Common use of Competition after Termination of Service Clause in Contracts

Competition after Termination of Service. If the Director, without the prior written consent of the Bank, engages in, becomes interested in, directly or indirectly, as a sole proprietor, as a partner in a partnership, or as a substantial shareholder in a corporation, or becomes associated with, in the capacity of employee, director, officer, principal, agent, trustee or in any other capacity whatsoever, any enterprise conducted in the trading area (a 50 mile radius of the main office of the Bank), which enterprise is, or may deemed to be, competitive with any business carried on by the Corporation as of the date of termination of the Director’s service or his retirement. This section shall not apply following a Change in Control.

Competition after Termination of Service. If the Director, without the prior written consent of the Bank, engages in, becomes interested in, directly or indirectly, as a sole proprietor, as a partner in a partnership, or as a substantial shareholder in a corporation, or becomes associated with, in the capacity of employee, director, officer, principal, agent, trustee or in any other capacity whatsoever, any enterprise conducted in the trading area (a 50 mile radius of the main office of the Bank), which enterprise is, or may deemed to be, competitive with any business carried on by the Corporation or the Bank as of the date of termination of the Director’s service or his retirement, then the Director’s remaining benefits under this Agreement shall be forfeited. This section shall not apply following a Change in Control.

Competition after Termination of Service. If the Director, without the prior written consent of the BankCompany, engages in, becomes interested in, directly or indirectly, as a sole proprietor, as a partner in a partnership, or as a substantial shareholder in a corporation, or becomes associated with, in the capacity of employee, director, officer, principal, agent, trustee or in any other capacity whatsoever, any enterprise conducted in the trading area (a 50 mile radius of the main office of the BankCompany at the xxxxx of Xxxx and Penn Streets), which enterprise enterpise is, or may deemed to be, competitive with any business carried on by the Corporation Company as of the date of termination of the Director’s 's service or his retirement. This section shall not apply following a Change in of Control.

Competition after Termination of Service. If the Director, without the prior written consent of the Bank, Bank engages in, becomes interested in, directly or indirectly, as a sole proprietor, as a partner in a partnership, or as a substantial shareholder in a corporation, or becomes associated associates with, in the capacity of employee, director, officer, principal, agent, trustee or in any other capacity whatsoever, any enterprise conducted in the trading area (a 50 mile radius of the main office of the BankCorporation), which enterprise is, or may deemed to be, competitive with any business carried on by the Corporation as of the date of termination of the Director’s service or his retirement. This section shall not apply following a Change in Control.