Common use of Compensation for Non-Competition and Non-Solicitation Clause in Contracts

Compensation for Non-Competition and Non-Solicitation. (a) Fifty percent (50%) of the value of the Severance Benefits is deemed to be paid as compensation for the Executive’s performance of the obligations set forth in this Section 8. (b) If the Executive does not receive the Severance Benefits (either because the Executive has not executed the Release or the Agreement is terminated for reasons under which the Executive is not entitled to receive the Severance Benefits), the Company will pay to the Executive fifty percent (50%) of his then current base salary for the duration of the Executive’s obligations set forth in this Section 8 in consideration of the Executive’s performance of his obligations under this Section 8. In the event of a breach by the Executive of the obligations set forth in this Section 8, the obligation of the Company to pay compensation under this Section 8.3(b) will be terminated with immediate effect. During an infringement of the non-competition or non-solicitation obligation, the obligation of the Company to pay compensation due under this Section 8.3(b) for desisting from competing and soliciting will be cancelled, and the Executive is obliged to pay back the corresponding part of the compensation already paid to the Executive pursuant to this Section 8.3(b). The Company may at any time before, at or after termination of this Agreement, waive the non-competition and the non-solicitation obligations of this Section 8 by written notice to the Executive, which will release the Company from its obligation to pay compensation according to this Section 8.3(b) after the expiration of six months after receipt of such notice. If the Company is entitled to terminate this Agreement for Cause, it may waive the non-competition and the non-solicitation obligations even after having given notice of termination, if such notice is received by the Executive no later than one month after receipt of the notice of termination. In that event, the obligation to pay compensation pursuant to this Section 8.3(b) will expire with immediate effect, and the Executive will be obliged to pay back the portion of the compensation already paid to the Executive for the period after the termination of the non-compete and non-solicitation obligation. (c) Except as otherwise provided herein Sect. 74 et seq. of the German Commercial Code (“HGB”) will apply accordingly.

Compensation for Non-Competition and Non-Solicitation. (a) Fifty percent (50%) of the value of the Severance Benefits is deemed to be paid as compensation for the Executive’s performance of the obligations set forth in this Section 8. (b) . If the Executive does not receive the Severance Benefits (either because the Executive has not executed the Release or the Agreement is terminated for reasons under which the Executive is not entitled to receive the Severance Benefits), the Company will pay to the Executive fifty percent (50%) of his then current base salary for the duration of the Executive’s obligations set forth in this Section 8 in consideration of the Executive’s performance of his obligations under this Section 8. . (b) In the event of a breach by the Executive of the obligations set forth in this Section 8, the obligation of the Company to pay compensation under this Section 8.3(b) 8.3 will be terminated with immediate effect. During an infringement of the non-competition or non-solicitation obligation, the obligation of the Company to pay compensation due under this Section 8.3(b) 8.3 for desisting from competing and soliciting will be cancelled, and the Executive is obliged to pay back the corresponding part of the compensation already paid to the Executive pursuant to this Section 8.3(b). 8.3. (c) The Company may at any time before, at or after termination of this Agreement, waive the non-competition and the non-solicitation obligations of this Section 8 by written notice to the Executive, which will release the Company from its obligation to pay compensation according to this Section 8.3(b) 8.3 after the expiration of six months after receipt of such notice. . (d) If the Company is entitled to terminate this Agreement for Cause, it may waive the non-competition and the non-solicitation obligations even after having given notice of termination, if such notice is received by the Executive no later than one month after receipt of the notice of termination. In that event, the obligation to pay compensation pursuant to this Section 8.3(b) 8.3 will expire with immediate effect, and the Executive will be obliged to pay back the portion of the compensation already paid to the Executive for the period after the termination of the non-compete and non-solicitation obligation. (ce) Except as otherwise provided herein Sect. 74 et seq. of the German Commercial Code (“HGB”) will apply accordingly.