Breach of Noncompetition and Nonsolicitation Provisions. Officer ------------------------------------------------------- acknowledges that the Company's entering into this Agreement and committing to make any payments required hereunder represents consideration for Officer's agreement to abide by the restrictions set forth in Section 8(a). Nothing in this Agreement shall prohibit Officer from engaging in any action or activity prohibited under Section 8(a)(i), (ii) or (iii) above during the term of employment or the Applicable Severance Period (a "Prohibited Activity"); ------------------- provided however that if Officer chooses to engage in a Prohibited Activity, Officer agrees that he or she will forego any payments or benefits to which he or she would otherwise have been entitled hereunder from and following the date of, or the date of commencement of, the Prohibited Activity (such date, the "Prohibited Activity Date") and, to the extent payments and benefits have ------------------------- already been paid to Officer in a lump sum relating to the entire Applicable Severance Period as of the Prohibited Activity Date, Officer agrees to return to the Company the value, in cash, of any such payments or benefits that relate to the period beginning on the Prohibited Activity Date and ending on the termination of the Applicable Severance Period.
Appears in 8 contracts
Samples: Employment Agreement (Vertel Corp), Employment Agreement (Vertel Corp), Employment Agreement (Vertel Corp)
Breach of Noncompetition and Nonsolicitation Provisions. Officer ------------------------------------------------------- acknowledges that the Company's entering into this Agreement and committing to make any payments required hereunder represents consideration for Officer's agreement to abide by the restrictions set forth in Section 8(a). Nothing in this Agreement shall prohibit Officer from engaging in any action or activity prohibited under Section 8(a)(i), (ii) or (iii) above during the term of employment or the Applicable Severance Period (a "Prohibited Activity"); ------------------- provided however that if Officer chooses to engage in a Prohibited Activity, Officer agrees that he or she will forego any payments or benefits to which he or she would otherwise have been entitled hereunder from and following the date of, or the date of commencement of, the Prohibited Activity (such date, the "Prohibited Activity Date") and, to the ------------------------ extent payments and benefits have ------------------------- already been paid to Officer in a lump sum relating to the entire Applicable Severance Period as of the Prohibited Activity Date, Officer agrees to return to the Company the value, in cash, of any such payments or benefits that relate to the period beginning on the Prohibited Activity Date and ending on the termination of the Applicable Severance Period.
Appears in 1 contract
Samples: Employment Agreement (Vertel Corp)
Breach of Noncompetition and Nonsolicitation Provisions. Officer ------------------------------------------------------- acknowledges that the Company's entering into this Agreement and committing to make any payments required hereunder represents consideration for Officer's agreement to abide by the restrictions set forth in Section 8(a). Nothing in this Agreement shall prohibit Officer from engaging in any action or activity prohibited under Section 8(a)(i), (ii) or (iii) above during the term of employment or the Applicable Severance Period (a "Prohibited Activity"); ------------------- provided however that if Officer chooses to engage in a Prohibited Activity, Officer agrees that he or she will forego any payments or benefits to which he or she would otherwise have been entitled hereunder from and following the date of, or the date of commencement of, the Prohibited Activity (such date, the "Prohibited Activity Date") and, to the extent payments and benefits have ------------------------- ------------------------ already been paid to Officer in a lump sum relating to the entire Applicable Severance Period as of the Prohibited Activity Date, Officer agrees to return to the Company the value, in cash, of any such payments or benefits that relate to the period beginning on the Prohibited Activity Date and ending on the termination of the Applicable Severance Period.
Appears in 1 contract
Samples: Employment Agreement (Vertel Corp)
Breach of Noncompetition and Nonsolicitation Provisions. Officer ------------------------------------------------------- acknowledges that the Company's entering into this Agreement and committing to make any payments required hereunder represents consideration for Officer's agreement to abide by the restrictions set forth in Section 8(a). Nothing in this Agreement shall prohibit Officer from engaging in any action or activity prohibited under Section 8(a)(i), (ii) or (iii) above during the term of employment or the Applicable Severance Period (a "Prohibited Activity"); ------------------- provided however that if Officer chooses to engage in a Prohibited Activity, Officer agrees that he or she will forego any payments or benefits to which he or she would otherwise have been entitled hereunder from and following the date of, or the date of commencement of, the Prohibited Activity (such date, the "Prohibited Activity Date") and, to the ------------------------ extent payments and benefits have ------------------------- already been paid to Officer in a lump sum relating to the entire Applicable Severance Period as of the Prohibited Activity Date, Officer agrees to return to the Company the value, in cash, of any such payments or benefits that relate to the period beginning on the Prohibited Activity Date and ending on the termination of the Applicable Severance Period.
Appears in 1 contract
Samples: Employment Agreement (Vertel Corp)