Non-Competition Consideration definition

Non-Competition Consideration shall have the meaning set forth in Section 1(aa) below.

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Non-Competition Consideration shall consist of the consideration set forth in (i) this Agreement, (ii) the Asset Agreement, and (iii) the Prior Agreements (as defined in the Asset Agreement), all of which contained and/or provided consideration for prior noncompetition agreements of Employee, which prior noncompetition agreements shall continue as modified by this paragraph 7 and shall continue to provide consideration for the agreements of Employee in this paragraph 7; provided that all references to the "continuing" effect of the non-competition covenants in the Prior Agreements are intended solely to incorporate said provisions herein, as modified herein, as of the Modification Date. Employee shall have no liability for any actions or inactions taken, directly or indirectly, prior to the Modification Date, with respect to the non-competition covenants of the Prior Agreements; provided that nothing in this sentence shall limit the representations, warranties, covenants, and agreements of Employee in the Asset Agreement, or the rights of ESI or Employer upon a breach of any such items.

Non-Competition Consideration has the meaning ascribed to it in Section 5.5.

Examples of Non-Competition Consideration in a sentence

Executive agrees that if Executive is deemed by a court or other tribunal to have violated any of the terms of the restrictive covenant obligations in this Section 13, the Restricted Period will be extended by one day for each day that Executive failed to comply with the restriction at issue and, further, the Non-Competition Consideration shall cease or be repaid by Executive for each month of such breach during the Restricted Period.
The total consideration for the covenants not to compete required by Section 13 of this Agreement shall be $50,000 (the "Non-Competition Consideration").
Any shares of the Parent's restricted common stock to be issued in payment of the Non-Competition Consideration are fully paid and non-assessable shares, have been duly authorized to be issued, and are free and clear of all liens and encumbrances.
As separate consideration for this non-competition provision, Company shall pay to Consultant at the commencement of the Non-Compete Term the consideration specified in Exhibit A hereto (the `Non-Competition Consideration").
In consideration of Stockholder's obligations set forth in Section 7.1 hereto, Parent shall deliver an aggregate of 2,500 shares of Parent Common Stock to Stockholder at the Closing (the "Non-Competition Consideration").
Party 8.1 Non-Competition Agreement 4.4 Non-Competition Consideration 1.
On the Closing Date, Axiom shall pay, by bank treasurer's check or wire transfer (at the discretion of Axiom), to the Shareholders, as consideration for such Shareholders' entering into the noncompetition agreement set forth in Section 8.3 hereof, an aggregate of Five Hundred Thousand Dollars ($500,000) (the "Non-Competition Consideration Amount"), allocated among the Shareholders as specified on Schedule 3.1.
On the First Closing Date, the Non-Competition Consideration shall be disbursed to the Covenantors payable in immediately available funds to the Covenantors by wire transfer to such bank account as shall be designated by the Covenantors in writing to Purchaser at least 24 hours prior to First Closing.
The "Non-Competition Consideration" is included within the consideration set forth in this Agreement.
Subject to the foregoing and the provisions set forth herein, the Severance Payments and COBRA Payments will commence to be paid to you on the 61st day following your employment termination date, and shall include any Severance Payments and COBRA Payments that were otherwise scheduled to be paid prior thereto, provided that the salary component of your Severance Payments shall be paid to you commencing on the first payroll period following the final payment of your Non-Competition Consideration.

More Definitions of Non-Competition Consideration

Non-Competition Consideration means US$5 million.

Non-Competition Consideration means an amount equal to Executive’s then-current Base Salary payable as follows: (A) an amount equal to seventy-five percent (75%) of the Non-Competition Consideration shall be paid in substantially equal installments over the Non-Competition Period, in accordance with the Company’s regular payroll practices, and (B) an amount equal to twenty-five percent (25%) of the Non-Competition Consideration shall be paid in a lump sum upon the expiration of the Non-Competition Period, subject in the case of both (A) and (B) to Executive’s compliance during such period with the terms and conditions of Section 9 of this Agreement; provided that the Non-Competition Consideration described above shall be reduced by the amount of Applicable Severance Benefit paid to Executive as described in Section 8(l) below plus the amount of Prepaid Severance Installments paid to Executive as described in Section 8(m) below.