Remedies for Breach of Restrictive Covenants. The Participant has reviewed the provisions of this Exhibit B with legal counsel, or has been given adequate opportunity to seek such counsel, and the Participant acknowledges and expressly agrees that the covenants contained in this Exhibit B are reasonable with respect to their duration, geographical area and scope. The Participant further acknowledges that the restrictions contained in this Exhibit B are reasonable and necessary for the protection of the legitimate business interests and confidential information of the Company, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Company and such interests, and that such restrictions were a material inducement to the Company to enter into this Participation Agreement. In the event of any violation or threatened violation of the restrictions contained in this Exhibit B, in addition to and not in limitation of, any other rights, remedies or damages available to the Company under this Participation Agreement or otherwise at law or in equity, i. The Company shall be entitled to preliminary and permanent injunctive relief to prevent or restrain any such violation by the Participant and any and all persons directly or indirectly acting for or with the Participant, as the case may be; and ii. The Participant shall forfeit all rights, title and interest in and to any vested and unvested amounts in the Participant’s Company Contribution Account.
Appears in 4 contracts
Samples: Participation Agreement (Heritage Financial Corp /Wa/), Deferred Compensation Plan Participation Agreement (Heritage Financial Corp /Wa/), Deferred Compensation Plan Participation Agreement (Heritage Financial Corp /Wa/)
Remedies for Breach of Restrictive Covenants. The Participant has reviewed the provisions of this Exhibit B with legal counsel, or has been given adequate opportunity to seek such counsel, and the Participant acknowledges and expressly agrees that the covenants contained in this Exhibit B are reasonable with respect to their duration, geographical area and scope. The Participant further acknowledges that the restrictions contained in this Exhibit B are reasonable and necessary for the protection of the legitimate business interests and confidential information Confidential Information of the Company, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Company and such interests, and that such restrictions were a material inducement to the Company to enter into this the Participation Agreement. In the event of any violation or threatened violation of the restrictions contained in this Exhibit B, in addition to and not in limitation of, any other rights, remedies or damages available to the Company under this the Participation Agreement or otherwise at law or in equity,
i. The Company shall be entitled to preliminary and permanent injunctive relief to prevent or restrain any such violation by the Participant and any and all persons directly or indirectly acting for or with the Participant, as the case may be; and
ii. The Participant shall forfeit all rights, title and interest in and to any vested and unvested amounts in the Participant’s Company Contribution Account.
Appears in 3 contracts
Samples: Deferred Compensation Plan Participation Agreement (Heritage Financial Corp /Wa/), Deferred Compensation Plan Participation Agreement (Heritage Financial Corp /Wa/), Deferred Compensation Plan Participation Agreement (Heritage Financial Corp /Wa/)
Remedies for Breach of Restrictive Covenants. The Participant Employee has reviewed the provisions of this Exhibit B Agreement with legal counsel, or has been given adequate opportunity to seek such counsel, and the Participant Employee acknowledges and expressly agrees that the covenants contained in this Exhibit B Section 6 are reasonable with respect to their duration, geographical area and scope. The Participant Employee further acknowledges that the restrictions contained in this Exhibit B Section 6 are reasonable and necessary for the protection of the legitimate business interests and confidential information of the Company, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Company and such interests, that the Company would not have agreed to employ Employee without receiving Employee's agreement to be bound by these restrictions and that such restrictions were a material inducement to the Company to hire Employee and to enter into this Participation Agreement. In the event of any violation or threatened violation of these restrictions, the restrictions contained in this Exhibit BCompany, in addition to and not in limitation of, any other rights, remedies or damages available to the Company under this Participation Agreement or otherwise at law or in equity,
i. The Company , shall be entitled to preliminary and permanent injunctive relief to prevent or restrain any such violation by the Participant Employee and any and all persons directly or indirectly acting for or with the Participanther, as the case may be; and
ii. The Participant shall forfeit all rights, title and interest in and to any vested and unvested amounts in the Participant’s Company Contribution Account.
Appears in 2 contracts
Samples: Change of Control Agreement (Heartland Financial Usa Inc), Change of Control Agreement (Heartland Financial Usa Inc)
Remedies for Breach of Restrictive Covenants. The Participant has reviewed the provisions of this Exhibit B with legal counsel, or has been given adequate opportunity to seek such counsel, and the Participant acknowledges and expressly agrees that the covenants contained in this Exhibit B are reasonable with respect to their duration, geographical area and scope. The Participant further acknowledges that the restrictions contained in this Exhibit B are reasonable and necessary for the protection of the legitimate business interests and confidential information Confidential Information of the Company, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Company and such interests, and that such restrictions were a material inducement to the Company to enter into this the Participation Agreement. In the event of any violation or threatened violation of the restrictions contained in this Exhibit B, in addition to and not in limitation of, any other rights, remedies or damages available to the Company under this the Participation Agreement or otherwise at law or in equity,
i. (i) The Company shall be entitled to preliminary and permanent injunctive relief to prevent or restrain any such violation by the Participant and any and all persons directly or indirectly acting for or with the Participant, as the case may be; and
(ii. ) The Participant shall forfeit all rights, title and interest in and to any vested and unvested amounts in the Participant’s Company Contribution Account.
Appears in 1 contract
Samples: Deferred Compensation Plan Participation Agreement (Heritage Financial Corp /Wa/)
Remedies for Breach of Restrictive Covenants. The Participant Employee has reviewed the provisions of this Exhibit B Agreement with legal counsel, or has been given adequate opportunity to seek such counsel, and the Participant Employee acknowledges and expressly agrees that the covenants contained in this Exhibit B Section 6 are reasonable with respect to their duration, geographical area and scope. The Participant Employee further acknowledges that the restrictions contained in this Exhibit B are Section 6are reasonable and necessary for the protection of the legitimate business interests and confidential information of the Company, that they create no undue hardships, that any violation of these restrictions would cause substantial injury to the Company and such interests, that the Company would not have agreed to employ Employee without receiving Employee’s agreement to be bound by these restrictions and that such restrictions were a material inducement to the Company to hire Employee and to enter into this Participation Agreement. In the event of any violation or threatened violation of these restrictions, the restrictions contained in this Exhibit BCompany, in addition to and not in limitation of, any other rights, remedies or damages available to the Company under this Participation Agreement or otherwise at law or in equity,
i. The Company , shall be entitled to preliminary and permanent injunctive relief to prevent or restrain any such violation by the Participant Employee and any and all persons directly or indirectly acting for or with the Participanther, as the case may be; and
ii. The Participant shall forfeit all rights, title and interest in and to any vested and unvested amounts in the Participant’s Company Contribution Account.
Appears in 1 contract
Samples: Change of Control Agreement (Heartland Financial Usa Inc)