Common use of Restrictions and Covenants Clause in Contracts

Restrictions and Covenants. If the Optionee is a resident of the District of Colombia, the post-termination noncompetition restrictions in paragraph 6(a)(1) shall not apply unless the Optionee’s compensation (including wages, bonus, commissions, vested stock and other payments in connection with employment) is reasonably expected to equal or exceed in a consecutive twelve (12) month period, or does equal or exceed in the consecutive twelve (12) month period preceding the date of the Optionee’s termination of employment with the Employer, the statutory threshold for a “highly compensated employee”, which is US$154,200 for 2024 and is adjusted annually for inflation.

Restrictions and Covenants. If the Optionee Employee is a resident of the District of Colombia, the post-termination noncompetition restrictions in paragraph 6(a)(19(a)(1) shall not apply unless the OptioneeEmployee’s compensation (including wages, bonus, commissions, vested stock and other payments in connection with employment) is reasonably expected to equal or exceed in a consecutive twelve (12) month period, or does equal or exceed in the consecutive twelve (12) month period preceding the date of the OptioneeEmployee’s termination of employment with the Employer, the statutory threshold for a “highly compensated employee”, which is US$154,200 for 2024 and is adjusted annually for inflation.

Restrictions and Covenants. If the Optionee Participant is a resident of the District of Colombia, the post-termination noncompetition restrictions in paragraph 6(a)(1) shall not apply unless the OptioneeParticipant’s compensation (including wages, bonus, commissions, vested stock and other payments in connection with employment) is reasonably expected to equal or exceed in a consecutive twelve (12) month period, or does equal or exceed in the consecutive twelve (12) month period preceding the date of the OptioneeParticipant’s termination of employment with the Employer, the statutory threshold for a “highly compensated employee”, which is US$154,200 for 2024 and is adjusted annually for inflation.