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

Remedies for Breach of Restrictive Covenants. Executive has reviewed the provisions of this Agreement with legal counsel, or has been given adequate opportunity to seek such counsel, and Executive acknowledges and expressly agrees that the covenants contained in this Section 8 are reasonable with respect to their duration, geographical area and scope. Executive further acknowledges that the restrictions contained in this Section 8 are reasonable and necessary for the protection of the legitimate business interests of the Employer, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Employer and such interests, and that such restrictions were a material inducement to the Employer to enter into this Agreement. In the event of any violation or threatened violation of these restrictions, the Employer, in addition to and not in limitation of, any other rights, remedies or damages available to the Employer under this Agreement or otherwise at law or in equity, shall be entitled to preliminary and permanent injunctive relief to prevent or restrain any such violation by Executive and any and all persons directly or indirectly acting for or with her, as the case may be.

Appears in 14 contracts

Samples: Employment Agreement (Midland States Bancorp, Inc.), Employment Agreement (Midland States Bancorp, Inc.), Employment Agreement (Midland States Bancorp, Inc.)

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Remedies for Breach of Restrictive Covenants. Executive has reviewed the provisions of this Agreement with legal counsel, or has been given adequate opportunity to seek such counsel, and Executive acknowledges and expressly agrees that the covenants contained in this Section 8 are reasonable with respect to their duration, geographical area and scope. Executive further acknowledges that the restrictions contained in this Section 8 are reasonable and necessary for the protection of the legitimate business interests of the Employer, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Employer and such interests, and that such restrictions were a material inducement to the Employer to enter into this Agreement. In the event of any violation or threatened violation of these restrictions, the Employer, in addition to and not in limitation of, any other rights, remedies or damages available to the Employer under this Agreement or otherwise at law or in equity, shall be entitled to preliminary and permanent injunctive relief to prevent or restrain any such violation by Executive and any and all persons directly or indirectly acting for or with herExecutive, as the case may be.

Appears in 4 contracts

Samples: Employment Agreement (Midland States Bancorp, Inc.), Employment Agreement (Midland States Bancorp, Inc.), Employment Agreement (Midland States Bancorp, Inc.)

Remedies for Breach of Restrictive Covenants. Executive has reviewed the provisions of this Agreement with legal counsel, or has been given adequate opportunity to seek such counsel, and Executive acknowledges and expressly agrees that the covenants contained in this Section 8 7 are reasonable with respect to their duration, geographical area and scope. Executive further acknowledges that the restrictions contained in this Section 8 7 are reasonable and necessary for the protection of the legitimate business interests of the Employer, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Employer and such interests, and that such restrictions were a material inducement to the Employer to enter into this Agreement. In the event of any violation or threatened violation of these restrictions, the Employer, in addition to and not in limitation of, any other rights, remedies or damages available to the Employer under this Agreement or otherwise at law or in equity, shall be entitled to preliminary and permanent injunctive relief to prevent or restrain any such violation by Executive and any and all persons directly or indirectly acting for or with her, as the case may be.

Appears in 3 contracts

Samples: Employment Agreement (Midland States Bancorp, Inc.), Employment Agreement (Midland States Bancorp, Inc.), Employment  agreement (Midland States Bancorp, Inc.)

Remedies for Breach of Restrictive Covenants. The Executive has reviewed the provisions of this Agreement with legal counsel, or has been given adequate opportunity to seek such counsel, and the Executive acknowledges and expressly agrees that the covenants contained in this Section 8 are reasonable with respect to their duration, geographical area and scope. The Executive further acknowledges that the restrictions contained in this Section 8 are reasonable and necessary for the protection of the legitimate business interests of the EmployerCompany, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Employer Company and such interests, and that such restrictions were a material inducement to the Employer Company to enter into this Agreement. In the event of any violation or threatened violation of these restrictions, the EmployerCompany, in addition to and not in limitation of, any other rights, remedies or damages available to the Employer Company under this Agreement or otherwise at law or in equity, shall be entitled to preliminary and permanent injunctive relief to prevent or restrain any such violation by the Executive and any and all persons directly or indirectly acting for or with her, as the case may be.

Appears in 3 contracts

Samples: Employment Agreement (ISB Financial Corp.), Employment Agreement (ISB Financial Corp.), Employment Agreement (ISB Financial Corp.)

Remedies for Breach of Restrictive Covenants. The Executive has reviewed the provisions of this Agreement with legal counsel, or has been given adequate opportunity to seek such counsel, and the Executive acknowledges and expressly agrees that the covenants contained contains in Sections 7-9 of this Section 8 Agreement are reasonable with respect to their duration, geographical area and scope. The Executive further acknowledges that the restrictions contained in Sections 7-9 of this Section 8 Agreement are reasonable and necessary for the protection of the legitimate business interests of the EmployerBank, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Employer Bank and such interests, and that such restrictions were a material inducement to the Employer Bank to enter into this Agreement. In the event of any violation or threatened violation of these restrictions, the EmployerBank, in addition to and not in limitation of, any other rights, remedies or damages available to the Employer Bank under this Agreement or otherwise at law or in equity, shall be entitled to preliminary and permanent injunctive relief to prevent or restrain any such violation by the Executive and any and all persons person directly or indirectly acting for or with herthe Executive, as the case may be.. ​

Appears in 2 contracts

Samples: Employment Agreement (Old Second Bancorp Inc), Employment Agreement (Old Second Bancorp Inc)

