Common use of Note Installments Clause in Contracts

Note Installments. With respect to the Restricted Stock purchase described herein, during the employment period (and the period following thereafter that is described in Section 6 of the Executive’s Employment Agreement), any installment that becomes due under the promissory note that is executed by Executive pursuant this Purchase Agreement shall be paid by Employer to Executive as additional compensation. Employer’s obligation hereunder expires upon a material breach by Executive of the restricted covenants in Sections 6,7 or 9, the termination of Executive for Cause (as defined in section 5(c)) of the Executive’s Employment Agreement or the resignation of Executive without Good Reason (as defined in Section 5(c)).

Note Installments. With respect to the Restricted Stock purchase described hereinin Section 4 below, during the employment period Employment Period (and the period following thereafter that is described in Section 6 of the Executive’s Employment Agreement6), any installment that becomes amount due under the promissory note that is executed by Executive pursuant this Purchase Agreement to Section 4 shall be paid by Employer the Corporation to Executive as additional compensation, subject to the conditions of this Section 3(e). EmployerThe Corporation’s obligation hereunder expires upon a material breach by Executive of the restricted restrictive covenants in Sections 6,7 6, 7 or 9, the termination of Executive for Cause (as defined in section Section 5(c)) of the Executive’s Employment Agreement ), or the resignation of Executive without Good Reason (as defined in Section 5(c5(e)).