Non-Compete Compensation Sample Clauses

Non-Compete Compensation. As a consideration for the Employee's compliance with the post-contractual Non-Compete and Non-Solicitation Covenants, the Company undertakes to pay to the Employee a monthly gross amount equal to 100% of the monthly salary of the Employee during the period covered by the Non-Compete and Non-Solicitation Covenants mentioned in article 13.1 (the Non-Compete Compensation). The Company is entitled to deduct from the Non-Compete Compensation any income of the Employee from his activities after the end of his employment. Upon request of the Company, and in any event at the end of every calendar quarter, the Employee shall inform the Company of any such income in writing. Should the post-contractual Non-Compete and Non-Solicitation Covenants lapse or not be applicable, the obligation of the Company to pay the Non-Compete Compensation shall lapse. The Company is entitled, at its sole and entire discretion, to waive the post-contractual Non-Compete and Non-Solicitation Covenants by giving three months' written notice to the Employee, effective at the end of a calendar month. In that case, the obligation of the Company to pay the Non-Compete Compensation shall cease as soon as the waiver becomes effective.
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Non-Compete Compensation. The Parties agree that, for the duration of the restricted periods set forth in Paragraph 4(e) of the Agreement, in consideration of and subject to Employee’s continued compliance with the covenants and commitments set forth therein, 50% of each payment described in Section 1 of this Schedule A shall be considered non-compete compensation. For the avoidance of doubt, the non-compete compensation is included in, and is not in addition to, the amount set forth in item 1 of this Schedule A.
Sample 1
Non-Compete Compensation. In addition to Employee's pro-rata portion of the $717,000 non-compete allocated to Employee relative to the purchase, Employee shall be paid $50,000 per year, for 3 years, specifically for non-compete compensation after employee ceases employment with Corporation. Such compensation shall be paid quarterly in arrears and payment is subject to Employee being in compliance with the non-compete terms of this agreement.
Sample 1
Non-Compete Compensation. As consideration for Consultant's obligation under Section 5 of this Agreement, the Company shall pay Consultant the amount of $XXXXXXX (the "Non-Compete Compensation"), which shall be paid in equal bi-weekly installments commencing at the date of this Agreement.
Sample 1

Related to Non-Compete Compensation

  • Severance Compensation In the event (i) Employee terminates this Agreement for Good Reason in accordance with Paragraph 11.3 hereof; (ii) Employee is terminated for any reason (except death or disability) upon, or within six months following, a "Change in Management or Control (as such term is defined in Paragraph 11.5 hereof);" or (iii) Employee is terminated without Cause, the Company shall be obligated to pay severance compensation to Employee in an amount equal to his salary compensation (at the rate payable at the time of such termination) for a period of six (6) months from the date of termination. Notwithstanding the foregoing, if Employee is employed by a new employer, or as a consultant after the termination of this Agreement, the severance compensation payable to Employee hereunder shall be reduced by the amount of compensation that Employee actually receives from the new employer, or as a consultant. However, Employee shall have a duty to inform the Company that he has obtained such new employment, and the failure to do so is a material breach of this Agreement. In such event, the Company shall be entitled to (i) cease all payments to Employee under this Paragraph 11.4; and (ii) recover any unauthorized payments to Employee in an action for breach of contract. Notwithstanding anything else in this Agreement to the contrary, solely in the event of a termination upon or following a Change in Management or Control, the amount of severance compensation paid to Employee hereunder shall not include any amount that the Company is prohibited from deducting for federal income tax purposes by virtue of Section 280G of the Internal Revenue Code of 1986, as amended, or any successor provision. In addition to the foregoing severance compensation, the Company shall pay Employee (i) all compensation for services rendered hereunder and not previously paid; (ii) accrued vacation pay; and (iii) any appropriate business expenses incurred by Employee in connection with his duties hereunder and approved pursuant to Section 4 hereof, all through the date of termination. Employee shall not be entitled to any bonus compensation, whether vested or unvested; or any other compensation, benefits or reimbursement of any kind.

  • Employee Compensation The wages, salaries and other compensation paid to employees who will be employed for the benefit of the Project, and to others who perform special services for the benefit of the Project, to the extent not otherwise paid through a Cash Management System, shall be paid by Owner from a Project Account pursuant to this Section 9.2.

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Base Compensation a. The Company and the Bank agree to pay Executive during the term of this Agreement a base salary at the rate of $ per year, payable in accordance with customary payroll practices.

  • Accrued Compensation On any termination of the Executive’s employment with the Company Group, the Executive will be entitled to receive all accrued but unpaid vacation, expense reimbursements, wages, and other benefits due to the Executive under any Company-provided plans, policies, and arrangements.

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