Common use of Competition; Confidential Information Clause in Contracts

Competition; Confidential Information. The Employee and the Company recognize that due to the nature of his engagements hereunder, and the relationship of the Employee to the Company, the Employee has had access to and has acquired, will have access to and will acquire, and has assisted in and may assist in developing, confidential and proprietary information relating to the business and operations of the Company and its affiliates, including, without limiting the generality of the foregoing, information with respect to their present and prospective products, systems, customers, agents, processes, and sales and marketing methods. The Employee acknowledges that such information has been and will continue to be of central importance to the business of the Company and its affiliates and that disclosure of it to or its use by others could cause substantial loss to the Company. The Employee and the Company also recognize that an important part of the Employee's duties will be to develop good will for the Company and its affiliates through his personal contact with customers, agents and others having business relationships with the Company and its affiliates, and that there is a danger that this good will, a proprietary asset of the Company and its affiliates, may follow the Employee if and when his relationship with the Company is terminated. Employee acknowledges that his services to be rendered hereunder have a unique value to the Company, for the loss of which the Company cannot be adequately compensated by damages in an action at law. In view of the unique value to the Company of the services of Employee, and because of the Confidential Information to be obtained by or disclosed to Employee, and as a material inducement to the Company to enter into this Employment Agreement and to pay to Employee the compensation referred to in Paragraph 4 hereof, Employee covenants and agrees that:

Competition; Confidential Information. The Employee and the Company recognize that due to the nature of his engagements hereunder, and the relationship of the Employee to the Company, the Employee has had access to and has acquired, will have access to and will acquire, and has assisted in and may assist in developing, confidential and proprietary information relating to the business and operations of the Company and its affiliates, including, without limiting the generality of the foregoing, information with respect to their present and prospective xxxxxxx xxx xxxspective products, systems, customers, agents, processes, and sales and marketing methods. The Employee acknowledges that such information has been and will continue to be of central importance to the business of the Company and its affiliates and that disclosure of it to or its use by others could cause substantial loss to the Company. The Employee and the Company also recognize that an important part of the Employee's duties will be to develop good will for the Company and its affiliates through his personal contact with customers, agents and others having business relationships with the Company and its affiliates, and that there is a danger that this good will, a proprietary asset of the Company and its affiliates, may follow the Employee if and when his relationship with the Company is terminated. Employee acknowledges that his services to be rendered hereunder have a unique value to the Company, for the loss of which the Company cannot be adequately compensated by damages in an action at law. In view of the unique value to the Company of the services of Employee, and because of the Confidential Information to be obtained by or disclosed to Employee, and as a material inducement to the Company to enter into this Employment Agreement and to pay to Employee the compensation referred to in Paragraph 4 hereof, Employee covenants and agrees that:

Competition; Confidential Information. The Employee and the Company recognize that due to the nature of his engagements hereunder, and the relationship of the Employee to the Company, the Employee has had access to and has acquired, will have access to and will acquire, and has assisted in and may assist in developing, confidential and proprietary information relating to the business and operations of the Company and its affiliates, including, without limiting the generality of the foregoing, information with respect to their present and prospective products, systems, customers, agents, processes, and sales and marketing methods. The Employee acknowledges that such information has been and will continue to be of central importance to the business of the Company and its affiliates and that disclosure of it to or its use by others could cause substantial loss to the Company. The Employee and the Company also recognize that an important part of the Employee's duties will be to develop good will for the Company and its affiliates through his personal contact with customers, agents and others having business relationships with the Company and its affiliates, and that there is a danger that this good will, a proprietary asset of the Company and its affiliates, may follow the Employee if and when his relationship with the Company is terminated. Employee acknowledges that his services to be xxxxxxxx xx xx rendered hereunder have a unique value to the Company, for the loss of which the Company cannot be adequately compensated by damages in an action at law. In view of the unique value to the Company of the services of Employee, and because of the Confidential Information to be obtained by or disclosed to Employee, and as a material inducement to the Company to enter into this Employment Agreement and to pay to Employee the compensation referred to in Paragraph 4 hereof, Employee covenants and agrees that: