Common use of Restrictive Covenants Agreement Clause in Contracts

Restrictive Covenants Agreement. As a condition of employment, and in exchange for the benefits set forth in this Agreement, to which the Executive was not previously entitled, the Executive is required to enter into the Amendment to the Employee Confidentiality, Assignment and Nonsolicitation Agreement attached hereto as Exhibit B, which adds a post-employment noncompetition agreement to the Employee Confidentiality, Assignment and Nonsolicitation Agreement between the Executive and the Company dated as of September 21, 2021 (as amended, the “Restrictive Covenants Agreement”). For purposes of this Agreement, the obligations in this Section 8 and those that arise in the Restrictive Covenants Agreement and any other agreement relating to confidentiality, assignment of inventions, or other restrictive covenants shall collectively be referred to as the “Continuing Obligations.” For the avoidance of doubt, all restrictive covenants obligations are supplemental to one another, and in the event of any conflict between restrictive covenants obligations, the most restrictive provision that is enforceable shall govern. In the event the Executive is entitled to both payments pursuant to the Restrictive Covenants Agreement and severance payments pursuant to Section 5 or Section 6 of this Agreement, then the severance payments pursuant to Section 5 or Section 6 of this Agreement received in any calendar year will be reduced by the amount the Executive is paid in the same such calendar year pursuant to the Restrictive Covenants Agreement.

Appears in 3 contracts

Samples: Employment Agreement (Prime Medicine, Inc.), Employment Agreement (Prime Medicine, Inc.), Employment Agreement (Prime Medicine, Inc.)

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Restrictive Covenants Agreement. As a condition of employment, and in exchange for the benefits set forth in this Agreement, to which the Executive was not previously entitled, the Executive is required to enter into the Amendment to the Employee Confidentiality, Assignment Assignment, Nonsolicitation and Nonsolicitation Noncompetition Agreement attached hereto as Exhibit B, which adds a amends the post-employment noncompetition agreement to provision in the Employee Confidentiality, Assignment Assignment, Nonsolicitation and Nonsolicitation Noncompetition Agreement between the Executive and the Company dated as of September 21December 8, 2021 2020 (as amended, the “Restrictive Covenants Agreement”). For purposes of this Agreement, the obligations in this Section 8 and those that arise in the Restrictive Covenants Agreement and any other agreement relating to confidentiality, assignment of inventions, or other restrictive covenants shall collectively be referred to as the “Continuing Obligations.” For the avoidance of doubt, all restrictive covenants obligations are supplemental to one another, and in the event of any conflict between restrictive covenants obligations, the most restrictive provision that is enforceable shall govern. In the event the Executive is entitled to both payments pursuant to the Restrictive Covenants Agreement and severance payments pursuant to Section 5 or Section 6 of this Agreement, then the severance payments pursuant to Section 5 or Section 6 of this Agreement received in any calendar year will be reduced by the amount the Executive is paid in the same such calendar year pursuant to the Restrictive Covenants Agreement.

Appears in 3 contracts

Samples: Employment Agreement (Prime Medicine, Inc.), Employment Agreement (Prime Medicine, Inc.), Employment Agreement (Prime Medicine, Inc.)

Restrictive Covenants Agreement. As a condition of employment, and in exchange for the benefits set forth in this Agreement, to which the Executive was not previously entitled, the Executive is required to enter into the Amendment to the Employee Confidentiality, Assignment and Nonsolicitation Agreement attached hereto as Exhibit BA, which adds a post-employment noncompetition agreement to the Employee Confidentiality, Assignment and Nonsolicitation Agreement between the Executive and the Company dated as of September 21June 7, 2021 (as amended, the “Restrictive Covenants Agreement”). For purposes of this Agreement, the obligations in this Section 8 and those that arise in the Restrictive Covenants Agreement and any other agreement relating to confidentiality, assignment of inventions, or other restrictive covenants shall collectively be referred to as the “Continuing Obligations.” For the avoidance of doubt, all restrictive covenants obligations are supplemental to one another, and in the event of any conflict between restrictive covenants obligations, the most restrictive provision that is enforceable shall govern. In the event the Executive is entitled to both payments pursuant to the Restrictive Covenants Agreement and severance payments pursuant to Section 5 or Section 6 of this Agreement, then the severance payments pursuant to Section 5 or Section 6 of this Agreement received in any calendar year will be reduced by the amount the Executive is paid in the same such calendar year pursuant to the Restrictive Covenants Agreement.

Appears in 2 contracts

Samples: Employment Agreement (Prime Medicine, Inc.), Employment Agreement (Prime Medicine, Inc.)

Restrictive Covenants Agreement. As a condition of employment, and in exchange for the benefits set forth in this Agreement, to which the Executive was not previously entitled, the Executive is required to enter into the Amendment to the Employee Confidentiality, Assignment and Nonsolicitation Agreement attached hereto as Exhibit BA, which adds a post-employment noncompetition agreement to the Employee Confidentiality, Assignment and Nonsolicitation Agreement between the Executive and the Company dated as of September 216, 2021 2020 (as amended, the “Restrictive Covenants Agreement”). For purposes of this Agreement, the obligations in this Section 8 and those that arise in the Restrictive Covenants Agreement and any other agreement relating to confidentiality, assignment of inventions, or other restrictive covenants shall collectively be referred to as the “Continuing Obligations.” For the avoidance of doubt, all restrictive covenants obligations are supplemental to one another, and in the event of any conflict between restrictive covenants obligations, the most restrictive provision that is enforceable shall govern. In the event the Executive is entitled to both payments pursuant to the Restrictive Covenants Agreement and severance payments pursuant to Section 5 or Section 6 of this Agreement, then the severance payments pursuant to Section 5 or Section 6 of this Agreement received in any calendar year will be reduced by the amount the Executive is paid in the same such calendar year pursuant to the Restrictive Covenants Agreement.

Appears in 2 contracts

Samples: Employment Agreement (Prime Medicine, Inc.), Employment Agreement (Prime Medicine, Inc.)

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Restrictive Covenants Agreement. As a condition of employment, and in exchange for the benefits set forth in this Agreement, to which the Executive was not previously entitled, the Executive is required to enter into the Amendment to the Employee Confidentiality, Assignment and Nonsolicitation Agreement attached hereto as Exhibit BA, which adds a post-employment noncompetition agreement to the Employee Confidentiality, Assignment and Nonsolicitation Agreement between the Executive and the Company dated as entered into in connection with the commencement of September 21, 2021 the Executive’s employment (as amended, the “Restrictive Covenants Agreement”). For purposes of this Agreement, the obligations in this Section 8 and those that arise in the Restrictive Covenants Agreement and any other agreement relating to confidentiality, assignment of inventions, or other restrictive covenants shall collectively be referred to as the “Continuing Obligations.” For the avoidance of doubt, all restrictive covenants obligations are supplemental to one another, and in the event of any conflict between restrictive covenants obligations, the most restrictive provision that is enforceable shall govern. In the event the Executive is entitled to both payments pursuant to the Restrictive Covenants Agreement and severance payments pursuant to Section 5 or Section 6 of this Agreement, then the severance payments pursuant to Section 5 or Section 6 of this Agreement received in any calendar year will be reduced by the amount the Executive is paid in the same such calendar year pursuant to the Restrictive Covenants Agreement.

Appears in 2 contracts

Samples: Employment Agreement (Prime Medicine, Inc.), Employment Agreement (Prime Medicine, Inc.)

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