Common use of Non-Compete Payment Clause in Contracts

Non-Compete Payment. In consideration for the covenants made by Executive in this Section 7, the Company shall pay to Executive during the Post Termination Period an annual amount equal to 50% of Executive's Salary in effect as of the date immediately prior to Executive's termination of employment with the Company (the "Non-Compete Payment"). The Non-Compete Payment shall be payable in installments over the course of the Post Termination Period in accordance with the normal payroll practices of the Company as in effect from time to time; provided, however, that in the event that Executive resigns for Good Reason or is terminated without Just Cause and receives severance payments pursuant to Section 6(f)(i) herein, the Non-Compete Payment, during the first 12 months of the Post Termination Period, shall be fully offset by such severance payments and the Company's only obligation under this Section 7(e) shall be to pay the Non-Compete Payment to Executive during the second 12 months of the Post Termination Period.