Compensation for Restrictive Covenants Clause Samples
POPULAR SAMPLE Copied 2 times
Compensation for Restrictive Covenants. As consideration for Your obligations under this Section 9, and in the event that Your Termination of Employment occurs because of: (A) by the Company (other than for Cause, Your death or Your Total Disability) or (B) by You for Good Reason, You shall be paid an amount equal to the sum of (i) Your Base Salary as of the effective date of Your Termination of Employment and (ii) Your Annual Target Bonus for the year in which Your Termination of Employment occurs (the “Non-Compete Payment”). Subject to Section 19 below, such amount shall be paid in a lump sum as soon as administratively practicable (and within thirty (30) days) after Your Termination of Employment. Provided, however, that you acknowledge that the Restrictive Covenants shall apply even if you do not qualify for the additional consideration provided by this Section 9(e). Any payments to be made by the Company pursuant to this Section 9(e) shall be conditioned upon Your executing and not revoking a general release in favor of the Company, the Board of Directors and their affiliates in a form reasonably acceptable to the Company within thirty (30) days after Your Termination of Employment.
Compensation for Restrictive Covenants. In consideration for the Consultant's agreement to abide by the restrictive covenant provisions contained in Article III of this Agreement during the Consulting Term, the Company shall pay to the Consultant an additional amount equal to Two Hundred Fifty Thousand Dollars ($250,000), payable in twelve (12) equal consecutive monthly installments of Twenty Thousand Eight Hundred Thirty Three Dollars and 33 Cents ($20,833.33) per month, which monthly payments shall commence on the first anniversary of the Commencement Date.
Compensation for Restrictive Covenants. In consideration of Your obligations under this Section 9, upon Your Termination of Employment other than on account of Your death or Total Disability or by the Company for “Cause” or by You for reasons other than “Good Reason,” You shall be paid an amount equal to one million five hundred thousand dollars ($1,500,000) (the “Non-Compete Payment”). Subject to Section 19 below, such amount shall be paid in equal, or as nearly equal as practicable, biweekly installments, starting with the first payroll payment date following Your Termination of Employment other than on account of Your death or Total Disability or by the Company for “Cause” or by You for reasons other than “Good Reason,” and continuing thereafter for the eighteen (18) month restriction period.
Compensation for Restrictive Covenants. In consideration of Your obligations under this Section 9, upon Your Termination of Employment (A) by the Company (other than for Cause, Your death or Your Total Disability) or (B) by You for Good Reason, You shall be paid an amount equal to the sum of (i) Your Base Salary as of the effective date of Your Termination of Employment and (ii) Your Annual Target Bonus for the year in which Your Termination of Employment occurs (the “Non-Compete Payment”). Subject to Section 19 below, such amount shall be paid in a lump sum as soon as administratively practicable (and within thirty (30) days) after Your Termination of Employment.
Compensation for Restrictive Covenants. In consideration of Your obligations under this Section 9, upon Your Termination of Employment other than on account of Your death or Total Disability or by the Company for “Cause” or by You for reasons other than “Good Reason,” You shall be paid an amount equal to one million five hundred thousand dollars ($1,500,000) (the “Non-Compete Payment”). Subject to Section 19 below, such amount shall be paid in a lump sum as soon as administratively practicable (and within thirty (30) days) after Your Termination of Employment.