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he will not be directly or indirectly employed by,
consult for, or in any way provide employee, consultant
or contract work or services for, or serve as a director
of, or have any interest as owner or stockholder in, any
company, partnership, or other business association * *
* which is engaged in competition with the lines of
business of Millipore Corporation and Millipore S.A.
existing on September 30, 1992, in any territory in which
Millipore Corporation or Millipore S.A. was then doing
business * * *
8. The only remedy of Millipore Corporation and
Millipore S.A. for breach by Mr. Massot of his
obligations set forth in Paragraph 7 will be the
forfeiture of the $150,000 which would otherwise be paid
to Mr. Massot on January 1, 1994. * * *
* * * * * * *
13. This Settlement Agreement shall not in anyway
[sic] be construed as an admission by Millipore
Corporation or Millipore S.A. of liability,
responsibility and/or any wrongdoing against Mr. Massot
which makes Millipore Corporation or Millipore S.A.
liable to Mr. Massot in any way, and Millipore
Corporation and Millipore S.A. disclaim any liability to
Mr. Massot. * * *
* * * * * * *
15. This Settlement Agreement shall not in any way
be construed as an admission by Mr. Massot of liability,
responsibility and/or any wrongdoing against Millipore
Corporation or Millipore S.A. which makes Mr. Massot
liable to Millipore Corporation or Millipore S.A. in any
way, and Mr. Massot disclaims any liability to Millipore
Corporation and Millipore S.A.
The agreement was executed on November 30, 1992. On the same
day, Mr. Nunes sent a letter to petitioner’s U.S. counsel in which
he stated Millipore’s position that “in the event that any tax
authority * * * successfully disputes the treatment of sums paid to
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