Non-Competition Payment. As consideration for the covenants of Employee in section 9 for the period of the initial term of this Agreement, Employer shall pay to Employee within five (5) business days of the consummation of Employer's initial public offering ("IPO"), the sum of THREE HUNDRED THOUSAND DOLLARS ($300,000). The non-vested portions of this payment shall be subject to forfeiture if Employee voluntarily terminates this Agreement prior to the expiration of the initial term. One-third of the payment will vest on the effectiveness of the term of this Agreement. The remaining one-third portions of the payment will vest on the first and second anniversaries of the effectiveness of this Agreement, respectively.
Non-Competition Payment. (i) Contingent upon his execution of this Agreement and strict compliance with the restrictive covenants set forth herein, Nucor will pay Executive $159,824.00 each month (the “Monthly Non-Compete Payments”, and together with the Monthly Severance Plan Payments, collectively, the “Monthly Separation Payments”) for 24 months following the Effective Date. Subject to the provisions of Paragraph 3(c) of this Agreement, the payments of the Monthly Non-Compete Payments shall be made each month following the Effective Date. All Monthly Non-Compete Payments shall be subject to regular and customary withholding.
Non-Competition Payment. (i) Contingent upon his execution of this Agreement and strict compliance with the covenants contained herein, Nucor will pay Executive One Hundred Ten Thousand Six Hundred Eighty Four Dollars ($110,684.00) each month (the “Monthly Non-Compete Payments”, and together with the Monthly Severance Plan Payments, collectively, the “Monthly Separation Payments”) for twenty-four (24) months following the Effective Date. Subject to the provisions of Paragraph 3(c) of this Agreement, the payments of the Monthly Non-Compete Payments shall be made each month following the Effective Date. All Monthly Non-Compete Payments shall be subject to regular and customary withholding.
Non-Competition Payment. In consideration of the execution and ----------------------- delivery by the Owner of this Agreement, on the date hereof the Company shall make a cash payment to the Owner in the amount of $10,000.
Non-Competition Payment. In consideration of the execution and delivery by Dr. Xxxxxxx xx this Agreement, on the date hereof the Company shall make a cash payment to Dr. Xxxxxxx xx the amount of $10,000.
Non-Competition Payment. In consideration of Executive’s agreements contained in Section 6, the Company will pay the sum of $400,000 to Executive by wire transfer to Executive’s account, such sum to be payable in full no later than ten (10) days after the date of the Merger Closing. The non-competition payment required hereunder will be subject to, and reduced by, any applicable federal and state withholding taxes.
Non-Competition Payment. Notwithstanding Section 1.3(a) of the Asset Purchase Agreement, the parties hereby agree that, as directed by the Company, the Non-Competition Payment shall be paid, on behalf of the Company and the Operating Subsidiaries, directly to the bank designated by the Company, together with the Creditor Payment.
Non-Competition Payment. As compensation for the covenants made by the Executive under Sections 7(b) through 7(d) of this Agreement, the Company and LMC shall be jointly and severally liable to pay to the Executive on July 31, 2001 the sum of $1,050,000 (the "Non-Competition Payment").
Non-Competition Payment. As additional consideration for Employee's obligation under the Noncompetition, Nondisclosure and Nonsolicitation Agreement referred to in Section 1.03, Employer shall pay to Employee upon the execution of this Agreement One Million Nine Hundred Thousand Dollars ($1,900,000.00). Employer shall make the payments referred to in Sections 2.01(b) and (c) hereof to Employee by wire transfer on even date herewith to an account and pursuant to routing instructions specified in advance in writing by Employee.
Non-Competition Payment. As consideration for the covenants of Employee in section 9 of this Agreement, Employer shall pay to Employee on January 5, 1998, the sum of ONE HUNDRED FIFTY THOUSAND DOLLARS ($150,000). The non-vested portions of this payment shall be subject to forfeiture if Employee voluntarily terminates this Agreement prior to the expiration of the initial term. One-third of the payment will vest on the effectiveness of the term of this Agreement. The remaining one-third portions of the payment will vest on the first and second anniversaries of the effectiveness of this Agreement, respectively.
