Common use of Waiver of notice period Clause in Contracts

Waiver of notice period. Upon receipt of the Participant’s notice of resignation and at any time during the Notice Period, the Company may, in its sole discretion, waive the remainder of the Notice Period, in which case the Participant’s employment will be terminated upon receipt of written notice from the Company. Under such circumstances, the Company will not be obliged to provide the Participant with pay in lieu of notice and, in turn, the Participant will no longer be bound by the specific non-competition restriction under the Participant’s duty of loyalty outlined in Section 2(c). The Participant will continue to be bound by any post-employment non-competition, non-disclosure and non-solicitation restrictions in agreements the Participant entered into with the Company.