Common use of NONCOMPETITION PAYMENTS Clause in Contracts

NONCOMPETITION PAYMENTS. Upon termination of Executive's employment with Company for any reason pursuant to this Agreement, Company shall pay to Executive , in addition to amounts otherwise payable herein, (a) a single lump sum payment equal to six (6) months of Base Salary, and (b) twelve (12) monthly installments equal to his monthly Base Salary, as defined in Section 2.1, ("NONCOMPETITION PAYMENTS"), provided that: (i) any payments made to Executive pursuant to Section 5.3 shall be applied against and reduce the NonCompetition Payments payable to Executive under this Section 4.6; and (ii) there shall be no NonCompetition Payments payable for any period in which Executive is in breach of the obligations set forth in Articles 3 and 4 of this Agreement.

NONCOMPETITION PAYMENTS. Upon termination of Executive's employment with Company for any reason pursuant to this Agreement, Company shall pay to Executive , in addition to amounts otherwise payable herein, (a) a single lump sum payment equal to six (6) months of Base Salary, and (b) twelve (12) monthly installments equal to his monthly Base Salary, as defined in Section 2.1, ("NONCOMPETITION PAYMENTSNonCompetition Payments"), provided that: (i) any payments made to Executive pursuant to Section 5.3 shall not be applied against and reduce the NonCompetition Payments payable to Executive under this Section 4.6; and (ii) there shall be no NonCompetition Payments payable for any period in which Executive is in breach of the obligations set forth in Articles 3 and 4 of this Agreement.

NONCOMPETITION PAYMENTS. Upon termination of Executive's employment with Company for any reason pursuant to this Agreement, Company shall pay to Executive , in addition to amounts otherwise payable herein, (a) a single lump sum payment equal to six (6) months of Base Salary, and (b) twelve (12) monthly installments equal to his monthly Base Salary, as defined in Section 2.1, ("NONCOMPETITION PAYMENTSNonCompetition Payments"), provided that: (i) any payments made to Executive pursuant to Section 5.3 shall be applied against and reduce the NonCompetition Payments payable to Executive under this Section 4.6; and (ii) there shall be no NonCompetition Payments payable for any period in which Executive is in breach of the obligations set forth in Articles 3 and 4 of this Agreement.