rights hereunder and preventing the Executive from further violating breaching any of the Executive's ’s obligations set out herein. The Executive expressly waives any requirement, based on any statute, rule of procedure, or other source, that the Employer Employers post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Employer Employers from pursuing any other remedies available to the Employer Employers at law or in equity for such breach or threatened breach, including the recovery of damages from the Executive and the recoupment of all or part of the lump sum Change in Control benefit paid pursuant to Section 2.4 of this AgreementExecutive. The Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 7.10(a20(a) are reasonable in terms of scope, duration, geographic area and otherwise; (ii) the protections afforded the Employer Employers in Section 7.10(a20(a) are necessary to protect its their legitimate business interest; (iii) the restrictions set forth in Section 7.10(a20(a) will not be materially adverse to the Executive's ’s employment with the EmployerEmployers; and (iv) the Executive's ’s agreement to observe such restrictions forms a material part of the consideration for this Agreement.
Appears in 2 contracts
Samples: Change in Control Agreement (Emclaire Financial Corp), Change in Control Agreement (Emclaire Financial Corp)
Judicial Remedies. In the event of a breach or threatened breach by the Executive of any of the provisions of Section 7.10(a), the Executive recognizes the substantial and immediate harm that a breach or threatened breach will impose upon the Employer, and further recognizes that in such event monetary damages may be inadequate to fully protect the Employer. Accordingly, in the event of a breach or threatened breach by the Executive of any of the provisions of Section 7.10(a), the Executive consents to the Employer's entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Employer's rights hereunder and preventing the Executive from further violating any of the Executive's obligations set out herein. The Executive expressly waives any requirement, based on any statute, rule of procedure, or other source, that the Employer post a bond as a condition of obtaining any of the above-described remedies. Nothing herein shall be construed as prohibiting the Employer from pursuing any other remedies available to the Employer at law or in equity for such breach or threatened breach, including the recovery of damages from the Executive and the recoupment of all or part of the lump sum Change in Control benefit paid pursuant to Section 2.4 of this AgreementExecutive. The Executive expressly acknowledges and agrees that: (i) the restrictions set forth in Section 7.10(a) are reasonable in terms of scope, duration, geographic area and otherwise; (ii) the protections afforded the Employer in Section 7.10(a) are necessary to protect its legitimate business interest; (iii) the restrictions set forth in Section 7.10(a) will not be materially adverse to the Executive's employment with the Employer; and (iv) the Executive's 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)