Common use of Note Installments Clause in Contracts

Note Installments. With respect to the Restricted Stock purchase described in Section 4 below, during the Employment Period (and the period following thereafter that is described in Section 6), any installment that becomes amount due under the promissory note that is executed by Executive pursuant to Section 4 shall be paid by the Corporation to Executive as additional compensation, subject to the conditions of this Section 3(e). The Corporation’s obligation hereunder expires upon a material breach by Executive of the restrictive covenants in Sections 6, 7 or 9, the termination of Executive for Cause (as defined in Section 5(c)), or the resignation of Executive without Good Reason (as defined in Section 5(e)).

Note Installments. With respect to the Restricted Stock purchase described in Section 4 belowherein, during the Employment Period employment period (and the period following thereafter that is described in Section 66 of the Executive’s Employment Agreement), any installment that becomes amount due under the promissory note that is executed by Executive pursuant to Section 4 this Purchase Agreement shall be paid by the Corporation Employer to Executive as additional compensation, subject to the conditions of this Section 3(e). The CorporationEmployer’s obligation hereunder expires upon a material breach by Executive of the restrictive restricted covenants in Sections 6, 7 6,7 or 9, the termination of Executive for Cause (as defined in Section section 5(c)), ) of the Executive’s Employment Agreement or the resignation of Executive without Good Reason (as defined in Section 5(e5(c)).