Common use of Remedies for Breach of Restrictive Covenant Clause in Contracts

Remedies for Breach of Restrictive Covenant. The Executive acknowledges that the restrictions contained in Sections 4 and 5 of this Agreement are reasonable and necessary for the protection of the legitimate proprietary business interests of the Employer; that any violation of these restrictions would cause substantial injury to the Employer and such interests; that the Employer would not have entered into this Agreement with the Executive without receiving the additional consideration offered by the Executive in binding himself to these restrictions; and that such restrictions were a material inducement to the Employer to enter into this Agreement. In the event of any violation of these restrictions or statement of intent by the Executive to violate any of these restrictions, the Employer shall automatically be relieved of any and all further financial and other obligations to the Executive under this Agreement, in relation to Severance Payments or otherwise, and shall be entitled to all rights, remedies or damages available at law, in equity or otherwise under this Agreement; and, without limitation, shall be entitled to temporary and preliminary injunctive relief, granted by a court of competent jurisdiction, to prevent or restrain any such violation by the Executive and any and all persons directly or indirectly acting for or with him, as the case may be, such injunctive relief to be available pending the outcome of the arbitration process provided under Section 9(d) of this Agreement, which arbitration process will entitle the arbitrator to determine that permanent injunctive relief is to be granted to the Employer, whereupon such relief shall be granted by a court of competent jurisdiction, based on the determination of the arbitrator.

Remedies for Breach of Restrictive Covenant. The Executive acknowledges that the restrictions contained in Sections 4 5 and 5 6 of this Agreement are reasonable and necessary for the protection of the legitimate proprietary business interests of the Employer; that any violation of these restrictions would cause substantial injury to the Employer and such interests; that the Employer would not have entered into this Agreement with the Executive without receiving the additional consideration offered by the Executive in binding himself to these restrictions; and that such restrictions were a material inducement to the Employer to enter into this Agreement. In the event of any violation of these restrictions or statement of intent by the Executive to violate any of these restrictions, the Employer shall automatically be relieved of any and all further financial and other obligations to the Executive under this Agreement, in relation to Severance Payments or otherwise, and shall be entitled to all rights, remedies or damages available at law, in equity or otherwise under this Agreement; and, without limitation, shall be entitled to temporary and preliminary injunctive relief, granted by a court of competent jurisdiction, to prevent or restrain any such violation by the Executive and any and all persons directly or indirectly acting for or with him, as the case may be, such injunctive relief to be available pending the outcome of the arbitration process provided under Section 9(d10(d) of this Agreement, which arbitration process will entitle the arbitrator to determine that permanent injunctive relief is to be granted to the Employer, whereupon such relief shall be granted by a court of competent jurisdiction, based on the determination of the arbitrator.

Remedies for Breach of Restrictive Covenant. The Executive acknowledges that the restrictions contained in Sections 4 Section 6 and 5 Section 8 of this Agreement are reasonable and necessary for the protection of the legitimate proprietary business interests of the EmployerCompany; that any violation of these restrictions would cause substantial injury to the Employer Company and such interests; that the Employer Company would not have entered into the Employment Agreement or this Agreement with the Executive without receiving the additional consideration offered by the Executive in binding himself to these restrictions; and that such restrictions were are a material inducement to the Employer Company to enter into this Agreement. In the event of any violation of these restrictions or statement of intent by the Executive to violate any of these restrictions, the Employer Company shall automatically be relieved of any and all further financial and other obligations to the Executive under this Agreement, in relation to the payment of a Severance Payments Benefits or otherwise, and shall be entitled to all rights, remedies or damages available at law, in equity or otherwise under this Agreement; and, without limitation, shall be entitled to temporary and preliminary injunctive relief, granted by a court of competent jurisdiction, to prevent or restrain any such violation by the Executive and any and all persons directly or indirectly acting for or with him, as the case may be, such injunctive relief to be available pending the outcome of the arbitration process provided under Section 9(d) 16 of this Agreement, which arbitration process will entitle the arbitrator to determine that permanent injunctive relief is to be granted to the EmployerCompany, whereupon such relief shall be granted by a court of competent jurisdiction, based on the determination of the arbitrator.

Remedies for Breach of Restrictive Covenant. The Executive CEO acknowledges that the restrictions contained in Sections 4 5 and 5 6 of this Agreement are reasonable and necessary for the protection of the legitimate proprietary business interests of the EmployerCompany; that any violation of these restrictions would cause substantial injury to the Employer Company and such interests; that the Employer Company would not have entered into this Agreement with the Executive CEO without receiving the additional consideration offered by the Executive CEO in binding himself to these restrictions; and that such restrictions were a material inducement to the Employer Company to enter into this Agreement. In the event of any violation of these restrictions or statement of intent by the Executive CEO to violate any of these restrictions, the Employer Company shall automatically be relieved of any and all further financial and other obligations to the Executive CEO under this Agreement, in relation to the payment of a Severance Payments Amount or otherwise, and shall be entitled to all rights, remedies or damages available at law, in equity or otherwise under this Agreement; and, without limitation, shall be entitled to temporary and preliminary injunctive relief, granted by a court of competent jurisdiction, to prevent or restrain any such violation by the Executive CEO and any and all persons directly or indirectly acting for or with him, as the case may be, such injunctive relief to be available pending the outcome of the arbitration process provided under Section 9(d) 10.4 of this Agreement, which arbitration process will entitle the arbitrator to determine that permanent injunctive relief is to be granted to the EmployerCompany, whereupon such relief shall be granted by a court of competent jurisdiction, based on the determination of the arbitrator.

Remedies for Breach of Restrictive Covenant. The Executive acknowledges that the restrictions contained in Sections 4 Section 6 and 5 Section 7 of this Agreement are reasonable and necessary for the protection of the legitimate proprietary business interests of the EmployerCompany; that any violation of these restrictions would cause substantial injury to the Employer Company and such interests; that the Employer Company would not have entered into the Employment Agreement or this Agreement with the Executive without receiving the additional consideration offered by the Executive in binding himself to these restrictions; and that such restrictions were are a material inducement to the Employer Company to enter into this Agreement. In the event of any violation of these restrictions or statement of intent by the Executive to violate any of these restrictions, the Employer Company shall automatically be relieved of any and all further financial and other obligations to the Executive under this Agreement, in relation to the payment of a Severance Payments Benefits or otherwise, and shall be entitled to all rights, remedies or damages available at law, in equity or otherwise under this Agreement; and, without limitation, shall be entitled to temporary and preliminary injunctive relief, granted by a court of competent jurisdiction, to prevent or restrain any such violation by the Executive and any and all persons directly or indirectly acting for or with him, as the case may be, such injunctive relief to be available pending the outcome of the arbitration process provided under Section 9(d) 15 of this Agreement, which arbitration process will entitle the arbitrator to determine that permanent injunctive relief is to be granted to the EmployerCompany, whereupon such relief shall be granted by a court of competent jurisdiction, based on the determination of the arbitrator.