NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 37 contracts
Samples: Employment Agreement (Roslyn Bancorp Inc), Employment Agreement (South Jersey Financial Corp Inc), Employment Agreement (Roslyn Bancorp Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 13 contracts
Samples: Employment Agreement (Firstfed America Bancorp Inc), Employment Agreement (Richmond County Financial Corp), Employment Agreement (Richmond County Financial Corp)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's ’s employment hereunder pursuant to Section 4 hereofof this Agreement, Executive agrees not to compete with the Holding Company or its Subsidiaries affiliates for a period of one (1) year following such termination in any city, town or county in which the Executive's ’s normal business office is located and the Holding Company or any of its Subsidiaries affiliates has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiariesaffiliates. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiariesaffiliates, its business and property in the event of Executive's ’s breach of this Subsection 10(a) Section 9(a), agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, affiliates will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's ’s partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that that, in the event of the termination of his employment pursuant to Section 7 hereof4 of this Agreement, Executive's ’s experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiariesaffiliates, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries affiliates from pursuing any other remedies available to the Holding Company or its Subsidiaries affiliates for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 9 contracts
Samples: Employment Agreement (If Bancorp, Inc.), Employment Agreement (If Bancorp, Inc.), Employment Agreement (If Bancorp, Inc.)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's ’s employment hereunder pursuant to Section 4 hereofof this Agreement, Executive agrees not to compete with the Holding Company Bank or its Subsidiaries affiliates for a period of one (1) year following such termination in any city, town or county in which the Executive's ’s normal business office is located and the Holding Company Bank or any of its Subsidiaries affiliates has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company Bank or its Subsidiariesaffiliates. The parties hereto, recognizing that irreparable injury will result to the Holding Company Bank or its Subsidiariesaffiliates, its business and property in the event of Executive's ’s breach of this Subsection 10(a) ), agree that in the event of any such breach by Executive, the Holding Company Bank or its Subsidiaries, affiliates will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's ’s partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that that, in the event of the termination of his employment pursuant to Section 7 hereof4 of this Agreement, Executive's ’s experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company Bank or its Subsidiariesaffiliates, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company Bank or its Subsidiaries affiliates from pursuing any other remedies available to the Holding Company Bank or its Subsidiaries affiliates for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 6 contracts
Samples: Employment Agreement (If Bancorp, Inc.), Employment Agreement (If Bancorp, Inc.), Employment Agreement (If Bancorp, Inc.)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries Institution for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries Institution has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its SubsidiariesInstitution. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its SubsidiariesInstitution, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its SubsidiariesInstitution, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, Institution and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries Institution from pursuing any other remedies available to the Holding Company or its Subsidiaries Institution for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 6 contracts
Samples: Employment Agreement (American Financial Holding Corp Inc), Savings Bank Employment Agreement (Roslyn Bancorp Inc), American Savings Bank Employment Agreement (American Financial Holdings Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's ’s employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's ’s normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of Executive's ’s breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's ’s partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof, Executive's ’s experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 5 contracts
Samples: Employment Agreement (Legacy Bancorp, Inc.), Employment Agreement (Legacy Bancorp, Inc.), Employment Agreement (Legacy Bancorp, Inc.)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's ’s employment hereunder pursuant to Section 4 hereofof this Agreement, Executive agrees not to compete with the Holding Company or its Subsidiaries affiliates for a period of one (1) year following such termination in any city, town or county in which the Executive's ’s normal business office is located and the Holding Company or any of its Subsidiaries affiliates has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiariesaffiliates. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiariesaffiliates, its business and property in the event of Executive's ’s breach of this Subsection 10(a) ), agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, affiliates will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's ’s partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof4 of this Agreement, Executive's ’s experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiariesaffiliates, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries affiliates from pursuing any other remedies available to the Holding Company or its Subsidiaries affiliates for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 5 contracts
Samples: Employment Agreement (Clifton Bancorp Inc.), Employment Agreement (Clifton Bancorp Inc.), Employment Agreement (Clifton Bancorp Inc.)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereofof this Agreement, Executive agrees not to compete with the Holding Company or its Subsidiaries for a the period in which he receives payments under Section 4(b) of one (1) year following such termination this Agreement in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereofof this Agreement, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 5 contracts
