Non Competition Fee. As compensation for the Non-Compensation Period, Consultant shall receive a fee of U.S. $7,000,000 (Seven Million dollars) per annum (the “Non-Competition Fee) for each year of the Non-Competition Period (i.e., for five years). The Non-Competition Fee shall be payable starting the Effective Date. The Non-Competition Fee shall be paid to the Consultant no less frequently than on a monthly basis for sixty months which monthly amount, for the avoidance of doubt, will be equal to the annual Consulting Fee divided by twelve (12). Consultant shall be responsible for, and shall pay, any and all taxes on such sums.
Appears in 6 contracts
Samples: Non Competition, Non Solicitation and Confidentiality Agreement, Non Competition, Non Solicitation and Confidentiality Agreement, Non Competition, Non Solicitation and Confidentiality Agreement (Energy Transfer Equity, L.P.)
