Common use of Termination of Non-Competition Agreements Clause in Contracts

Termination of Non-Competition Agreements. All non-competition agreements (or non-competition provisions within other agreements) restricting the activities of the Executive after the termination of the Executive’s employment with the Company will be null and void and of no further force and effect. If, on or after the date of a Change in Control, an Affiliate is sold, merged, transferred or in any other manner or for any other reason ceases to be an Affiliate or all or any portion of the business or assets of an Affiliate are sold, transferred or otherwise disposed of and the acquiror is not the Parent Corporation or an Affiliate (a “Disposition”), and the Executive remains or becomes employed by the acquiror or an “affiliate” of the acquiror (as defined in this Agreement but substituting “acquiror” for “Parent Corporation”) in connection with the Disposition, the Executive will be deemed to have terminated employment on the effective date of the Disposition for purposes of this Section 2 and will be entitled to the benefits described in this Section 2 unless (x) the acquiror and its affiliates jointly and severally expressly assume and agree, in a manner that is enforceable by the Executive, to perform the obligations of this Agreement to the same extent that the Company would be required to perform if the Disposition had not occurred and (y) the Successor guarantees, in a manner that is enforceable by the Executive, payment and performance by the acquiror.

Termination of Non-Competition Agreements. All non-competition agreements (or non-competition provisions within other agreements) restricting the activities of the Executive after the termination of the Executive’s 's employment with the Company will be null and void and of no further force and effect. If, on or after the date of a Change in Control, an Affiliate is sold, merged, transferred or in any other manner or for any other reason ceases to be an Affiliate or all or any portion of the business or assets of an Affiliate are sold, transferred or otherwise disposed of and the acquiror is not the Parent Corporation or an Affiliate (a “"Disposition”"), and the Executive remains or becomes employed by the acquiror or an “"affiliate” " of the acquiror (as defined in this Agreement but substituting “"acquiror” " for “"Parent Corporation”") in connection with the Disposition, the Executive will be deemed to have terminated employment on the effective date of the Disposition for purposes of this the Section 2 and will be entitled to the benefits described in this Section 2 unless (x) the acquiror and its affiliates jointly and severally expressly assume and agree, in a manner that is enforceable by the Executive, to perform the obligations of this Agreement to the same extent that the Company would be required to perform if the Disposition had not occurred and (y) the Successor guarantees, in a manner that is enforceable by the Executive, payment and performance by the acquiror.