Samples: Employment Agreement (Connecticut Bancshares Inc/De), Employment Agreement (Connecticut Bancshares Inc/De), Employment Agreement (Connecticut Bancshares Inc/De)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any For a period of one (1) year following the payment of termination of Executive's employment hereunder pursuant benefits to Section 4 hereofExecutive under this agreement, Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination subsidiaries in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such one (1) year period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiariessubsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its SubsidiariesCompany, its business and property in the event of Executive's breach of this Subsection 10(a) Section 8(a), agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereoffollowing a Change in Control, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiariessubsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 4 contracts
Samples: Year Change in Control Agreement (Berkshire Hills Bancorp Inc), Year Change in Control Agreement (Berkshire Hills Bancorp Inc), Year Change in Control Agreement (Berkshire Hills Bancorp Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an officeoffice and any county adjacent to such city, town or county, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, Subsidiaries will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 4 contracts
Samples: Employment Agreement (Grand Central Financial Corp), Employment Agreement (Security of Pennsylvania Financial Corp), Employment Agreement (Security of Pennsylvania Financial Corp)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries for For a period of one (1) year following such the payment of termination benefits to Executive under this agreement, Executive agrees not to compete with the Institution or its affiliates in any city, town or county in which the Executive's ’s normal business office is located and the Holding Company Institution or any of its Subsidiaries affiliates has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such one (1) year period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its SubsidiariesInstitution. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its SubsidiariesInstitution, its business and property in the event of Executive's ’s breach of this Subsection 10(a) Section 7(a), agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, Institution will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's ’s partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that that, in the event of the termination of his employment pursuant to Section 7 hereoffollowing a Change in Control, Executive's ’s experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its SubsidiariesInstitution, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries Institution from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 3 contracts
Samples: Three Year Change in Control Agreement (Berkshire Hills Bancorp Inc), Three Year Change in Control Agreement (Berkshire Hills Bancorp Inc), Year Change in Control Agreement (Berkshire Hills Bancorp Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries Bank for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries Bank has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its SubsidiariesBank. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its SubsidiariesBank, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, Bank will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof4 of this Agreement, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its SubsidiariesBank, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries Bank for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 3 contracts
Samples: Berkshire Bank Employment Agreement (Berkshire Hills Bancorp Inc), Berkshire Bank Employment Agreement (Berkshire Hills Bancorp Inc), Berkshire Bank Employment Agreement (Berkshire Hills Bancorp Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiariessubsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiariessubsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiariessubsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof4 of this Agreement, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiariessubsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 3 contracts
Samples: Employment Agreement (Berkshire Hills Bancorp Inc), Employment Agreement (Berkshire Hills Bancorp Inc), Employment Agreement (Berkshire Hills Bancorp Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereofof this Agreement, Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereofof this Agreement, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 3 contracts
Samples: Employment Agreement (Bay State Bancorp Inc), Employment Agreement (Dutchfork Bancshares Inc), Employment Agreement (Dutchfork Bancshares Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereofof this Agreement, Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a11(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereofof this Agreement, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 3 contracts
Samples: Pulaski Financial Corp. Employment Agreement (Pulaski Financial Corp), Pulaski Financial Corp (Pulaski Financial Corp), Employment Agreement (Pulaski Financial Corp)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 3 contracts
Samples: Employment Agreement (Roslyn Bancorp Inc), Agreement and Plan of Merger (Tr Financial Corp), Agreement and Plan of Merger (Roslyn Bancorp Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's ’s employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's ’s normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of Executive's ’s breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, Subsidiaries will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's ’s partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof, Executive's ’s experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 2 contracts
Samples: First Place Financial (First Place Financial Corp /De/), First Place Financial (First Place Financial Corp /De/)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's ’s employment hereunder pursuant for any reason, including but not limited to Section 4 hereofexpiration of this Agreement, Executive agrees not to compete with the Holding Company or its Subsidiaries Bank for a period of one twelve (112) year months following such termination in Xxxxxxxxx County, Tennessee, or in any city, city or town or county in which the Executive's normal business office is located and the Holding Company Bank operates a branch or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an main office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that that, during such period and within said cities, towns and countiesperiod, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company Bank. Executive specifically further agrees that he will not, for the twelve (12) month non-competition period work in either a paid or its Subsidiariesunpaid capacity with any individual or group proposing to establish a new bank or other financial institution in Bank’s market area. For purposes of this provision, the Bank’s “market area” shall be deemed to include all of Xxxxxxxxx County, Tennessee. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its SubsidiariesBank, its business and property in the event of Executive's ’s breach of this Subsection Subparagraph 10(a) ), agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, Bank will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's ’s partners, agents, servants, employers, employees and all persons acting for or under the direction of with Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 Paragraph 8 hereof, Executive's ’s experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its SubsidiariesBank, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries Bank from pursuing any other remedies available to the Holding Company or its Subsidiaries Bank for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 2 contracts
