Common use of Acknowledgements; Confidential Information; Competitive Activities; Non Solicitation Clause in Contracts

Acknowledgements; Confidential Information; Competitive Activities; Non Solicitation. 6.1 The Executive acknowledges and agrees as follows: 6.1.1 The Company is in the payments industry and provides such services both nationally and internationally without limitation to any geographic area. 6.1.2 Since the Company would suffer irreparable harm if the Executive left the Company’s employ and solicited the business and/or employees of the Company or otherwise interfered with business relationships of the Company, it is reasonable to protect the Company against such activities by the Executive for a limited period of time after the Executive leaves the Company. 6.1.3 The covenants contained in Paragraphs 6.2, 6.3, 6.4 and 6.5 below are reasonably necessary for the protection of the Company and are reasonably limited with respect to the activities they prohibit, their duration, their geographical scope and their effect on the Executive and the public. The purpose and effect of the covenants simply are to protect the Company for a limited period of time from unfair competition by the Executive.