NONCOMPETITION PAYMENT. If Employee’s employment with the Company is terminated, other than by (i) the Company for Cause, or (ii) pursuant to a voluntary termination by Employee which is not within 90 days of a Good Reason Event, then the Company shall continue to pay Employee at a rate equal to Employee’s base salary at the time of such termination for the Noncompetition Period, provided that such payments shall be made pursuant to the Company’s normal payroll practices and shall be subject to any required or authorized withholding and declarations. Notwithstanding the foregoing, the Company shall not be obligated to make such noncompetition payments if the Company gives Employee written notice, within 15 days after the date of the termination of employment, that the Company has elected to waive the provisions of Section 1.1 hereof and thus not pay the noncompetition payment described above.
Appears in 3 contracts
Sources: Non Disclosure and Non Competition Agreement (MWI Veterinary Supply, Inc.), Non Disclosure and Non Competition Agreement (MWI Veterinary Supply, Inc.), Non Disclosure and Non Competition Agreement (MWI Veterinary Supply, Inc.)