Common use of Reformation Clause in Contracts

Reformation. Company and Executive agree that the foregoing restrictions are reasonable under the circumstances and that any breach of the covenants contained in this Article 7 would cause irreparable injury to Company. Executive understands that the foregoing restrictions may limit Executive’s ability to engage in certain businesses anywhere in the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Period, but acknowledges that Executive will receive sufficiently high remuneration and other benefits from Company to justify such restriction. Nevertheless, if any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, Company and Executive intend to make this provision enforceable under the law or laws of all applicable States so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 16 contracts

Samples: Employment Agreement (Concho Resources Inc), Employment Agreement (Concho Resources Inc), Employment Agreement (Concho Resources Inc)

AutoNDA by SimpleDocs

Reformation. The Company and Executive agree that the foregoing restrictions are reasonable under the circumstances and that any breach of the covenants contained in this Article 7 VIII would cause irreparable injury to the Company. Executive understands that the foregoing restrictions may limit Executive’s ability to engage in certain businesses anywhere in the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, Restricted Area during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Prohibited Period, but acknowledges that Executive will receive sufficiently high remuneration and other benefits sufficient consideration from the Company to justify such restriction. Further, Executive acknowledges that Executive’s skills are such that Executive can be gainfully employed in non-competitive employment, and that the agreement not to compete will not prevent Executive from earning a living. Nevertheless, if any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein herein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, the Company and Executive intend to make this provision enforceable under the law or laws of all applicable States States, Provinces and other jurisdictions so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 10 contracts

Samples: Employment Agreement (Extraction Oil & Gas, Inc.), Employment Agreement (Extraction Oil & Gas, Inc.), Retirement and Consulting Agreement (Forum Energy Technologies, Inc.)

Reformation. The Company and Executive agree that the foregoing restrictions are reasonable under the circumstances in all respects and that any breach of the covenants contained in this Article 7 VII would cause irreparable injury to Companythe Company Group. Executive understands that the foregoing restrictions may limit Executive’s ability to engage in certain businesses anywhere in the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, Restricted Area during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Prohibited Period, but acknowledges that Executive will receive sufficiently high remuneration and other benefits sufficient consideration from the Company to justify such restriction. Further, Executive acknowledges that Executive’s skills are such that Executive can be gainfully employed in non-competitive employment, and that the agreement not to compete will not prevent Executive from earning a living. Nevertheless, if any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein herein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, the Company and Executive intend to make this provision enforceable under the law or laws of all applicable States jurisdictions so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 9 contracts

Samples: Employment Agreement (Nine Energy Service, Inc.), Employment Agreement (Nine Energy Service, Inc.), Employment Agreement (Nine Energy Service, Inc.)

Reformation. Company and Executive agree that the foregoing restrictions are reasonable under the circumstances and that any breach of the covenants contained in this Article 7 would cause irreparable injury to Company. Executive understands that the foregoing restrictions may limit Executive’s ability to engage in certain businesses anywhere in the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Period, but acknowledges that Executive will receive sufficiently high remuneration and other benefits from Company to justify such restriction. Further, Executive acknowledges that his skills are such that he can be gainfully employed in non-competitive employment, and that the agreement not to compete will in no way prevent him from earning a living. Nevertheless, if any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, Company and Executive intend to make this provision enforceable under the law or laws of all applicable States so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 6 contracts

Samples: Employment Agreement (Superior Well Services, INC), Employment Agreement (Superior Well Services, INC), Employment Agreement (Superior Well Services, INC)

Reformation. The Company and Executive Employee agree that the foregoing restrictions are reasonable under the circumstances and that any breach of the covenants contained in this Article 7 would VI may cause irreparable injury to the Company. Executive Employee understands that the foregoing restrictions may limit ExecutiveEmployee’s ability to engage in certain businesses anywhere in the United States or such other geographic areas or markets in which Company or any restricted area and on behalf of its affiliates are conducting business or have, certain entities during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Prohibited Period, but acknowledges that Executive such restrictions will receive sufficiently high remuneration and other benefits not prevent Employee from Company to justify such restrictionearning a living. Nevertheless, if any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, the Company and Executive Employee intend to make this provision enforceable under the law or laws of all applicable States and other applicable jurisdictions so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive Employee under this Agreement.

