Common use of Sole Consideration Clause in Contracts

Sole Consideration. Employee and the Company agree and acknowledge that the sole and exclusive consideration for the Incentive Payments is Employee's agreement as described in subparagraph (a) above. In the event that subparagraph (a) is deemed unenforceable or invalid for any reason, then the Company will have no obligation to make Incentive Payments for the period of time during which it has been deemed unenforceable or invalid. The obligations and duties of this Section 20 shall be separate and distinct from the other obligations and duties set forth in this First Amended Agreement, and any finding of invalidity or unenforceability of this Section 20 shall have no effect upon the validity or invalidity of the other provisions of this First Amended Agreement.

Appears in 4 contracts

Samples: Officer Employment Agreement (Callaway Golf Co /Ca), Executive Officer Employment Agreement (Callaway Golf Co /Ca), Executive Officer Employment Agreement (Callaway Golf Co /Ca)

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Sole Consideration. Employee and the Company agree and acknowledge that the sole and exclusive consideration for the Incentive Payments is Employee's agreement as described in subparagraph (a) above. In the event that subparagraph (a) is deemed unenforceable or invalid for any reason, then the Company will have no obligation to make Incentive Payments for the period of time during which it has been deemed unenforceable or invalid. The obligations and duties of this Section 20 shall be separate and distinct from the other obligations and duties set forth in this First Amended Agreement, and any finding of invalidity or unenforceability of this Section 20 shall have no effect upon the validity or invalidity of the other provisions of this First Amended Agreement.

Appears in 2 contracts

Samples: Officer Employment Agreement (Callaway Golf Co /Ca), Executive Officer Employment Agreement (Callaway Golf Co /Ca)

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Sole Consideration. Employee Xx. Xxxxxxx and the Company agree and acknowledge that the sole and exclusive consideration for the Incentive Payments is Employee's Xx. Xxxxxxx'x agreement as described in subparagraph (a) above. In the event that subparagraph (a) is deemed unenforceable or invalid for any reason, then the Company will have no obligation to make Incentive Payments for the period of time during which it has been deemed unenforceable or invalid. The obligations and duties of this Section 20 shall be separate and distinct from the other obligations and duties set forth in this First Second Amended Agreement, and any finding of invalidity or unenforceability of this Section 20 shall have no effect upon the validity or invalidity of the other provisions of this First Second Amended Agreement.

Appears in 1 contract

Samples: Executive Officer Employment Agreement (Callaway Golf Co /Ca)

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