NonCompete Payments

NonCompete Payments. Shall mean the annual aggregate gross sum of $200,000, payable in each of the final two years of the Non-Compete Term (as defined herein). The parties agree and acknowledge that for the first twelve (12) months of the Non-Compete Term, Mikelsons shall receive certain severance payments from the ATA Group under that certain Severance Agreement dated August 31, 2005 between Mikelsons and each member of the ATA Group respectively (the "Severance Agreement") and that such severance payments are... additional consideration to Mikelsons for the agreements, covenants, obligations and restrictions under this Agreement. View More