Appears in 5 contracts

Samples: Employment Agreement, Employment Agreement (Carriage Services Inc), Employment Agreement (Carriage Services Inc)

Reformation. The Company and the Executive agree that the foregoing restrictions set forth in Articles III and IV are reasonable under the circumstances and that any breach of the covenants contained in this Article 7 Articles III or IV would cause irreparable injury to the Company. The Executive understands that the foregoing restrictions may limit the Executive’s ability to engage in certain businesses anywhere in or involving the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, Restricted Area during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Restricted Period, but acknowledges that the Executive will shall receive Confidential Information and trade secrets, as well as sufficiently high remuneration and other benefits from as an employee of the Company to justify such restrictionrestrictions. Nevertheless, if If any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein herein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, the Company and the Executive intend to make this provision enforceable under the law or laws of all applicable States jurisdictions so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 4 contracts

Samples: Employment Agreement (BioSig Technologies, Inc.), Employment Agreement (BioSig Technologies, Inc.), Employment Agreement (Pioneer Power Solutions, Inc.)

Reformation. The Company and Executive the Participant agree that the foregoing restrictions set forth in this Exhibit B are reasonable under the circumstances and that any a breach of the covenants contained in this Article 7 would Exhibit B may cause irreparable injury to the Company. Executive The Participant understands that the foregoing restrictions may limit Executivethe Participant’s ability to engage in certain businesses anywhere in or involving the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, Restricted Area during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Restricted Period, but acknowledges that Executive will the Participant shall receive Confidential Information and trade secrets, as well as sufficiently high remuneration and other benefits from as an employee of the Company to justify such restrictionrestrictions. Nevertheless, if If any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties Parties intend for the restrictions therein herein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, the Company and Executive the Participant intend to make this provision enforceable under the law or laws of all applicable States jurisdictions so that the entire agreement not to compete and this Agreement Exhibit B as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 3 contracts

Samples: Cash Based Performance Award Agreement (Tuesday Morning Corp/De), Nonqualified Stock Option Award Agreement (Tuesday Morning Corp/De), Nonqualified Stock Option Award Agreement (Tuesday Morning Corp/De)

Reformation. The Company and the Executive agree that the foregoing restrictions set forth in Section 5 are reasonable under the circumstances and that any a breach of the covenants contained in this Article 7 would Section 5 may cause irreparable injury to the Company. The Executive understands that the foregoing restrictions may limit the Executive’s ability to engage in certain businesses anywhere in or involving the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, Restricted Area during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Restricted Period, but acknowledges that the Executive will shall receive Confidential Information and trade secrets, as well as sufficiently high remuneration and other benefits from as an employee of the Company to justify such restrictionrestrictions. Nevertheless, if If any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein herein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, the Company and the Executive intend to make this provision enforceable under the law or laws of all applicable States jurisdictions so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 3 contracts

Samples: Employment Agreement (Tuesday Morning Corp/De), Employment Agreement (Tuesday Morning Corp/De), Employment Agreement (Tuesday Morning Corp/De)

Reformation. Company The Companies and the Executive agree that the foregoing restrictions set forth in Article IV. are reasonable under the circumstances and that any a breach of the covenants contained in this Article 7 would IV. may cause irreparable injury to Companythe Companies. The Executive understands that the foregoing restrictions may limit the Executive’s ability to engage in certain businesses anywhere in or involving the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, Restricted Area during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Restricted Period, but acknowledges that the Executive will shall receive Confidential Information and trade secrets, as well as sufficiently high remuneration and other benefits from Company as an employee of the Companies to justify such restrictionrestrictions. Nevertheless, if If any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties Parties intend for the restrictions therein herein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, Company the Companies and the Executive intend to make this provision enforceable under the law or laws of all applicable States jurisdictions so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 3 contracts

Samples: Employment Agreement (Supreme Industries Inc), Employment Agreement (Supreme Industries Inc), Employment Agreement (Supreme Industries Inc)

Reformation. Company and Executive agree that the foregoing restrictions are reasonable under the circumstances and that any breach of the covenants contained in this Article 7 would cause irreparable injury to Company. Executive understands that the foregoing restrictions may limit Executive’s ability to engage in certain businesses anywhere in the United States States, Canada, or such other geographic areas or markets in which the Company or any of its affiliates are conducting business or have, during the 12 twelve months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Period, but acknowledges that Executive will receive sufficiently high remuneration and other benefits from Company to justify such restriction. Further, Executive acknowledges that his skills are such that he can be gainfully employed in non-competitive employment, and that the agreement not to compete will in no way prevent him from earning a living. Nevertheless, if any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, Company and Executive intend to make this provision enforceable under the law or laws of all applicable States so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 3 contracts

