Common use of Forfeiture of Future Payments Clause in Contracts

Forfeiture of Future Payments. Notwithstanding the foregoing, ----------------------------- Employee shall forfeit his rights to, and the Company shall be under no obligation to make, any further payments to Employee in respect of Deferred Payments if the Board of Directors determines that there shall have occurred (before or after the Termination Date) a material violation of the terms of Section 2 of the Non-Compete Agreement (such determination to be made only if Employee has failed to cure such violation to the reasonable satisfaction of the Board of Directors within a reasonable period of time after having been given ten (10) business days written notice thereof).

Forfeiture of Future Payments. Notwithstanding the foregoing, ----------------------------- Employee shall forfeit his rights to, and the Company shall be under no obligation to make, any further payments to Employee in respect of Deferred Payments if the Board of Directors determines that there shall have occurred (before or after the Termination Date) a material violation of the terms of Section 2 of the Non-Non- Compete Agreement (such determination to be made only if Employee has failed to cure such violation to the reasonable satisfaction of the Board of Directors within a reasonable period of time after having been given ten (10) business days written notice thereof).