Severance and Noncompetition Agreements Sample Clauses

Severance and Noncompetition Agreements. 01 Severance and Noncompetition Agreements.01
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Severance and Noncompetition Agreements. At the Closing, Xxxxxx Xxxx, Xx., Xxxxx X. Xxxxxxx, Xxxxxx X. XxXxx, III and Xxxx X. XxXxx shall enter into severance and noncompetition agreements in the form attached hereto as Exhibit 10.01 (the "Severance and Noncompetition Agreements"). Pursuant to the terms of these agreements, the parties thereto shall receive, to the extent not previously received, (i) aggregate cash payments at or prior to Closing of $3,500,000 (the "Severance Payments") and (ii) $8,600,000 to be paid pursuant to the Escrow Agreement (the "Noncompetition Payments") it being agreed by the parties hereto that the sole recourse for any liabilities with respect to the Noncompetition Payments shall be the Security Escrow Agreement. The Severance Payments and Noncompetition Payments shall be allocated and structured in accordance with the Severance and Noncompetition Agreements and the Noncompetition Payments shall be secured by the Security Escrow Amount within the Escrow Agreement. Such amounts paid into the Security Escrow Agreement shall be the sole recourse for any payments required pursuant to the Noncompetition Agreements.
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Severance and Noncompetition Agreements. Prior to the date of this Agreement, the Company shall have caused each of Messrs. Altoxxxx, Xxxxxx xxx Bonhxx xx execute and deliver to the Company severance agreements in a form reasonably acceptable to Parent. At or prior to the Closing, the Company shall cause John Xxxxxxxx xx execute and deliver a noninterference agreement in a form reasonably acceptable to Parent. At or prior to the Closing, the Company shall cause Messrs. Sammxxx xxx McNenny to execute and deliver amended or new agreements providing for specified severance compensation in the event that they are terminated following the Effective Time.
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Severance and Noncompetition Agreements. Each of the individuals listed in Appendix 4 hereto shall have executed a severance and noncompetition agreement in the form of Exhibit F hereto.
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Related to Severance and Noncompetition Agreements

  • Employment and Noncompetition Agreements The Employment and Noncompetition Agreements referred to in Sections 7.1 and 8.3, duly executed by the persons referred to in such Sections.

  • Employment and Non-Competition Agreements The employees of Target set forth on Schedule 5.17 shall have accepted employment with Acquiror and shall have entered into an Employment and Non-Competition Agreement substantially in the form attached hereto as Exhibits H-1, et. seq.

  • Noncompetition Agreements Purchaser shall have executed and delivered to each Seller a Noncompetition Agreement substantially in the form attached hereto as Schedule 6.5(a).

  • Employment; Noncompetition; Nondisclosure The Manager has not been notified that any of its executive officers or key employees named in the General Disclosure Package (each, a “Company-Focused Professional”) plans to terminate his or her employment with the Manager or Colony, as the case may be. Neither the Manager nor, to the knowledge of the Manager, any Company-Focused Professional is subject to any noncompete, nondisclosure, confidentiality, employment, consulting or similar agreement that would be violated by the present or proposed business activities of the Company or the Manager as described in the Registration Statement, the General Disclosure Package and the Prospectus.

  • Noncompetition Agreement In consideration of the compensation paid or payable to Executive by the Company pursuant to this Agreement (including, but not limited to, Section 2 hereof), Executive hereby agrees as follows:

  • Non-Competition Agreement (a) Subject to Sections 5(d) and (f) and Section 12, Employee will not, during the period of his employment by or with the Company, and for a period of two (2) years immediately following the termination of his employment with the Company, for any reason whatsoever, directly or indirectly, for himself or on behalf of or in conjunction with any other person, company, partnership, corporation, business or entity of whatever nature:

  • Non-Competition Agreements Except as described in the Statutory Prospectus and the Prospectus, to the Company’s knowledge, none of the Sponsor, directors or executive officers of the Company is subject to a non-competition agreement or non-solicitation agreement with any employer or prior employer which could materially affect his, her or its ability to be and act in the capacity of shareholder, executive officer or director of the Company, as applicable.

  • Noncompetition Nonsolicitation and Nondisparagement The Executive acknowledges and agrees with the Company that, during the course of the Executive's employment with the Company, the Executive has had and will continue to have the opportunity to develop relationships with existing employees, customers and other business associates of the Company, which relationships constitute goodwill of the Company, and the Executive acknowledges and agrees that the Company would be irreparably damaged if the Executive were to take actions that would damage or misappropriate such goodwill. The Executive accordingly covenants and agrees as follows:

  • Nondisclosure and Noncompetition As an inducement to the Company to enter into this Agreement, the Executive represents to and covenants with or in favor of the Company as follows:

  • NON-COMPETITION AND NONSOLICITATION Executive shall not, during the Employment Period and for a period of one (1) year thereafter, directly or indirectly:

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