Samples: Employment Agreement (Particle Drilling Technologies Inc/Nv), Employment Agreement (Particle Drilling Technologies Inc/Nv), Employment Agreement (Particle Drilling Technologies Inc/Nv)

Reformation. Company and Executive agree that the foregoing restrictions are reasonable under the circumstances and that any breach of the covenants contained in this Article 7 would cause irreparable injury to Company. Executive understands that the foregoing restrictions may limit Executive’s ability to engage in certain businesses anywhere in the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Period, Period but acknowledges that Executive will receive sufficiently high remuneration and other benefits from Company to justify such restriction. Further, Executive acknowledges that his skills are such that he can be gainfully employed in non-competitive employment and that the agreement not to compete will in no way prevent him from earning a living. Nevertheless, if any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, Company and Executive intend to make this provision enforceable under the law or laws of all applicable States so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 3 contracts

Samples: Employment Agreement (Magnum Hunter Resources Corp), Employment Agreement (Petro Resources Corp), Employment Agreement (Petro Resources Corp)

Reformation. The Company and Executive agree that the foregoing restrictions are reasonable under the circumstances and that any breach of the covenants contained in this Article 7 Section 14 would cause irreparable injury to the Company. Executive expressly represents that enforcement of the restrictive covenants set forth in this Section 14 will not impose an undue hardship upon Executive or any person affiliated with Executive. Executive understands that the foregoing restrictions may limit Executive’s ability to engage in certain businesses anywhere in the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Restricted Period, but acknowledges that Executive will receive sufficiently high remuneration and other benefits from the Company to justify such restriction. Further, Executive acknowledges that Executive’s skills are such that Executive can be gainfully employed in non-competitive employment, and that the agreement not to compete will not prevent Executive from earning a living. Nevertheless, if any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein herein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, the Company and Executive intend to make this provision enforceable under the law or laws of all applicable States jurisdictions so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 3 contracts

Samples: Executive Agreement (Civeo Corp), Executive Agreement (Civeo Corp), Executive Agreement (Civeo Corp)

AutoNDA by SimpleDocs

Reformation. The Company and Executive the Participant agree that the foregoing restrictions set forth in this Exhibit A are reasonable under the circumstances and that any a breach of the covenants contained in this Article 7 would Exhibit A may cause irreparable injury to the Company. Executive The Participant understands that the foregoing restrictions may limit Executivethe Participant’s ability to engage in certain businesses anywhere in or involving the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, Restricted Area during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Restricted Period, but acknowledges that Executive will the Participant shall receive Confidential Information and trade secrets, as well as sufficiently high remuneration and other benefits from as an employee of the Company to justify such restrictionrestrictions. Nevertheless, if If any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties Parties intend for the restrictions therein herein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, the Company and Executive the Participant intend to make this provision enforceable under the law or laws of all applicable States jurisdictions so that the entire agreement not to compete and this Agreement Exhibit A as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 3 contracts

Samples: Restricted Stock Unit Award Agreement (Tuesday Morning Corp/De), Nonqualified Stock Option Award Agreement (Tuesday Morning Corp/De), Nonqualified Stock Option Award Agreement (Tuesday Morning Corp/De)

Reformation. Company The Companies and the Executive agree that the foregoing restrictions set forth in Article IV are reasonable under the circumstances and that any breach of the covenants contained in this Article 7 would IV may cause irreparable injury to Companythe Companies. The Executive understands that the foregoing restrictions may limit the Executive’s ability to engage in certain businesses anywhere in or involving the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, Restricted Area during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Restricted Period, but acknowledges that the Executive will shall receive Confidential Information and trade secrets, as well as sufficiently high remuneration and other benefits from Company as an employee of the Companies to justify such restrictionrestrictions. Nevertheless, if If any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties Parties intend for the restrictions therein herein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, Company the Companies and the Executive intend to make this provision enforceable under the law or laws of all applicable States jurisdictions so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 2 contracts

Samples: Employment Agreement (Nano Vibronix, Inc.), Employment Agreement (Nano Vibronix, Inc.)

