Lodes

FACTS

Transmodus Corporation (Transmodus) hired William Lodes as its chief revenue officer in July 2020. At the time Lodes was hired, the parties executed an Executive Employment Agreement (Agreement) relating to Lodes’s employment. The Agreement contained an arbitration provision as follows: Section 6 prohibits Lodes from disclosing confidential information concerning Transmodus. Section 7 prohibits Lodes from directly or indirectly competing with Transmodus. Section 9 requires Lodes to return all confidential information as well as other property to Transmodus on termination of employment. Section 10 provides: “[Lodes] and [Transmodus] agree that any breach or evasion of the terms of Sections 6, 7, and 9 of this Agreement will result in immediate and irreparable harm to [Transmodus]. Therefore, in the event of any controversy concerning the rights or obligations of the parties under Sections 6, 7, or 9 of this Agreement, [Transmodus] shall be entitled to obtain an injunction and/or specific performance as well as any other legal or equitable remedy necessary in order to compel compliance with Sections 6, 7 and 9 hereof. Such remedies, however, shall be cumulative and…