Common use of VIOLATION OF COVENANT Clause in Contracts

VIOLATION OF COVENANT. The Employee agrees and acknowledges that the services to be rendered by him hereunder are of a special and original character that gives unique value, that the provisions of Paragraph 11 are, in view of the nature of the business of the Company, reasonable and necessary to protect the legitimate interests of the Company, that his violation of any of the covenants or agreements hereof would cause irreparable injury to the Company, that the remedy at law for any violation or threatened violation thereof would be inadequate and that the Company shall be entitled to temporary and permanent injunctive or other equitable relief as it may deem appropriate without the accounting of all earnings, profits, and other benefits arising from any such violation, which rights shall be cumulative and in addition to any rights or remedies available to the Company. The Employee hereby agrees that in the event of any such violation, the Company shall be entitled to commence an action for any such preliminary and permanent injunctive relief and other equitable relief.