OPTIONAL POST-EMPLOYMENT RESTRAINT Sample Clauses

OPTIONAL POST-EMPLOYMENT RESTRAINT. (a) The Executive and the Company agree that notwithstanding termination of this agreement for whatever reason, the Company may, at its option exercisable on or before the termination date of this agreement, pay the Executive an additional one year's basic salary package as per clause 5 of this Agreement in consideration for the Executive agreeing to the post-employment restraints in clause 13.2(d) of this Agreement. (b) The Executive may elect to have the amount payable under clause 13.2(a) paid monthly or in a lump sum on exercise of the option. If a lump sum is elected, the lump sum shall be discounted by the Discount Rate. For the purposes of this ------------------------------------------------------------------------------- 11