Common use of Competing With the Company Clause in Contracts

Competing With the Company. If Employee’s employment with the Company or a Subsidiary is terminated for any reason whatsoever and within 12 months after the date thereof such Employee either (i) accepts employment with any competitor of, or otherwise engages in competition with, the Company or any of its Subsidiaries, (ii) solicits any customers or employees of the Company or any of its Subsidiaries to do business with or render services to the Holder or any business with which the Employee becomes affiliated or to which the Employee renders services or (iii) uses or discloses to anyone outside the Company any confidential information or material of the Company or any of its Subsidiaries in violation of the Company’s policies or any agreement between the Employee and the Company or any of its Subsidiaries, the Committee, in its sole discretion, may require the Employee to return to the Company the economic value of any award that was realized or obtained by such Employee at any time during the period beginning on the date that is 6 months prior to the date such Employee’s employment is terminated; provided, however, that if Employee is a resident of the State of California, such right must be exercised by the Company for cash within six months after the date of termination of Employee’s service to the Company or within six months after exercise of the Option, whichever is later. In such event, Employee agrees to remit the economic value to the Company in accordance with Section 5.5.2.