Common use of Additional Restrictive Covenants Clause in Contracts

Additional Restrictive Covenants. A. Executive acknowledges and agrees that given the extent and nature of the confidential and proprietary information he/she will obtain during the course of his/her employment with the Company, it would be inevitable that such confidential information would be disclosed or utilized by the Executive should he/she obtain employment from, or otherwise become associated with, an entity or person that is engaged in a business or enterprise that directly competes with the Company. Consequently, if in any period during which the Executive is receiving payments from the Company as a severance benefit, including but not limited to severance pay pursuant to Section 7, Executive shall, without prior written consent of the Company’s Board of Directors, directly or indirectly own, manage, operate, join, control or participate in the ownership, management, operation or control of, or be employed by, render service to or be connected in any manner with, any enterprise which is engaged in any business directly competitive with that of the Company, then Company may, in its sole discretion, permanently and/or temporarily cancel and/or suspend any remaining severance payments to Executive. Cancellation or suspension of payments to Executive under this Section 12(A) shall not be deemed a breach of this Agreement by Company. The provisions of this Section 12(A) shall not apply to any passive investment representing an interest of less than two percent (2%) of an outstanding class of publicly-traded securities of any company or other enterprise. B. During the Employment Period, and for any additional period thereafter during which the Executive is receiving payments from the Company as a severance benefit, including but not limited to severance pay pursuant to Section 7, Executive shall not encourage or solicit any of the Company’s employees to leave the Company’s employ for any reason or interfere in any other manner with employment relationships at the time existing between the Company and its employees. In addition, Executive shall not solicit, directly or indirectly, business from any client of the Company, induce any of the Company’s clients to terminate their existing business relationship with the Company or interfere in any other manner with any existing business relationship between the Company and any client or other third party. C. Executive acknowledges that monetary damages may not be sufficient to compensate the Company for any economic loss which may be incurred by reason of his/her breach of the foregoing restrictive covenants. Accordingly, in the event of any such breach, the Company shall, in addition to the termination of this Agreement and any remedies available to the Company at law, be entitled to obtain equitable relief in the form of an injunction precluding Executive from continuing such breach.

Additional Restrictive Covenants. A. Executive acknowledges and agrees that given the extent and nature of the confidential and proprietary information he/she will obtain during the course of his/her employment with the Company, it would be inevitable that such confidential information would be disclosed or utilized by the Executive should he/she obtain employment from, or otherwise become associated with, an entity or person that is engaged in a business or enterprise that directly competes with the Company. Consequently, if in any period during which the Executive is receiving payments from the Company as a severance benefit, including but not limited to severance pay Severance Compensation pursuant to Section 7, Executive shall, without prior written consent of the Company’s Board of DirectorsBoard, directly or indirectly own, manage, operate, join, control or participate in the ownership, management, operation or control of, or be employed by, render service to or be connected in any manner with, any enterprise which is engaged in any business directly competitive with that of the Company, then Company may, in its sole discretion, permanently and/or temporarily cancel and/or suspend any remaining severance payments to Executive. Cancellation or suspension of payments to Executive under this Section 12(A) shall not be deemed a breach of this Agreement by Company. The provisions of this Section 12(A) shall not apply to any passive investment representing an interest of less than two percent (2%) of an outstanding class of publicly-traded securities of any company or other enterprise. B. During the Employment Period, and for any additional period thereafter during which the Executive is receiving payments from the Company as a severance benefit, including but not limited to severance pay pursuant to Section 7, Executive shall not encourage or solicit any of the Company’s employees to leave the Company’s employ for any reason or interfere in any other manner with employment relationships at the time existing between the Company and its employees. In addition, Executive shall not solicit, directly or indirectly, business from any client of the Company, induce any of the Company’s clients to terminate their existing business relationship with the Company or interfere in any other manner with any existing business relationship between the Company and any client or other third party. C. Executive acknowledges that monetary damages may not be sufficient to compensate the Company for any economic loss which may be incurred by reason of his/her breach of the foregoing restrictive covenants. Accordingly, in the event of any such breach, the Company shall, in addition to the termination of this Agreement and any remedies available to the Company at law, be entitled to obtain equitable relief in the form of an injunction precluding Executive from continuing such breach.