Remedies for Breach of Restrictive Covenants. Executive has reviewed the provisions of this Agreement with legal counsel, or has been given adequate opportunity to seek such counsel, and Executive acknowledges and expressly agrees that the covenants contained in this Section 8 are reasonable with respect to their duration, geographical area and scope. Executive further acknowledges that the restrictions contained in this Section 8 are reasonable and necessary for the protection of the legitimate business interests of the EmployerBank, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Employer Bank and such interests, and that such restrictions were a material inducement to the Employer Bank to enter into this Agreement. In the event of any violation or threatened violation of these restrictions, the EmployerBank, in addition to and not in limitation of, any other rights, remedies or damages available to the Employer Bank under this Agreement or otherwise at law or in equity, shall be entitled to preliminary and permanent injunctive relief to prevent or restrain any such violation by Executive and any and all persons directly or indirectly acting for or with herExecutive, as the case may be.

Appears in 2 contracts

Samples: Employment Agreement (Midland States Bancorp, Inc.), Employment Agreement (Midland States Bancorp, Inc.)

Remedies for Breach of Restrictive Covenants. Executive has reviewed the provisions of this Agreement with legal counsel, or has been given adequate opportunity to seek such counsel, and Executive acknowledges and expressly agrees that the covenants contained in this Section 8 are reasonable with respect to their duration, geographical area and scope. Executive further acknowledges that the restrictions contained in this Section 8 are reasonable and necessary for the protection of the legitimate business interests of the Employer, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Employer and such interests, and that such restrictions were a material inducement to the Employer to enter into this Agreement. In the event of any violation or threatened violation of these restrictions, the Employer, in addition to and not in limitation of, any other rights, remedies or damages available to the Employer under this Agreement or otherwise at law or in equity, shall be entitled to preliminary and permanent injunctive relief to prevent or restrain any such violation by Executive and any and all persons directly or indirectly acting for or with herhim, as the case may be.

Appears in 2 contracts

Samples: Transitional Employment Agreement (Midland States Bancorp, Inc.), Transitional Employment Agreement (Midland States Bancorp, Inc.)

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Remedies for Breach of Restrictive Covenants. Executive has reviewed the provisions of this Agreement with legal counsel, or has been given adequate opportunity to seek such counsel, and Executive acknowledges and expressly agrees that the covenants contained in this Section 8 5 are reasonable with respect to their duration, geographical area and scope. Executive further acknowledges that the restrictions contained in this Section 8 5 are reasonable and necessary for the protection of the legitimate business interests of the Employer, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Employer and such interests, and that such restrictions were a material inducement to the Employer to enter into this Agreement. In the event of any violation or threatened violation of these restrictions, the Employer, in addition to and not in limitation of, any other rights, remedies or damages available to the Employer under this Agreement or otherwise at law or in equity, shall be entitled to terminate any further payments or benefits set forth in Section 3(a)(i)-(iii), preliminary and permanent injunctive relief to prevent or restrain any such violation by Executive and any and all persons directly or indirectly acting for or with her, as the case may be.

Appears in 1 contract

Samples: Change of Control Agreement (Midland States Bancorp, Inc.)

Remedies for Breach of Restrictive Covenants. Executive has reviewed the provisions of this Agreement with legal counsel, or has been given adequate opportunity to seek such counsel, and Executive acknowledges and expressly agrees that the covenants contained in this Section 8 5 are reasonable with respect to their duration, geographical area and scope. Executive further acknowledges that the restrictions contained in this Section 8 5 are reasonable and necessary for the protection of the legitimate business interests of the Employer, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Employer and such interests, and that such restrictions were a material inducement to the Employer to enter into this Agreement. In the event of any violation or threatened violation of these restrictions, the Employer, in addition to and not in limitation of, any other rights, remedies or damages available to the Employer under this Agreement or Exhibit 10.5 otherwise at law or in equity, shall be entitled to terminate any further payments or benefits set forth in Section 3(a)(i)-(iii), preliminary and permanent injunctive relief to prevent or restrain any such violation by Executive and any and all persons directly or indirectly acting for or with her, as the case may be.

Appears in 1 contract

Samples: Change of Control Agreement (Midland States Bancorp, Inc.)

Remedies for Breach of Restrictive Covenants. The Executive has reviewed the provisions of this Agreement with legal counsel, or has been given adequate opportunity to seek such counsel, and the Executive acknowledges and expressly agrees that the covenants contained contains in Sections 7-9 of this Section 8 Agreement are reasonable with respect to their duration, geographical area and scope. The Executive further acknowledges that the restrictions contained in Sections 7-9 of this Section 8 Agreement are reasonable and necessary for the protection of the legitimate business interests of the EmployerBank, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Employer Bank and such interests, and that such restrictions were a material inducement to the Employer Bank to enter into this Agreement. In the event of any violation or threatened violation of these restrictions, the EmployerBank, in addition to and not in limitation of, any other rights, remedies or ​ ‌ Execution Copy damages available to the Employer Bank under this Agreement or otherwise at law or in equity, shall be entitled to preliminary and permanent injunctive relief to prevent or restrain any such violation by the Executive and any and all persons person directly or indirectly acting for or with herthe Executive, as the case may be.

Appears in 1 contract

Samples: Executive Employment Agreement (Old Second Bancorp Inc)

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