Restriction on Interfering with Employee Relationships. During employment with Company, and for two (2) years thereafter, Employee will not, either directly or indirectly, (a) solicit, induce, or encourage any employee of the Company to leave the Company, or (b) help another person or entity to hire away an employee of the Company; unless such activity is expressly authorized by a supervisor of Employee on behalf of the Company. Where required by law, the foregoing restriction will only apply to employees that Employee, worked with, supervised, or help manage, within the last two years of Employee’s employment with Company. The Company’s primary remedy shall be injunctive relief as provided for in Section 5 below. However, the parties recognize that if Company loses an employee due to interference by Employee prior to or in spite of an injunction, it will not be possible to quantify the precise damage that this would cause. Accordingly, in the event Company loses an employee due, in whole or in part, to conduct by Employee that violates this Agreement, then Employee shall pay Company a sum equal to fifty percent (50%) of the lost employee’s annual compensation (based on the lost employee’s last rate of pay with Company) as a reasonable estimate of part of the damages caused by Employee’s breach. This shall not preclude or act as a substitute for any remedy that would otherwise be available, including but not limited to, injunctive relief against further prohibited solicitation or interference with employee relationships.
Appears in 1 contract
Samples: Loyalty and Confidentiality Agreement (Rent a Center Inc De)
Restriction on Interfering with Employee Relationships. During employment with Company, and for two one –and-a-half (21.5) years thereafter, Employee will not, either directly or indirectly, (a) solicit, induce, or encourage any an employee of the Company to leave the Company, or (b) help another person or entity to hire away an employee of the Company; unless such activity is expressly authorized by a supervisor of Employee on behalf of the Company. Where required by law, the foregoing restriction will only apply to employees that Employee, worked with, supervised, or help manage, within the last two years of Employee’s employment with Company. The Company’s primary remedy shall be injunctive relief as provided for in Section 5 below. However, the parties recognize that if Company loses an employee due to interference by Employee prior to or in spite of an injunction, it will not be possible to quantify the precise damage that this would cause. Accordingly, in the event Company loses an employee due, in whole or in part, to conduct by Employee that violates this Agreement, then Employee shall pay Company a sum equal to fifty percent (50%) of the lost employee’s 's annual compensation (based on the lost employee’s last rate of pay with Company) as a reasonable estimate of part of the damages caused by Employee’s breach. This shall not preclude or act as a substitute for any remedy that would otherwise be available, including but not limited to, injunctive relief against further prohibited solicitation or interference with employee relationships.
Appears in 1 contract
Samples: Loyalty and Confidentiality Agreement (Upbound Group, Inc.)
Restriction on Interfering with Employee Relationships. During employment with Company, and for two (2) years thereafter, Employee will not, either directly or indirectly, (a) solicit, induce, or encourage any an employee of the Company to leave the Company, or (b) help another person or entity to hire away an employee of the Company; unless such activity is expressly authorized by a supervisor of Employee on behalf of the Company. Where required by law, the foregoing restriction will only apply to employees that Employee, worked with, supervised, or help manage, within the last two years of Employee’s employment with Company. The Company’s primary remedy shall be injunctive relief as provided for in Section 5 below. However, the parties recognize that if Company loses an employee due to interference by Employee prior to or in spite of an injunction, it will not be possible to quantify the precise damage that this would cause. Accordingly, in the event Company loses an employee due, in whole or in part, to conduct by Employee that Loyalty and Confidentiality Agreement February 2017 violates this Agreement, then Employee shall pay Company a sum equal to fifty percent (50%) of the lost employee’s 's annual compensation (based on the lost employee’s last rate of pay with Company) as a reasonable estimate of part of the damages caused by Employee’s breach. This shall not preclude or act as a substitute for any remedy that would otherwise be available, including but not limited to, injunctive relief against further prohibited solicitation or interference with employee relationships.
Appears in 1 contract
Samples: Loyalty and Confidentiality Agreement (Rent a Center Inc De)
Restriction on Interfering with Employee Relationships. During employment with Company, and for two (2) years thereafter, Employee will not, either directly or indirectly, (a) solicit, induce, or encourage any an employee of the Company to leave the Company, or (b) help another person or entity to hire away an employee of the Company; unless such activity is expressly authorized by a supervisor of Employee on behalf of the Company. Where required by law, the foregoing restriction will only apply to employees that Employee, worked with, supervised, or help manage, within the last two years of Employee’s employment with Company. The Company’s primary remedy shall be injunctive relief as provided for in Section 5 below. However, the parties recognize that if Company loses an employee due to interference by Employee prior to or in spite of an injunction, it will not be possible to quantify the precise damage that this would cause. Accordingly, in the event Company loses an employee due, in whole or in part, to conduct by Employee that violates this Agreement, then Employee shall pay Company a sum equal to fifty percent (50%) of the lost employee’s 's annual compensation (based on the lost employee’s last rate of pay with Company) as a reasonable estimate of part of the damages caused by Employee’s breach. This shall not preclude or act as a substitute for any remedy that would otherwise be available, including but not limited to, injunctive relief against further prohibited solicitation or interference with employee relationships.
Appears in 1 contract
Samples: Loyalty and Confidentiality Agreement (Rent a Center Inc De)