Modification of Restrictive Covenants Clause Samples

Modification of Restrictive Covenants. In entering into this Agreement and establishing the foregoing covenants with respect to confidential information, solicitation and competition contained in Paragraphs 4a) and b) above (hereinafter collectively the “Restrictive Covenants”), the parties have attempted and intend to limit the Employee’s right to disclose information only to the extent necessary to protect Employer and each affiliate from unfair competition. The parties recognize, however, that reasonable people may differ in making such a determination. Therefore, the parties hereto agree that if the scope or enforceability of any of the Restrictive Covenants is found, by a court of competent jurisdiction, to be too broad or otherwise unenforceable, such court, in recognition of the intent of the parties as aforesaid, shall modify and enforce such Restrictive Covenants to the extent it believes to be reasonable under the circumstances existing at that time.

Modification of Restrictive Covenants. 21 ARTICLE VIII. FINANCIAL ARRANGEMENTS

Modification of Restrictive Covenants. If any court of competent jurisdiction at any time deems the Restrictive Covenants, or any part hereof, unenforceable because of the duration or geographical scope of such provisions, the other provisions of this Section 10(c) will nevertheless stand and to the full extent consistent with law continue in full force and effect, and it is the intention and desire of the parties that the court treat any provisions of this Agreement which are not fully enforceable as having been modified to the extent deemed necessary by the court to render them reasonable and enforceable, and that the court enforce them to such extent.

Modification of Restrictive Covenants. If any of the Restrictive Covenants, or any part thereof, is held to be invalid or unenforceable, the same shall not affect the reminder of the covenant or covenants, which shall be given full effect, without regard to the invalid or unenforceable portions. Without limiting the generality of the foregoing, if any of the Restrictive Covenants, or any part thereof, is held to be unenforceable because of the duration of such provision or the area covered thereby, the parties hereto agree that the court making such determination shall have the power to reduce the duration and/or area of such provision and, in its reduced form, such provision shall then be enforceable.

Modification of Restrictive Covenants. If, in any judicial proceeding, a court refuses to enforce any of these separate covenants (or any part of a covenant), then the unenforceable covenant (or part) will be eliminated from this Appendix to the extent necessary to permit the remaining separate covenants (or portions) to be enforced. In the event that the provisions of this Appendix are deemed to exceed the time, geographic, or scope limitations permitted by law, then the provisions will be reformed to the maximum time, geographic, or scope limitations permitted by law.

Modification of Restrictive Covenants. ▇▇▇▇▇ is subject to certain restrictive covenant obligations pursuant to Sections 9.1 – 9.9 of the Employment Agreement. The Company and ▇▇▇▇▇ agree to modify such restrictive covenants as follows: (a) The Company agrees to release ▇▇▇▇▇ from, and to waive enforcement of, the non-competition covenant set forth in Section 9.1 of the Employment Agreement so as to allow ▇▇▇▇▇ to accept employment with MainSource and work in the Position; provided, however, this release/waiver is conditional and limited as follows: (i) this release/waiver applies only to Section 9.1 of the Employment Agreement; and (ii) this release/waiver applies only to ▇▇▇▇▇’▇ employment with MainSource, and if during the two (2) years following the Separation Date, ▇▇▇▇▇’▇ employment with MainSource were to terminate or ▇▇▇▇▇ were to become employed with any entity other than MainSource (or its affiliates or successors), this release/waiver would extinguish and ▇▇▇▇▇ would again be subject to the non-competition covenant obligations of Section 9.1 of the Employment Agreement. (b) Sections 9.2, 9.3 and 9.5 are hereby amended such that the two-year post-employment period contemplated in Sections 9.2, 9.3 and 9.5 of the Employment Agreement is extended to a three-year period; accordingly, all of the restrictive covenants set forth in Sections 9.2, 9.3 and 9.5 of the Employment Agreement shall run for a period of three (3) years following the Separation Date.

Modification of Restrictive Covenants. Section E.2 of the ▇▇▇▇▇▇ Ridge Parcel Deed and the ▇▇▇▇▇▇ Ridge Parcel Corrective Deed (“Restrictive Covenants”) are hereby deleted in their entirety and replaced by the following:

Modification of Restrictive Covenants. Section E.2 of the East Anaconda Yards Parcel Deed (“Restrictive Covenants”) is hereby deleted in its entirety insofar as it applies to the ADLC Portion of the East Anaconda Yards Parcel and replaced by the following:

Modification of Restrictive Covenants. Section E.2 of the Drag Strip Parcel Deed (“Restrictive Covenants”) is hereby deleted in its entirety insofar as it applies to the ADLC Portion of the Drag Strip Parcel and replaced by the following: