Nautilus 2004 Annual Report Download - page 82

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12. Injunctive Relief .
Employee acknowledges that violation of any of the four immediately preceding sections of this Agreement could cause employer harm which
is irreparable or extremely difficult to quantify, and employee therefore agrees that for any of the four immediately preceding sections of this
Agreement, in addition to any other rights or remedies available under this Agreement, employer shall be entitled to immediate temporary
restraining orders and/or preliminary or permanent injunctions to be issued by any court of competent jurisdiction, enjoining and restraining
employee from committing any violation of any of the four immediately preceding sections of this Agreement, and employee consents to the
issuance of such immediate temporary restraining orders without advance notice or hearing upon such terms as are required by any court, and
to the entry of preliminary or permanent injunctions after notice and hearing and entry of appropriate findings of a violation by employee or
that a violation is likely unless injunctive relief is granted.
13. Termination by Employee .
If employer shall cease conducting its business or take any action looking toward its dissolution or liquidation (except as part of a business
transaction such as a merger or consolidation with another company or group of companies which will acquire and operate the employer’s
business), or if employer shall make an assignment for the benefit of its creditors or admit an inability to pay its debts as they become due or
file a voluntary petition in bankruptcy or become a subject of an involuntary petition in bankruptcy not dismissed within sixty days, or if
employer shall become the subject of any other insolvency proceeding, then employee may immediately terminate employment by written
notice delivered to employer’s President. Under such circumstances, employer agrees that the provisions of Sections 8, 9, 10, 11 and 12 shall
also terminate. Under all other circumstances, employee shall be obligated to provide not less than ninety (90) days advance written notice of
termination of employment, and the provisions of Sections 8, 9, 10, 11 and 12 shall survive employee’s termination of employment.
14. Binding Effect .
This Agreement shall be binding upon and shall inure to the benefit of any successor or successors of employer and on the personal
representative of employee.
15. Governing Law .
It is agreed that this Agreement shall be governed by, construed and enforced in accordance with the laws of the State of Washington.
16. The Entire Agreement .
This Agreement constitutes the entire employment contract between the parties. Any inconsistent prior understanding or representation of any
kind preceding the date of this Agreement shall not be binding upon either party. This Agreement shall not supersede or replace consistent
agreements, such as bonus or stock option agreements, between employer and employee.
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