A Standard Clause stating the parties' intention to provide for equitable remedies for breach of contract in addition to, or instead of, monetary relief under New York law. If the parties intend that certain express remedies like liquidated damages constitute the exclusive or sole remedy for a particular breach, the parties can include the alternative exclusive remedy carve-out. This Standard Clause contains both a unilateral and a mutual version and has integrated notes with important explanations and drafting tips.