Common use of Rescission, Forfeiture and Other Remedies Clause in Contracts

Rescission, Forfeiture and Other Remedies. You reaffirm, acknowledge and agree that if the Company determines that you have violated any of the Covenants, the Company may be entitled to injunctive relief and damages, and that: (i) any unvested portion of the RSUs granted to you pursuant this or any prior RSU Agreement shall be immediately rescinded; (ii) you shall automatically forfeit any rights you may have with respect to the RSUs granted to you pursuant to this or any prior RSU Agreement as of the date of such determination; (iii) if any part of the RSUs granted to you pursuant to this or any prior RSU Agreement vests within the twelve-month period immediately preceding a violation of your Non-Competition and Non-Solicitation covenants set forth in the prior RSU Agreements (or following the date of any such violation), upon the Company’s demand, you shall immediately deliver to it a certificate or certificates for shares of the Company’s Common Stock that you acquired upon settlement of such RSUs (or an equivalent number of other shares); and (iv) the foregoing remedies set forth in this Section shall not be the Company’s exclusive remedies. The Company reserves all other rights and remedies available to it at law or in equity.

Appears in 4 contracts

Samples: Restricted Stock Units Agreement (Bristol Myers Squibb Co), Restricted Stock Units Agreement (Bristol Myers Squibb Co), Restricted Stock Units Agreement (Bristol Myers Squibb Co)

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Rescission, Forfeiture and Other Remedies. You reaffirm, acknowledge and agree that if the Company determines that you have violated any of the Covenants, the Company may be entitled to injunctive relief and damages, and that: (i) any unvested portion of the RSUs Performance Share Units granted to you pursuant this or any prior RSU PSU Agreement shall be immediately rescinded; (ii) you shall automatically forfeit any rights you may have with respect to the RSUs Performance Share Units granted to you pursuant to this or any prior RSU PSU Agreement as of the date of such determination; (iii) if any part of the RSUs Performance Share Units granted to you pursuant to this or any prior RSU PSU Agreement vests within the twelve-month period immediately preceding a violation of your Non-Competition and Non-Solicitation covenants set forth in the prior RSU PSU Agreements (or following the date of any such violation), upon the Company’s demand, you shall immediately deliver to it a certificate or certificates for shares of the Company’s Common Stock that you acquired upon settlement of such RSUs Performance Share Units (or an equivalent number of other shares); and (iv) the foregoing remedies set forth in this Section shall not be the Company’s exclusive remedies. The Company reserves all other rights and remedies available to it at law or in equity.

Appears in 1 contract

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co)

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Rescission, Forfeiture and Other Remedies. You reaffirm, acknowledge and agree that if the Company determines that you have violated any of the Covenants, the Company may be entitled to injunctive relief and damages, and that: (i) any unvested portion of the RSUs MSUs granted to you pursuant this or any prior RSU MSU Agreement shall be immediately rescinded; (ii) you shall automatically forfeit any rights you may have with respect to the RSUs MSUs granted to you pursuant to this or any prior RSU MSU Agreement as of the date of such determination; (iii) if any part of the RSUs MSUs granted to you pursuant to this or any prior RSU MSU Agreement vests within the twelve-month period immediately preceding a violation of your Non-Competition and Non-Solicitation covenants set forth in the prior RSU MSU Agreements (or following the date of any such violation), upon the Company’s demand, you shall immediately deliver to it a certificate or certificates for shares of the Company’s Common Stock that you acquired upon settlement of such RSUs MSUs (or an equivalent number of other shares); and (iv) the foregoing remedies set forth in this Section shall not be the Company’s exclusive remedies. The Company reserves all other rights and remedies available to it at law or in equity.

Appears in 1 contract

Samples: Market Share Units Agreement (Bristol Myers Squibb Co)

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