Provision or agreement as to noncompetition by seller. Sellers (the _________ Company and all its directors, officers, executives and shareholders), severally and individually, to protect the goodwill sold and transferred, and as a material inducement to buyer to purchase the property and business, contract and covenant that for the full period of _________ years, from this date, sellers (the _________ Company and all its directors, officers, executives and shareholders) will not engage, either directly or indirectly, as principal or on their own account, either solely or jointly, or jointly with others, or as stockholders in any corporation or joint stock association, in the business of _________, at _________, or any place within a radius of _________ miles, nor for the same period in _________ lend their credit or money for the purpose of establishing or operating any such business, nor furnish quarters, or give advice, either directly or indirectly, to any third person, firm, joint stock association or corporation, engaged or engaging in this business, nor will they during this period ship or cause to be shipped or have any part in shipping to _________ or within _________, for resale or any purpose, any _________. Since it would be difficult and impracticable to calculate and ascertain accurately and definitely the damages buyer would sustain from a breach by seller, of any of the above covenants, the parties assess and fix as liquidated damages for any breach $_____, plus _________ percent of the gross proceeds of all goods dealt in and sold in any manner constituting or related to a violation of these terms, and/or plus _________ percent of the purchase price of all goods dealt in contrary to these terms, otherwise than by sale, during the time the breach continues. In case of a breach seller agrees to pay, and buyer shall be entitled to recover, the liquidated damages from seller, their heirs, executors, administrators, assigns, or successors, but without prejudice to the concurrent or alternative resort to any other appropriate legal remedy by injunction, or otherwise. The above covenants and stipulations shall run in favor of the heirs, successors and assigns of the buyer, provided that in case any of the above restrictions are held to be invalid, they shall be deemed, and it is agreed that they are meant to be severable, and shall not defeat the remaining provisions and covenants.