Grouped Into 1 Collection of Similar Clauses From Business Contracts
This page contains Restoration clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Restoration. The Executive has been provided and is privy to intellectual property, trade secrets and other confidential information of the Company. For two years following the Executive's termination of employment or other service, the Executive has agreed not to engage in any activity or provide any services which are similar to or competitive with the Company's business. For the same two year period, the Executive also agreed not to solicit or induce, or cause or permit others to solicit or induce, any em...ployee to terminate their employment or other service with the Company. These covenants are set forth and agreed to in the Loyalty and Confidentiality Agreement between the Executive and Company ("Loyalty Agreement"). The parties hereto understand and agree that the promises in this Award Agreement and those in the Loyalty Agreement, and not any employment of or services performed by the Executive in the course and scope of that employment or service, are the sole consideration for the Shares covered by this Award Agreement. Further, it is agreed that should the Executive violate or be in breach of any restrictions set forth herein or in the Loyalty Agreement (which determination shall be made in the discretion of the Committee), (a) the Executive shall immediately return to the Company any Shares, whether or not vested, which were received hereunder, (b) the Executive shall immediately send to the Company at the address below in the form of a check, (i) the proceeds from any Shares received hereunder that were sold to a third party or (ii) the Fair Market Value of any Shares received hereunder which were transferred for no consideration to a third party (e.g., a gift or transfer to a trust), provided that the determination of the Fair Market Value of such Shares shall be made by the Committee as of the date of such violation or breach, and (c) all of the Executive's rights to the Shares shall be revoked and the Executive will have no further rights with respect to the Shares. 6. Restrictions on Transfer. The Executive's right to receive Shares under this Award Agreement may not be sold, assigned, transferred, alienated, commuted, anticipated, or otherwise disposed of (except by will or the laws of descent and distribution), or pledged or hypothecated as collateral for a loan or as security for the performance of any obligation, or be otherwise encumbered, and may not become subject to attachment, garnishment, execution or other legal or equitable process, and any attempt to do so shall be null and void. If the Executive attempts to dispose of or encumber the Executive's right to receive Shares under this Award Agreement before such right becomes vested, then such right shall terminate and be canceled as of the date of such attempted transfer.View More
Restoration. The Executive has been provided and is privy to intellectual property, trade secrets and other confidential information of the Company. Company and its Affiliates. For two years following the Executive's termination of employment or other service, Employment, the Executive has agreed not to engage in any activity or provide any services which are similar to or competitive with the Company's business. business of the Company and its Affiliates. For the same two two- year period, the Executive als...o agreed not to solicit or induce, or cause or permit others to solicit or induce, any employee to terminate their employment or other service with the Company. Company and its Affiliates. These covenants are set forth and agreed to in the Loyalty and Confidentiality Agreement between the Executive and the Company ("Loyalty Agreement"). The parties hereto understand and agree acknowledge that the promises in this Award Agreement and those in the Loyalty Agreement, and not any employment of or services performed by the Executive in the course and scope of that employment or service, are employment, constitute the sole consideration for the Shares covered severance payments and benefits provided by this Award Agreement. Further, it is agreed that should the Executive violate or be in breach of any restrictions set forth herein or in the Loyalty Agreement (which determination shall be made in the discretion of the Compensation Committee), (a) the Executive shall not be entitled to any further severance payments and benefits under this Agreement, (b) the Executive shall immediately return to the Company any Shares, whether or not vested, severance payments and the value of any severance benefits which were received hereunder, (b) the Executive shall immediately send to the Company at the address below in the form of a check, (i) the proceeds from any Shares received hereunder that were sold to a third party or (ii) the Fair Market Value of any Shares received hereunder which were transferred for no consideration to a third party (e.g., a gift or transfer to a trust), provided that the determination of the Fair Market Value of such Shares shall be made by the Committee as of the date of such violation or breach, and (c) all of the Executive's rights to the Shares shall be revoked and the Executive will have no further rights with respect to the Shares. 6. Restrictions on Transfer. The Executive's right to receive Shares or entitlements under this Award Agreement Agreement. This Section 9 shall not in any manner supersede or limit any other right the Company may not be sold, assigned, transferred, alienated, commuted, anticipated, have to enforce or otherwise disposed of (except by will or the laws of descent and distribution), or pledged or hypothecated as collateral for a loan or as security for the performance of any obligation, or be otherwise encumbered, and may not become subject to attachment, garnishment, execution or other seek legal or equitable process, and any attempt to do so shall be null and void. If relief based on this Agreement or the Executive attempts to dispose of or encumber the Executive's right to receive Shares under this Award Agreement before such right becomes vested, then such right shall terminate and be canceled as of the date of such attempted transfer. Loyalty Agreement. View More
