Common use of Washington State Clause in Contracts

Washington State. If the Participant resides in Washington at the time this Agreement is entered into and is an existing employee, then the Participant agrees that the RSUs provided for in this Award Agreement is the mutually agreed upon, fair and reasonable consideration for the covenant not to compete contained in the Retirement Rule and the Non-Solicitation Conditions in Section 7. This consideration shall supplement and not replace or eliminate the value and sufficiency of any additional consideration provided for in the Agreement. The Participant stipulates that the above-referenced consideration is sufficient to make this Agreement fully binding and enforceable, and agrees not to assert otherwise. If the Participant is an existing employee, the Participant acknowledges that the Participant was given ten (10) business days to consider this Agreement before accepting it. In addition, if Washington law controls, then for so long as Washington law controls, the Agreement will be modified and applied as follows:

Appears in 2 contracts

Samples: Stock Option Agreement (Travelers Companies, Inc.), Restricted Stock Unit Award Agreement (Travelers Companies, Inc.)

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Washington State. If the Participant resides in Washington at the time this Award Agreement is entered into and is an existing employee, then the Participant agrees that the RSUs provided for in this Award Agreement is the mutually agreed upon, fair and reasonable consideration for the covenant not to compete contained in the Retirement Rule and the Non-Solicitation Conditions in Section 7. This consideration shall supplement and not replace or eliminate the value and sufficiency of any additional consideration provided for in the Award Agreement. The Participant stipulates that the above-referenced consideration is sufficient to make this Award Agreement fully binding and enforceable, and agrees not to assert otherwise. If the Participant is an existing employee, the Participant acknowledges that the Participant was given ten (10) business days to consider this Award Agreement before accepting it. In addition, if Washington law controls, then for so long as Washington law controls, the Award Agreement will be modified and applied as follows:

Appears in 2 contracts

Samples: Stock Option Agreement (Travelers Companies, Inc.), Restricted Stock Unit Award Agreement (Travelers Companies, Inc.)

Washington State. If the Participant resides in Washington at the time this Award Agreement is entered into and is an existing employee, then the Participant agrees that the RSUs performance shares award provided for in this Award Agreement is the mutually agreed upon, fair and reasonable consideration for the covenant not to compete contained in the Retirement Rule and the Non-Solicitation Conditions in Section 79. This consideration shall supplement and not replace or eliminate the value and sufficiency of any additional consideration provided for in the Award Agreement. The Participant stipulates that the above-referenced consideration is sufficient to make this Award Agreement fully binding and enforceable, and agrees not to assert otherwise. If the Participant is an existing employee, the Participant acknowledges that the Participant was given ten (10) business days to consider this Award Agreement before accepting it. In addition, if Washington law controls, then for so long as Washington law controls, the Award Agreement will be modified and applied as follows:

Appears in 1 contract

Samples: Performance Shares Award Agreement (Travelers Companies, Inc.)

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Washington State. If the Participant resides in Washington at the time this Agreement is entered into and is an existing employee, then the Participant agrees that the RSUs performance shares award provided for in this Award Agreement is the mutually agreed upon, fair and reasonable consideration for the covenant not to compete contained in the Retirement Rule and the Non-Solicitation Conditions in Section 79. This consideration shall supplement and not replace or eliminate the value and sufficiency of any additional consideration provided for in the Agreement. The Participant stipulates that the above-referenced consideration is sufficient to make this Agreement fully binding and enforceable, and agrees not to assert otherwise. If the Participant is an existing employee, the Participant acknowledges that the Participant was given ten (10) business days to consider this Agreement before accepting it. In addition, if Washington law controls, then for so long as Washington law controls, the Agreement will be modified and applied as follows:

Appears in 1 contract

Samples: Performance Shares Award Agreement (Travelers Companies, Inc.)

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