Common use of RELIEF FROM RESTRICTIVE COVENANTS Clause in Contracts

RELIEF FROM RESTRICTIVE COVENANTS. In the event the Executive shall desire to engage in any activity that would violate the Restrictive Covenant which he reasonably and in good faith believes would be immaterial to the economic and proprietary interests of the Employer or any of its affiliates, he may, prior to (but not after) engaging in such activity, submit to the CEO a written request for relief from the Restrictive Covenant, which written request shall set forth the scope of the proposed activity, the scope of the requested relief and the basis upon which Executive believes such activity to be immaterial to the interests of the Employer. Within ten (10) business days after receipt of the Executive's written request, and subject to the specific approval of the Board, the CEO shall advise the Executive, in writing, as to whether the requested relief shall be granted. The parties agree that such relief shall be granted only if the CEO reasonably determines that the reasonably anticipated impact on the Employer of the grant of such relief is in fact immaterial to and fully compatible with the economic and proprietary interests of the Employer (and its separate regions, ventures, divisions, subsidiaries and affiliates), it being specifically hereby understood and acknowledged by the Executive that a purportedly "minor" percentage impact on company-wide revenues or expenses of the Employer shall not be deemed to be per se immaterial.

RELIEF FROM RESTRICTIVE COVENANTS. In the event the Executive CEO shall desire to engage in any activity that would violate the Restrictive Covenant Covenants, but which he reasonably and in good faith believes would be immaterial to the economic and proprietary interests of the Employer Company or any of its affiliates, he may, prior to (but not after) engaging in such activity, submit to the CEO Company a written request for relief from the Restrictive CovenantCovenants, which written request shall set forth the scope of the proposed activity, the scope of the requested relief and the basis upon which Executive CEO believes such activity to be immaterial to the interests of the EmployerCompany. Within ten (10) business days after receipt of the Executive's CEO’s written request, and subject to the specific approval of the Board, the CEO Compensation Committee shall advise the ExecutiveCEO, in writing, as to whether the requested relief shall be granted. The parties agree that such relief shall be granted only if the CEO Compensation Committee reasonably determines that the reasonably anticipated impact on the Employer Company of the grant of such relief is in fact immaterial to and fully compatible with the economic and proprietary interests of the Employer Company (and its separate regions, ventures, divisions, subsidiaries and affiliates), it being specifically hereby understood and acknowledged by the Executive CEO that a purportedly "“minor" ” percentage impact on companyCompany-wide revenues or expenses of the Employer Company shall not be deemed to be per se immaterial.