Non-Compete Payment definition

Non-Compete Payment means an amount equal to Executive’s then current annual Base Salary + Target Bonus, which shall be paid by the Company in a lump sum payment and in accordance with applicable law, but in any event within thirty (30) days of the event triggering such payment.

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Non-Compete Payment means the payment to be made to Executive pursuant to Section 8 hereof.

Non-Compete Payment shall be an amount at least equal to Optionee’s then current annual base salary. Such amount shall be in addition to any other amounts paid or payable to Optionee with respect to other severance plans or policies maintained by the Company. For the avoidance of doubt, the provisions of this Section II.E shall supersede any agreement between Optionee and the Company relating to the prohibitions on Optionee set forth in Section II.A, with the exception of any similar agreement contained in (i) any employment agreement between Optionee and the Company, (ii) any agreement between Optionee and the Company not related to the employment of Optionee by the Company, (iii) any severance plan or policy of the Company and (iv) any change in control severance plan or policy of the Company.

Examples of Non-Compete Payment in a sentence

Subject to the Executive honoring the non-compete covenant in Section 10(a) hereof, the Non-Compete Payment shall be paid monthly over the one-year Non-Compete Period following the Date of Termination in equal monthly installments of one-twelfth (1/12th) of the Non-Compete Payment.
In such event, the Company shall pay Executive the Severance Payment, the Non-Compete Payment, and the Medical Benefits.
If the Company terminates the Executive's employment pursuant to Section 6(c) or the Executive terminates such employment, the Executive shall not be entitled to the Non-Compete Payment, and the Covenant Not-to-Compete set forth in Section 5 hereof shall remain in full force and effect.
Such Non-Compete Payment, however, shall not be required to be paid by the Company if the Company elects, in its sole discretion, to release the Executive from the Covenant Not-to-Compete set forth in Section 5 hereof.
Additionally, if the Company commences paying Executive Non-Compete Payment Installments and subsequently elects in the future, in its sole discretion, to release Executive from the Covenant Not-to-Compete and gives notice to Executive, then, at the effective date of such notice, Executive shall no longer be subject to the Covenant Not-to-Compete, and no further Non-Compete Payment Installments shall be due or payable to Executive.

More Definitions of Non-Compete Payment

Non-Compete Payment shall be an amount at least equal to Grantee’s then current annual base salary. Such amount shall be in addition to any other amounts paid or payable to Grantee with respect to other severance plans or policies maintained by the Company. For the avoidance of doubt, the provisions of this Section II.E shall supersede any agreement between Grantee and the Company relating to the prohibitions on Grantee set forth in Section II.A, with the exception of any similar agreement contained in (i) any employment agreement between Grantee and the Company, (ii) any agreement between Grantee and the Company not related to the employment of Grantee by the Company, (iii) any severance plan or policy of the Company and (iv) any change in control severance plan or policy of the Company.

Non-Compete Payment shall be an amount at least equal to Grantee’s then current annual base salary. Such amount shall be in addition to any other

Non-Compete Payment shall have the meaning defined in Section 4(d).

Non-Compete Payment means 66 2/3% of the sum of the Participant’s Salary and Bonus Target.

Non-Compete Payment means the seven million five hundred thousand U.S. Dollars (US$7,500,000) payable to ABPH by the Purchaser pursuant to the Non-Competition Agreement.

Non-Compete Payment has the meaning given such term in Section 16.05(c).

Non-Compete Payment means an amount equal to Ten Thousand Dollars ($10,000). A Non-compete Payment will be paid to each Owner pursuant to Section 2.3.