Samples: Employment Agreement (Commerce Union Bancshares, Inc.), Employment Agreement (Commerce Union Bancshares, Inc.)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiariessubsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiariessubsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiariessubsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 4 hereof, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiariessubsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 2 contracts
Samples: Employment Agreement (Woronoco Bancorp Inc), Employment Agreement (Woronoco Bancorp Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) 10.(a), agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his her employment pursuant to Section 7 hereof, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries for a the period in which he receives payments under Section 4(b) of one (1) year following such termination this Agreement in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
Samples: Employment Agreement (Connecticut Bancshares Inc/De)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries Bank for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries Bank has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its SubsidiariesBank. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its SubsidiariesBank, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, Bank will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereofof this Agreement, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its SubsidiariesBank, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries Bank for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries for For a period of one (1) year following such the payment of termination benefits to Executive under this agreement, Executive agrees not to compete with the Employers or their affiliates in any city, town or county in which within a sixty (60) mile radius of the Executive's normal Employers’ principal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such one (1) year period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its SubsidiariesEmployers. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its SubsidiariesEmployers, its their business and property in the event of Executive's ’s breach of this Subsection 10(a) Section 7(a), agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, Employers will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's ’s partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that that, in the event of the termination of his employment pursuant to Section 7 hereoffollowing a Change in Control, Executive's ’s experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its SubsidiariesEmployers, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries Employers from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
Samples: Three Year Change in Control Agreement (Berkshire Hills Bancorp Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiariessubsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiariessubsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiariessubsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereofof this Agreement, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiariessubsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any For a period of one (1) year following the payment of termination of Executive's employment hereunder pursuant benefits to Section 4 hereofExecutive under this agreement, Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination subsidiaries in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such one (1) year period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiariessubsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its SubsidiariesCompany, its business and property in the event of Executive's breach of this Subsection 10(a) Section 8(a), agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his her employment pursuant to Section 7 hereoffollowing a Change in Control, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiariessubsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 4 hereof, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
Samples: Employment Agreement (American Financial Holdings Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries subsidiaries for a period of one (1____) year following such termination in any city, town or county in which the in-----which Executive's normal business office is located and the Holding Company or any of its Subsidiaries subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiariessubsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiariessubsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiariessubsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof4 of this Agreement, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiariessubsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereofof this Agreement, Executive agrees not to compete with the Holding Company Employer or its Subsidiaries subsidiaries for a period of one (1) year following such termination in any city, town or county Tolland County in which the Executive's normal business office is located and the Holding Company Employer or any of its Subsidiaries subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date Effective Date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such period and within said cities, towns and countiesTolland County, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company Employer or its Subsidiariessubsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company Employer or its Subsidiariessubsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) ), agree that in the event of any such breach by Executive, the Holding Company Employer or its Subsidiaries, subsidiaries will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof4 of this Agreement, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company Employer or its Subsidiariessubsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company Employer or its Subsidiaries subsidiaries from pursuing any other remedies available to the Holding Company Employer or its Subsidiaries subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
