Mr. Clarkson acknowledges and agrees that great loss and irreparable damage would be suffered by HCSB if he should breach or violate any of the terms or provisions of the covenants and agreements set forth in Section 10 of this Agreement. Mr. Clarkson further acknowledges and agrees that each of these covenants and agreements is reasonably necessary to protect and preserve the interests of HCSB and agrees that money damages for any breach of such provisions by Mr. Clarkson are impossible to measure and that Mr. Clarkson or any of his affiliates, as the case may be, will, to the extent permitted by law, waive in any proceeding initiated to enforce such sections any claim or defense that an adequate remedy at law exists. The existence of any claim, demand, action, or cause of action against HCSB, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement by HCSB of any of the covenants or agreements in this Agreement; provided, however, that nothing in this Agreement shall be deemed to deny Mr. Clarkson the right to defend against this enforcement on the basis that HCSB has no right to its enforcement under the terms of this Agreement. The remedies of a party provided in this Agreement are cumulative and shall not exclude any other remedies to which any party may be lawfully entitled under this Agreement or applicable law, and the exercise of a remedy shall not be deemed an election excluding any other remedy (any such claim by the other party being hereby waived).