Non-Compete Fee Sample Clauses

Non-Compete Fee. In addition, during each of the five (5) initial years of the Period of Employment, the Company shall pay Executive the sum of Forty Thousand Dollars ($40,000.00) per year, payable in 24 equal installments on the first and sixteenth of each month, or at such other times as may mutually be agreed upon by the Company and Executive. Said sum shall be deemed additional consideration for the non-compete covenants of Executive provided hereinbelow.
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Non-Compete Fee. (i) Subject to the terms of Sections 5(a)(iii) and 5(b) hereof, in exchange for the Non-compete Obligations, the Company shall pay to the Employee the Non-compete Fee (as defined in Exhibit A hereto) in advance as follows: (A) one-sixteenth (1/16) of the total Non-compete Fee will be paid no later than five (5) days after the Effective Date, and (B) one-sixteenth (1/16) of the total Non-compete Fee will be paid no later than the end of each three-month period after the Effective Date with the last payment due at the end of the three-month period immediately preceding the fourth (4th) anniversary of the Effective Date for a total of sixteen (16) of such payments. Except as otherwise provided below, Employee shall be entitled to receive any Non-compete Fee otherwise payable hereunder only for so long as he remains continuously employed hereunder at all times through the date for payment thereof (each, a “Non-compete Fee Payment Date”). In the event Employee is not entitled to receive any Non-compete Fee hereunder, the same shall, immediately and automatically be deemed forfeited in full and retained by the Company.
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Non-Compete Fee. In consideration for Executive’s agreement to enter into the Non-Competition, Confidentiality and Non-Solicitation Agreement attached hereto as Exhibit B, during the Employment Term and for the one (1) year period after the Executive’s Date of Termination (as defined in Section 2), the Company shall pay to Executive an annual amount of $50,000 (the “Non-Compete Fee”). The Non-Compete Fee shall become payable to Executive on the initial effective date of this Agreement and on each anniversary of the effective date of this Agreement for as long as this Section 1.6 is in effect. The Non-Compete Fee shall be paid to the Executive on the Company’s first payroll period that occurs after the Non-Compete Fee becomes payable to the Executive as provided in the immediately preceding sentence. The Non- Compete Fee shall automatically cease to be payable to Executive if the Executive breaches the Non-Competition, Confidentiality and Non-Solicitation Agreement.
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Non-Compete Fee. The non-compete fee, as set forth in Section 3 of the Original Agreement, shall be reduced to an amount equal to $3,500 per month.
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Non-Compete Fee. As an additional inducement to Xxxxxx and Corporate TV to enter into the transactions contemplated by the Asset Purchase Agreement, Xxxxxx and Corporate TV have agreed to enter into this Non-Compete Agreement, on the terms and subject to the conditions herein contained. In consideration of the covenants contained herein Medialink shall pay to Xxxxxx and Corporate TV the sum of Three Hundred Thousand ($300,000) Dollars, payable on the execution of this Agreement.
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Non-Compete Fee. The Company shall pay Xxx a non-compete fee of $5,000 per month commencing on the date of this Agreement and continuing for the term of this Agreement.
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Related to Non-Compete Fee

  • Non-compete Provision I agree that for the one (1) year period after the date my employment ends for any reason, including but not limited to voluntary termination by me or involuntary termination by Company, I will not, directly or indirectly, as an officer, director, employee, consultant, owner, partner, or in any other capacity solicit, perform, or provide, or attempt to perform or provide Conflicting Services anywhere in the Restricted Territory (as defined below), nor will I assist another person to solicit, perform or provide or attempt to perform or provide Conflicting Services anywhere in the Restricted Territory.

  • Non-Competition Period The "non-competition period" shall begin on January 1, 2011 and shall end twelve (12) months after the Employee’s termination of employment; provided, however, that the “non-competition period” shall end on the date Employee’s employment ends in the event of Employee’s termination for “good reason” (as defined in paragraph 6(d)), or Employee’s termination without “cause” (as defined in paragraph 3(d)).