Samples: Employment Agreement (Alliance Bancorp of New England Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries Bank for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries Bank has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its SubsidiariesBank. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its SubsidiariesBank, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, Bank will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his her employment pursuant to Section 7 hereof4 of this Agreement, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its SubsidiariesBank, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries Bank for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
Samples: Berkshire Bank Employment Agreement (Berkshire Hills Bancorp Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section either Paragraph 4 hereofor 5 of this Agreement, Executive agrees not to compete with the Holding Bank or Company or its Subsidiaries subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Bank or Company or any of its Subsidiaries subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors of either Bank or Company. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Bank or Company or its Subsidiariessubsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Bank or Company or its Subsidiariessubsidiaries, its business and property in the event of Executive's breach of this Paragraph 10 Subsection 10(a(a) agree that in the event of any such breach by Executive, the Holding Bank or Company or its Subsidiariessubsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereofParagraphs 4 or 5 of this Agreement, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Bank or Company or its Subsidiariessubsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Bank or Company or its Subsidiaries subsidiaries from pursuing any other remedies available to the Holding Bank or Company or its Subsidiaries subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
Samples: Employment Agreement (Northeast Pennsylvania Financial Corp)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries for For a period of one (1) year following such the payment of termination benefits to Executive under this agreement, Executive agrees not to compete with the Institution or its affiliates in any city, town or county in which the Executive's normal business office is located and the Holding Company Institution or any of its Subsidiaries affiliates has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such one (1) year period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its SubsidiariesInstitution. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its SubsidiariesInstitution, its business and property in the event of Executive's breach of this Subsection 10(a) Section 7(a), agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, Institution will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that that, in the event of the termination of his her employment pursuant to Section 7 hereoffollowing a Change in Control, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its SubsidiariesInstitution, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries Institution from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his her employment pursuant to Section 7 hereof, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
Samples: Employment Agreement (Virginia Capital Bancshares Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiariessubsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiariessubsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiariessubsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his her employment pursuant to Section 7 4 hereof, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiariessubsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section either Paragraph 4 hereofor 5 of this Agreement, at any time after September 13, 2004, Executive agrees not to compete with the Holding Bank or Company or its Subsidiaries subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Bank or Company or any of its Subsidiaries subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors of either Bank or Company. Should such termination occur during the first year of Executive's employment, the term of Executive's agreement not to compete with the Bank or the Company or its subsidiaries, shall be for a period of six (6) months. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Bank or Company or its Subsidiariessubsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Bank or Company or its Subsidiariessubsidiaries, its business and property in the event of Executive's breach of this Paragraph 10 Subsection 10(a(a) agree that in the event of any such breach by Executive, the Holding Bank or Company or its Subsidiariessubsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereofParagraphs 4 or 5 of this Agreement, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Bank or Company or its Subsidiariessubsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Bank or Company or its Subsidiaries subsidiaries from pursuing any other remedies available to the Holding Bank or Company or its Subsidiaries subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
Samples: Employment Agreement (Northeast Pennsylvania Financial Corp)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereofof this Agreement, Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of Executive's breach of this Subsection subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereofof this Agreement, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's ’s employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries Employers for a period of one (1) year following such termination in any city, town or county in which the Executive's ’s normal business office is located and the Holding Company or any of its Subsidiaries has Employers have an office or has have filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its SubsidiariesEmployers. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its SubsidiariesEmployers, its business and property in the event of Executive's ’s breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, Employers will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's ’s partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof4 of this Agreement, Executive's ’s experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its SubsidiariesEmployers, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries Employers for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries for For a period of one (1) year following such the payment of termination benefits to Executive under this agreement, Executive agrees not to compete with the Institution or its affiliates in any city, town or county in which the Executive's normal business office is located and the Holding Company Institution or any of its Subsidiaries affiliates has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such one (1) year period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its SubsidiariesInstitution. