Common use of Consideration for Covenants Clause in Contracts

Consideration for Covenants. In consideration of the Executive’s agreement to the covenants of confidentiality, non-competition and non-solicitation contained in this Agreement and subject to the Executive’s meeting in full all of his obligations under those covenants, the Company will provide the Executive with a payment of $3 million, payable in one lump sum on the Effective Date.