  • Non-Compete Agreement In consideration of this Agreement, the Executive agrees that he will not, for a period of one year from the date of his or her termination of employment with the Company, directly or indirectly own, manage, operate, join, control, be employed by, or participate in the ownership, management, operation or control of, or be connected in any manner, including but not limited to, holding the position of shareholder, director, officer, consultant, independent contractor, executive partner, or investor with any "Competing Enterprise." For purposes of this paragraph, a "Competing Enterprise" means any entity, firm or person engaged in a business within the State of Wisconsin or the upper peninsula area of the State of Michigan (the "Territory") which is in competition with any of the businesses of the Company or any of its subsidiaries within the Territory as of the date the Executive's termination of employment, and whose aggregate gross revenues, calculated for the most recently completed fiscal year of the Competing Enterprise, derived from all such competing activities within the Territory during such fiscal year, equal at least 10% or more of such Enterprise's consolidated net revenues for such fiscal year. If the Executive notifies the Company in writing of any employment or opportunity which the Executive proposes to undertake during the one year non-compete period, and supplies the Company with any additional information which the Company may reasonably request, the Company agrees to promptly notify the Executive within thirty days after all information reasonably requested by it has been provided, whether the Company considers the proposed employment or opportunity to be prohibited by these provisions and, if so, whether the Company is willing to waive the same. Notwithstanding anything in this Section 10, the Executive shall not be prohibited from acquiring or holding up to 2% of the common stock of an entity that is traded on a national securities exchange or a nationally recognized over-the-counter market.

  • Non-Compete During the term of this Agreement and for a period of twelve (12) months following the Director’s removal or resignation from the Board of Directors of the Company or any of its subsidiaries or affiliates (the “Restricted Period”), the Director shall not, directly or indirectly, (i) in any manner whatsoever engage in any capacity with any business competitive with the Company’s current lines of business or any business then engaged in by the Company, any of its subsidiaries or any of its affiliates (the “Company’s Business”) for the Director’s own benefit or for the benefit of any person or entity other than the Company or any subsidiary or affiliate; or (ii) have any interest as owner, sole proprietor, stockholder, partner, lender, director, officer, manager, employee, consultant, agent or otherwise in any business competitive with the Company’s Business; provided, however, that the Director may hold, directly or indirectly, solely as an investment, not more than one percent (1%) of the outstanding securities of any person or entity which is listed on any national securities exchange or regularly traded in the over-the-counter market notwithstanding the fact that such person or entity is engaged in a business competitive with the Company’s Business. In addition, during the Restricted Period, the Director shall not develop any property for use in the Company’s Business on behalf of any person or entity other than the Company, its subsidiaries and affiliates.

  • Non-Compete Covenant For a period of 2 years after the effective date of this Agreement, NC will not directly or indirectly engage in any business that competes with ARS. This covenant shall apply to the geographical area that includes North America.

  • Non-Compete Covenants If Employee terminates his employment without cause, or if Employee's employment is terminated by Bank for cause, then for one year from the date of such termination Employee will not, without the prior written consent of Bank:

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

  • Non-Competition a. Executive acknowledges and recognizes the highly competitive nature of the businesses of the Company and its affiliates and accordingly agrees as follows:

  • Noncompetition Period For the purpose of Section 9 of this Section, “Noncompetition Period” shall mean the period of employment hereunder and the period commencing on the date of termination of employment and ending 12 months thereafter. If employee is found to have violated the covenants contained herein during the Noncompetition Period such Noncompetition Period shall be extended for a period equal to the amount of time the Employee is found to have been in non-compliance.

  • Non-Compete Agreements The Company, in its sole discretion, may require you to execute a separate non-compete, non-solicitation, or similar agreement in connection with the grant of the Restricted Stock Units pursuant to this Agreement or in connection with the acceleration of the Restricted Stock Units in accordance with the provisions of Section 6 of this Agreement.

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