Non-Compete Payments definition

Non-Compete Payments means the unpaid balance at the Closing of the Company's covenant not to compete payments owed by the Company to the Non-Compete Recipients.
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Non-Compete Payments means the annual aggregate gross sum of $200,000, payable in each of the final two years of the Non-Compete Term (as defined herein). The parties agree and acknowledge that for the first twelve (12) months of the Non-Compete Term, Mikelsons shall receive certain severance payments from the ATA Group under that certain Severance Agreement dated August 31, 2005 between Mikelsons and each member of the ATA Group respectively (the “Severance Agreement”) and that such severance payments are additional consideration to Mikelsons for the agreements, covenants, obligations and restrictions under this Agreement.
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Non-Compete Payments has the meaning stated in Section 9.03(e).
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Examples of Non-Compete Payments in a sentence

  • All Monthly Non-Compete Payments shall be subject to regular and customary withholding.

  • The Company will give the Executive notice within ten (10) days following the Executive's termination if it elects to not make the Non-Compete Payments and, once Non-Compete Payments commence, the Company will give the Executive thirty (30) days' written notice before discontinuing the Non-Compete Payments.

  • Subject to the provisions of Paragraph 2(c) of this Agreement, the payments of the Monthly Non-Compete Payments shall be made each month following the Effective Date.

  • If the Company does elect to make the Monthly Non-Compete Payments, the Company shall not be obligated to continue making any such Monthly Non-Compete Payments and shall be entitled in its sole discretion to cease making the Monthly Non-Compete Payments at any time and for any reason but only upon at least 30 days’ written notice to Employee, and the Company shall have no further obligation to Employee under this subparagraph.

  • If the Company starts but ceases making the Monthly Non-Compete Payments, then, notwithstanding any contrary provision in this Agreement, the Post-Termination Non-Compete Term for purpose of subparagraph 15(a) shall expire on the last day of the month in which the final Monthly Non-Compete Payment was made by the Company.

  • The Company shall provide written notice to Employee no later than 10 days after the Date of Termination or on or before the Company’s first regularly scheduled payday following the Date of Termination, whichever is sooner, of its election to make any Monthly Non-Compete Payments.

  • The Company’s exclusive remedy for Executive’s failure to comply with any of the provisions of Sections 9(b) or 9(c) shall be cessation of any remaining Non-Compete Payments.

  • In the event the Executive dies while receiving Severance Benefits and the Non-Compete Payment (as applicable) under this Agreement, any remaining unpaid Severance Benefits and Non-Compete Payments shall be paid to the designated beneficiary of the Executive (or if none, to the estate of the Executive) following the payment schedule set forth in Section 5(d) and Section 8 hereof in accordance with the payment instructions from the representative of the estate of the Executive.

  • In the event the Company elects to make the Non-Compete Payments, you will be required to execute and not revoke a general release of claims in a standard form utilized by the Company as a condition to your receipt of the Non-Compete Payments.

  • In any instance where the Company has the right to elect to make the Non-Compete Payments, it must do so within fifteen (15) business days of the Company’s receipt of your written notice of your intent to resign or your intent to go to a competing entity, as the case may be.


More Definitions of Non-Compete Payments

Non-Compete Payments shall have the meaning set forth in Section 1.5.
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Non-Compete Payments means the payments in the aggregate amount of $1,000,000 to be made as agreed by Buyer and Seller in consideration of the restrictive covenants set forth in Section 8.3.
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Non-Compete Payments the meaning set forth in Section 7.6(a).
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Non-Compete Payments has the meaning set forth in Section 1.3.4 hereof.
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Non-Compete Payments means all outstanding amounts owed to L. Dent Miller and Charles F. Connor, Jr., pursuant to the Non-Compexxxxxx Axxxxxxnts.
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Non-Compete Payments means payments made by any Borrower or Guarantor to Sam X. Xxxxxxx xx any other Person in respect of any non-competition agreement.
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Related to Non-Compete Payments

  • Non-Compete Period means the period commencing on the Effective Date and ending twelve months after the earlier of the expiration of the Employment Period or the Executive’s Date of Termination.

  • Non-Compete Term means in the case of termination for any reason, the period from the Effective Date to the date ending 2 years following the date of termination.

  • Noncompete Period or "Nonsolicitation Period" means the period beginning the date hereof and ending on the second anniversary of the termination of Employee's employment with Employer.

  • Non-Competition Period means the period beginning at the end of the Term and ending one (1) year after the end of the Term.

  • Non-Compete Agreement means that certain Non-Compete Agreement between the Company and the Executive in substantially the form attached hereto as Exhibit B.

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Noncompetition Period has the meaning set forth in Section 9.01.

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

  • Non-Compete Agreements shall have the meaning provided in Section 5.05.

  • Nonsolicitation Period means the Employment Period and a period ending eighteen months after the Date of Termination;

  • Termination Payments means any payment or distribution of Compensation or benefits made pursuant to Section 4.1(a)-(c) of this Agreement.

  • Severance Period means the period of time commencing on the date of the first occurrence of a Change in Control and continuing until the earlier of (i) the second anniversary of the occurrence of the Change in Control and (ii) the Executive’s death.

  • Non-Competition Agreement has the meaning set forth in Section 2.1 of this Agreement.

  • Severance Payment means any amount paid by a board to or in behalf of a superintendent on early termination of the superinten- dent’s contract that exceeds the amount earned by the superinten- dent under the contract as of the date of termination, including any amount that exceeds the amount of earned standard salary and benefits that is paid as a condition of early termination of the con- tract. Payments to a former superintendent who remains employed by a district in another capacity or contracts with a district to pro- vide the district services may be severance payments in whole or in part if the payments are compensation for the early termination of a prior employment agreement. Severance payments include any payment for actual or threatened litigation involving or related to the employment contract. Education Code 11.201(c); 19 TAC 105.1021(a)(1)

  • Severance Amount means:

  • Swap Termination Payments shall have the meaning set forth in each Swap Agreement.

  • Nonqualifying Termination means a termination of the Executive’s employment (1) by the Company for Cause, (2) by the Executive for any reason other than a Good Reason, (3) as a result of the Executive’s death or (4) by the Company due to the Executive’s absence from his duties with the Company on a full-time basis for at least 180 consecutive days as a result of the Executive’s incapacity due to physical or mental illness.

  • Non-Competition Agreements has the meaning set forth in the Recitals.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Severance Term means the six (6) month period following Employee’s termination by the Company without Just Cause (other than by reason of death or Disability) or by Employee for Good Reason; provided, that if such termination occurs within twelve (12) months following a Change in Control, the Severance Term shall be the twelve (12) month period following such termination.

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Noncompetition Agreements as defined in Section 2.8(a)(iv). "Occupational Safety and Health Law"--any law or regulation designed to provide safe and healthy working conditions and to reduce occupational safety and health hazards, and any program, whether governmental or private (including those promulgated or sponsored by industry associations and insurance companies), designed to provide safe and healthful working conditions.

  • Noncompetition Agreement has the meaning stated in Section 2.1.

  • Change in Control Benefits means the following benefits: