Common use of Certain Covenants of Executive Clause in Contracts

Certain Covenants of Executive. 9.1. Executive agrees that during the Term of Employment, he will not (a) directly or indirectly engage or invest in any business other than Company's business without the prior approval of the CEO or his designee or (b) otherwise act as a director, officer, employee, agent, owner, partner or consultant to any such business. It is understood and agreed that Executive shall not be deemed to be in default with respect to this Section 9.1 as a result of any investment he may make in not more than five percent of the outstanding shares or other units of any security registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (the "1934 Act") or in not more than fifty percent of the outstanding shares or other units of any security not registered pursuant to Section 12 of the 1934 Xxx. 9.2. Executive will not during his employment or thereafter (except in the course of his duties as authorized by Company or as required by law) use or disclose to any person any confidential information or trade secrets belonging or relating to Company or any person or entity with whom Executive have come into contact as a result of his employment. Upon termination of this Agreement, Executive promptly shall return all originals and copies of such papers, lists, documents and records that are in his possession, custody or control. 9.3. If the provisions contained in this Section 9 are more restrictive than permitted by applicable law, the parties agree that the covenants contained in this Section 9 shall be enforceable and in force to the extent permitted by law.