Non-Compete Provisions definition

Non-Compete Provisions has the meaning set forth in the recitals hereof.

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Non-Compete Provisions. Per the terms of Section 8 of your Employment Agreement, you confirm that for a period of eighteen months from the Termination Date that you will not, either directly or indirectly, engage in any activity in competition with any product or service of the Company, or harmful or contrary to the best interest of the Company, including accepting employment with or serving as a consultant to any entity that is in competition with the Company, provided however that if at any time during this eighteen month prohibitionary period the Company shall have a "Change in Control" event as defined in your Employment Agreement, then this employment prohibition shall be retroactively reset so as to run chronologically for a period of one year from the Termination Date. Per Section 8, those companies deemed to be competitors to StorageTek are ATL/Quantum, Exabyte, ▇▇▇▇▇▇ ▇▇▇▇, EMC, Hewlett-Packard, Sun Microsystems and IBM. Provided however, you may at any time request permission from the Company, in writing, to accept employment with any of these designated competitor companies. If the product areas or business units with which you seek to affiliate do not compete with StorageTek, and StorageTek at its reasonable discretion determines that such employment would not be adverse to the interest of StorageTek, then the Company shall approve such employment, such approval not to be unreasonably withheld or delayed and such approval only to be effective if communicated in writing.

Non-Compete Provisions. The fair value of the non-compete provisions, was determined using an income approach based upon management’s assessment of prospective financial information, including an estimated impact of competition, and a discount rate based upon the Company’s weighted average cost of capital.

Examples of Non-Compete Provisions in a sentence

MEIP hereby grants a limited waiver of the Non-Compete Provisions such that the restrictions set forth in Section 5.4(d) of the Asset Purchase Agreement shall not apply in respect of any Triaxial Intellectual Property (or any Exploitation or licensing thereof) that does not infringe on or otherwise violate any of the Intellectual Property or Intellectual Property rights of MEIP, whether arising by Contract or under any Applicable Law.
In the event Employee’s employment is terminated by Employer without Cause or by Employee with Good Reason, then the Non-Compete Provisions of Section 9 shall be void and Employee shall be released from their performance.
Executive acknowledges and agrees that the Non-Compete Provisions and the Confidentiality and Non-Disparagement Provisions are an essential element of the parties' agreement, are a material inducement for the Company to make the payments and provide the benefits set forth above and the breach thereof would be a material breach of this Agreement.
Employee hereby acknowledges the restrictions set forth in Section 12 of the Employment Agreement (the "Non-Compete Provisions") and, as consideration for the payments and benefits set forth above, Employee hereby agrees that Employee shall be bound by such Non-Compete Provisions for the twelve month period commencing as of the Termination Date.
The Executive acknowledges that, upon execution and delivery of this Agreement by the Company and the Executive, the Prior Agreement will be terminated and, except for the Non-Compete Provisions, the Executive shall have no further rights under the Prior Agreement.
SCHEDULE G Non-Compete Provisions....................................................................
Executive acknowledges and agrees that the Non-Compete Provisions and the Confidentiality and Non-Disparagement Provisions are an essential element of the parties’ agreement, are a material inducement for the Company to make the payments and provide the benefits set forth above and the breach thereof would be a material breach of this Agreement.
Executive hereby acknowledges the restrictions set forth in Section 12 of the Employment Agreement (the "Non-Compete Provisions") and, as consideration for the payments and benefits set forth above, Executive hereby agrees that Executive shall be bound by such Non-Compete Provisions for the twelve-month period commencing as of the Termination Date.
Executive hereby acknowledges the restrictions set forth in Section 11 of the Employment Agreement (the “Non-Compete Provisions”) and, as consideration for the payments and benefits set forth above, Executive hereby agrees that Executive shall be bound by such Non-Compete Provisions for the twelve-month period commencing as of the Termination Date.
This Partial Release of Non-Compete Provisions of Employment Agreement is made and entered into this the ____ day of ____________, 1998, by and between ▇▇▇▇▇▇ ▇.

More Definitions of Non-Compete Provisions

Non-Compete Provisions means Section 10 of the Employment Agreement.