Common use of Competing Businesses Clause in Contracts

Competing Businesses. During the period of his employment under this Agreement and for a period of two years thereafter, the Employee shall not be employed by or otherwise engage in or be interested in any business in competition with the Company, except that the Employee's investment in any such business shall not be considered a violation of this paragraph if the stock of such business is traded on a national securities exchange and the Employee owns less than 1% of the equity thereof; provided that the foregoing (a) shall not limit or prevent the Employee from (i) serving on the board of directors of any corporation on which the Employee is serving, or (ii) investing in any business in which the Employee has an investment, each as of the date of termination of his employment, and (b) shall be null and void if the Employee is terminated by the Company without Cause.