Consideration for Covenant Not to Compete. In consideration of the Executive's covenant set forth in Section 2 hereof, the Company shall pay to the Executive in a lump sum in cash within 30 days after the commencement of the Non-Competition Period an amount equal to the product of (i) two and (ii) the sum of (x) the Executive's Annual Base Salary at the time of a Change of Control and (y)
Consideration for Covenant Not to Compete. Employee acknowledges that one of the effects of this Amendment is to make a post-employment covenant not to compete a part of the Severance Agreement. Employee acknowledges and agrees that such covenant not to compete is supported by adequate consideration, including, but not limited to, the Company’s agreement to provide enhanced benefits pursuant to the amended Section 2(b) of the Severance Agreement. The Company would not have agreed to amend Section 2(b) of the Severance Agreement but for Employee’s agreement to the restrictions imposed by new Section 7 of the Severance Agreement.
Consideration for Covenant Not to Compete. The sole consideration ----------------------------------------- for the faithful performance of the obligations specified in Section 4 hereof by Stockholder 1 and XXX shall be the consideration received by Stockholder 1 under the Agreement.
Consideration for Covenant Not to Compete. In consideration of the Executive's covenants and agreements contained in Section 7(c) hereof, the Company shall pay to Executive an aggregate of $500,000, payable in equal installments of $250,000, in cash, on each of the first and second anniversaries of the Effective Date.
Consideration for Covenant Not to Compete. As consideration ----------------------------------------- for the covenant not to compete contained in this Section 10, on the Closing Date PAGI shall pay the Principals the aggregate amount of $2 million (the "Non- Competition Consideration"), which shall be allocated among the Principals in accordance with the following percentages: Principal Percentage --------- ---------- X. Xxxxxx 35% X. Xxxxxx 30% X'Xxxx 35% In the event that one or more of the aforementioned Principals is not employed by BPN on the Closing Date, the Non-Compensation Consideration consisting of $2 million shall be divided among the remaining Principals consistent with the above table. For example, in the event that (a) X. Xxxxxx is no longer employed by BPN, X. Xxxxxx and X'Xxxx shall each receive fifty percent (50%) of the Non- Compensation Consideration, or (b) X'Xxxx is no longer employed by BPN, X. Xxxxxx shall receive 53.85 percent of the Non-Competition Consideration and X. Xxxxxx shall receive 46.15 percent of the Non-Competition Consideration.
Consideration for Covenant Not to Compete. The sole consideration for Xxxxxxxx' faithful performance of his obligations set forth in this Agreement is the willingness of New Apio and Landec to consummate the Acquisition.
Consideration for Covenant Not to Compete. In consideration for the xxxxx xx xhe Covenant Not To Compete contained in this Agreement, upon the execution of this Agreement, the Company shall pay to Employee the sum of $750,000, by certified or cashier's check payable to the order of Employee or by wire transfer of funds in accordance with instructions given by Employee.
Consideration for Covenant Not to Compete. The sole consideration for ----------------------------------------- the faithful performance of the obligations specified in Section 3 hereof by each of the Shareholders shall be the consideration received by them under the Agreement for the sale and transfer of their respective Shares.
Consideration for Covenant Not to Compete. The sole consideration ----------------------------------------- for the faithful performance of the obligations specified in Section 4 hereof by Harkins, MCBA and XXX shall be the consideration received by Harkins under the Agreement.
Consideration for Covenant Not to Compete. The sole consideration for ----------------------------------------- the faithful performance of the obligations specified in Section 4 hereof by each of the Hardware Parties shall be the consideration received by Hardware under the Agreement.
