Common use of Discretionary Monthly Non-Compete Payments Clause in Contracts

Discretionary Monthly Non-Compete Payments. The Company may, in its sole discretion, elect to continue on the Company’s regularly scheduled paydays Employee’s Base Salary in effect immediately before the Date of Termination during each month of the Post-Termination Non-Compete Term (the “Monthly Non-Compete Payments”). The Company shall provide written notice to Employee no later than 10 days after the Date of Termination or on or before the Company’s first regularly scheduled payday following the Date of Termination, whichever is sooner, of its election to make any Monthly Non-Compete Payments. If the Company does elect to make the Monthly Non-Compete Payments, the Company shall not be obligated to continue making any such Monthly Non-Compete Payments and shall be entitled in its sole discretion to cease making the Monthly Non-Compete Payments at any time and for any reason but only upon at least 30 days’ written notice to Employee, and the Company shall have no further obligation to Employee under this subparagraph. If the Company starts but ceases making the Monthly Non-Compete Payments, then, notwithstanding any contrary provision in this Agreement, the Post-Termination Non-Compete Term for purpose of subparagraph 15(a) shall expire on the last day of the month in which the final Monthly Non-Compete Payment was made by the Company.