Reformation. Company and Executive Employee agree that the foregoing restrictions are reasonable under the circumstances and that any breach of the covenants contained in this Article 7 would cause irreparable injury to Company. Executive Employee understands that the foregoing restrictions may limit ExecutiveEmployee’s ability to engage in certain businesses anywhere in the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, during the 12 months preceding the termination of ExecutiveEmployee’s employment, conducted such business, as applicable, during the Non-Compete Period, but acknowledges that Executive Employee will receive sufficiently high remuneration and other benefits from Company to justify such restriction. Nevertheless, if any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, Company and Executive Employee intend to make this provision enforceable under the law or laws of all applicable States so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive Employee under this Agreement.

Appears in 2 contracts

Samples: Employment Agreement (Concho Resources Inc), Employment Agreement (Concho Resources Inc)

Reformation. Company and Executive agree that the foregoing restrictions are reasonable under the circumstances and that any breach of the covenants contained in this Article 7 VIII would cause irreparable injury to Company. Executive understands that the foregoing restrictions may limit Executive’s ability to engage in certain businesses anywhere in the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Prohibited Period, but acknowledges that Executive will receive sufficiently high remuneration and other benefits from Company to justify such restriction. Further, Executive acknowledges that his skills are such that he can be gainfully employed in non-competitive employment, and that the agreement not to compete will in no way prevent him from earning a living. Nevertheless, if any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein herein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, Company and Executive intend to make this provision enforceable under the law or laws of all applicable States so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 2 contracts

Samples: Employment Agreement (Complete Production Services, Inc.), Employment Agreement (Complete Production Services, Inc.)

Reformation. Company and Executive agree that the foregoing restrictions are reasonable under the circumstances and that any breach of the covenants contained in this Article 7 would cause irreparable injury to Company. Executive understands that the foregoing restrictions may limit Executive’s ability to engage in certain businesses anywhere in the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Solicitation Period, but acknowledges that Executive will receive sufficiently high remuneration and other benefits from Company to justify such restriction. Further, Executive acknowledges that his skills are such that he can be gainfully employed in non-competitive employment, and that the agreement not to solicit will in no way prevent him from earning a living. Nevertheless, if any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, Company and Executive intend to make this provision enforceable under the law or laws of all applicable States so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Superior Well Services, INC)

Reformation. The Company and Executive agree that the foregoing restrictions are reasonable under the circumstances and that any breach of the covenants contained in this Article 7 Section 14 would cause irreparable injury to the Company. Executive expressly represents that enforcement of the restrictive covenants set forth in this Section 14 will not impose an undue hardship upon Executive or any person affiliated with Executive. Executive understands that the foregoing restrictions may limit Executive’s 's ability to engage in certain businesses anywhere in the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Restricted Period, but acknowledges that Executive will receive sufficiently high remuneration and other benefits from the Company to justify such restriction. Further, Executive acknowledges that Executive's skills are such that Executive can be gainfully employed in non-competitive employment, and that the agreement not to compete will not prevent Executive from earning a living. Nevertheless, if any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein herein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, the Company and Executive intend to make this provision enforceable under the law or laws of all applicable States jurisdictions so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 1 contract

Samples: Executive Services Agreement (Civeo Corp)

Reformation. The Company and the Executive agree that the foregoing restrictions set forth in Article IV. are reasonable under the circumstances and that any a breach of the covenants contained in this Article 7 would IV. may cause irreparable injury to the Company. The Executive understands that the foregoing restrictions may limit the Executive’s ability to engage in certain businesses anywhere in or involving the United States or such other geographic areas or markets in which Company or any of its affiliates are conducting business or have, Restricted Area during the 12 months preceding the termination of Executive’s employment, conducted such business, as applicable, during the Non-Compete Restricted Period, but acknowledges that the Executive will shall receive Confidential Information and trade secrets, as well as sufficiently high remuneration and other benefits from as an employee of the Company to justify such restrictionrestrictions. Nevertheless, if If any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties Parties intend for the restrictions therein herein set forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification prospectively at this time, the Company and the Executive intend to make this provision enforceable under the law or laws of all applicable States jurisdictions so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Tuesday Morning Corp/De)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!