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its SubsidiariesInstitution, its business and property in the event of Executive's breach of this Subsection 10(a) Section 7(a), agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, Institution will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that that, in the event of the termination of his employment pursuant to Section 7 hereoffollowing a Change in Control, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its SubsidiariesInstitution, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries Institution from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiariessubsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiariessubsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiariessubsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his her employment pursuant to Section 7 hereof4 of this Agreement, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiariessubsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereofhereunder, Executive agrees not to compete with the Holding Company or its Subsidiaries subsidiaries for a period of one (1) year three years following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiariessubsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiariessubsidiaries, its their business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach, or threatened breach by Executive, the Holding Company or its Subsidiaries, subsidiaries will be entitled, in addition to any other remedies and damages available, including but not limited to those available pursuant to MCLA 445.1901 et. seq., an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof4 of this Agreement, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiariessubsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of the Executive's employment hereunder pursuant to Section 4 hereof, the Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. The Executive agrees that during such period and within said cities, towns and counties, the Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of the Executive's breach of this Subsection 10(a) agree that in the event of any such breach by the Executive, the Holding Company or its Subsidiaries, Subsidiaries will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by the Executive, the Executive's partners, agents, servants, employees and all persons acting for or under the direction of the Executive. The Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof, the Executive's experience and capabilities are such that the Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent the Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from the Executive.
Appears in 1 contract
Samples: Year Employment Agreement (First Lincoln Bancshares Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of the Executive's employment hereunder pursuant to Section 4 hereof, the Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. The Executive agrees that during such period and within said cities, towns and counties, the Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of the Executive's breach of this Subsection 10(a) agree that in the event of any such breach by the Executive, the Holding Company or its Subsidiaries, will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by the Executive, the Executive's partners, agents, servants, employees and all persons acting for or under the direction of the Executive. The Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof, the Executive's experience and capabilities are such that the Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent the Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from the Executive.
Appears in 1 contract
Samples: Employment Agreement (First Lincoln Bancshares Inc)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's employment hereunder pursuant to Section 4 hereof, Executive agrees not to compete with the Holding Company or its Subsidiaries for a period of one (1) year following such termination in any city, town or county in which the Executive's normal business office is located and the Holding Company or any of its Subsidiaries has an office or has filed an application for regulatory approval to establish an officeoffice and any county adjacent to such city, town or county, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiaries, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Holding Company or its Subsidiaries, Subsidiaries will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his her employment pursuant to Section 7 hereof, Executive's experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract
Samples: Northeast Pennsylvania Financial Corp (Northeast Pennsylvania Financial Corp)
NON-COMPETITION AND NON-DISCLOSURE. (a) Upon any termination of Executive's ’s employment hereunder pursuant to Section 4 hereofhereunder, Executive agrees not to compete with the Holding Company or its Subsidiaries subsidiaries for a period of one (1) year three years following such termination in any city, town or county in which the Executive's ’s normal business office is located and the Holding Company or any of its Subsidiaries subsidiaries has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the BoardBoard of Directors. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Holding Company or its Subsidiariessubsidiaries. The parties hereto, recognizing that irreparable injury will result to the Holding Company or its Subsidiariessubsidiaries, its their business and property in the event of Executive's ’s breach of this Subsection 10(a) agree that in the event of any such breach, or threatened breach by Executive, the Holding Company or its Subsidiaries, subsidiaries will be entitled, in addition to any other remedies and damages available, including but not limited to those available pursuant to MCLA 445.1901 et. seq., an injunction to restrain the violation hereof by Executive, Executive's ’s partners, agents, servants, employees and all persons acting for or under the direction of Executive. Executive represents and admits that in the event of the termination of his employment pursuant to Section 7 hereof4 of this Agreement, Executive's ’s experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Holding Company or its Subsidiariessubsidiaries, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Holding Company or its Subsidiaries subsidiaries from pursuing any other remedies available to the Holding Company or its Subsidiaries subsidiaries for such breach or threatened breach, including the recovery of damages from Executive.
Appears in 1 contract