Additional Restrictive Covenants. A. Executive acknowledges and agrees that given the extent and nature of the confidential and proprietary information he/she will obtain during the course of his/her employment with the Company, it would be inevitable that such confidential information would be disclosed or utilized by the Executive should he/she obtain employment from, or otherwise become associated with, an entity or person that is engaged in a business or enterprise that directly competes with the Company. Consequently, if in any period during which the Executive is receiving payments from the Company as a severance benefit, including but not limited to severance pay pursuant to Section 7, Executive shall, without prior written consent of the Company’s 's Board of Directors, directly or indirectly own, manage, operate, join, control or participate in the ownership, management, operation or control of, or be employed by, render service to or be connected in any manner with, any enterprise which is engaged in any business directly competitive with that of the Company, then Company may, in its sole discretion, permanently and/or temporarily cancel and/or suspend any remaining severance payments to Executive. Cancellation or suspension of payments to Executive under this Section 12(A) shall not be deemed a breach of this Agreement by Company. The provisions of this Section 12(A) shall not apply to any passive investment representing an interest of less than two percent (2%) of an outstanding class of publicly-traded securities of any company or other enterprise. B. During the Employment Period, and for any additional period thereafter during which the Executive is receiving payments from the Company as a severance benefit, including but not limited to severance pay pursuant to Section 7, Executive shall not encourage or solicit any of the Company’s 's employees to leave the Company’s 's employ for any reason or interfere in any other manner with employment relationships at the time existing between the Company and its employees. In addition, Executive shall not solicit, directly or indirectly, business from any client of the Company, induce any of the Company’s 's clients to terminate their existing business relationship with the Company or interfere in any other manner with any existing business relationship between the Company and any client or other third party. C. Executive acknowledges that monetary damages may not be sufficient to compensate the Company for any economic loss which may be incurred by reason of his/her breach of the foregoing restrictive covenants. Accordingly, in the event of any such breach, the Company shall, in addition to the termination of this Agreement and any remedies available to the Company at law, be entitled to obtain equitable relief in the form of an injunction precluding Executive from continuing such breach.

Additional Restrictive Covenants. A. Executive acknowledges and agrees that given the extent and nature of the confidential and proprietary information he/she he will obtain during the course of his/her his employment with the Company, it would be inevitable that such confidential information would be disclosed or utilized by the Executive should he/she he obtain employment from, or otherwise become associated with, an entity or person that is engaged in a business or enterprise that directly competes with the Company. Consequently, if in during the Employment Period and for any additional period thereafter during which the Executive is receiving payments from the Company as a severance benefit, including but not limited to severance pay pursuant to Section 76 or any Change in Control Payments under Section 10, Executive shallshall not, without prior written consent of the Company’s Board of Directors, directly or indirectly own, manage, operate, join, control or participate in the ownership, management, operation or control of, or be employed by, render service to or be connected in any manner with, any enterprise which is engaged in any business directly competitive with or similar to that of the Company; provided, then Company mayhowever, in its sole discretion, permanently and/or temporarily cancel and/or suspend any remaining severance payments to Executive. Cancellation or suspension of payments to Executive under this Section 12(A) shall not be deemed a breach of this Agreement by Company. The provisions of this Section 12(A) that such restriction shall not apply to any passive investment representing an interest of less than two percent (2%) of an outstanding class of publicly-traded securities of any company Company or other enterpriseenterprise which is not, at the time of such investment, engaged in a business competitive with the Company’s business. B. During the Employment Period, Period and for any additional period thereafter during which the Executive is receiving payments from the Company as a severance benefit, including but not limited to severance pay pursuant to Section 76 or any Change in Control Payments under Section 10, Executive shall not encourage or solicit any of the Company’s employees to leave the Company’s employ for any reason or interfere in any other manner with employment relationships at the time existing between the Company and its employees. In addition, Executive shall not solicit, directly or indirectly, business from any client of the Company, induce any of the Company’s clients to terminate their existing business relationship with the Company or interfere in any other manner with any existing business relationship between the Company and any client or other third party. C. Executive acknowledges that monetary damages may not be sufficient to compensate the Company for any economic loss which may be incurred by reason of his/her his breach of the foregoing restrictive covenants. Accordingly, in the event of any such breach, the Company shall, in addition to the termination of this Agreement and any remedies available to the Company at law, be entitled to obtain equitable relief in the form of an injunction precluding Executive from continuing such breach.