Common use of SURVIVAL AND BREACH Clause in Contracts

SURVIVAL AND BREACH. Both parties recognize that the services to be rendered under this Agreement by the Employee are special, unique and extraordinary in character, and that in the event of a breach or a threatened by Employee of the terms and conditions of the Agreement to be performed by him, then the Company shall be entitled, if it so elects, to institute and prosecute proceedings in any court of competent jurisdiction, either in law or in equity, to obtain damages for any breach of this Agreement, or to enforce the specific performance thereof by the Employee. Without limiting the generality of the foregoing, the parties acknowledge that a breach by the Employee of his obligations under Sections II, III or IV or would cause the Company irreparable harm, that no adequate remedy at law would be available in respect thereof and that therefore the Company would be entitled to injunctive relief with respect thereto. Employee affirms having the opportunity to fully discuss and negotiate the covenants set forth in Sections II, III and IV and acknowledges understanding and acceptance. If any part of this covenant is declared invalid, then Employee agrees to be bound by a covenant as near to the original as lawfully possible. The covenants set forth in Sections II, III, and IV shall survive the term and termination of employment. Employee shall further be liable for all costs of enforcement.