Common use of Non-Compete Payment Clause in Contracts

Non-Compete Payment. In consideration for Q▇▇▇▇▇’▇ agreement to abide by the restrictions contained in Section 2, if Q▇▇▇▇▇’▇ employment is terminated without Cause (as defined in Section 5(b) of the Employment Agreement or by Q▇▇▇▇▇ for Good Reason (as defined in Section 3(b) of the Employment Agreement), and if Q▇▇▇▇▇ executes the Separation and Release Agreement referenced in Section 10 of the Employment Agreement and the Separation and Release Agreement becomes irrevocable, the Company hereby agrees to pay to Q▇▇▇▇▇, during the twenty (20) month period following such termination, the gross amount of $1,250,000 in monthly installments of $62,500, subject to applicable tax withholdings, payable on or before the fifteenth day of each month.

Non-Compete Payment. In consideration for QC▇▇▇▇▇’▇ agreement to abide by the restrictions contained in Section 2, if QC▇▇▇▇▇’▇ employment is terminated without Cause (as defined in Section 5(b) of the Employment Agreement or by QC▇▇▇▇▇ for Good Reason (as defined in Section 3(b) of the Employment Agreement), and if QC▇▇▇▇▇ executes the Separation and Release Agreement referenced in Section 10 of the Employment Agreement and the Separation and Release Agreement becomes irrevocable, the Company hereby agrees to pay to QC▇▇▇▇▇, during the twenty twelve (2012) month period following such termination, the gross amount of $1,250,000 300,000 in monthly installments of $62,50025,000, subject to applicable tax withholdings, payable on or before the fifteenth day of each month.