Common use of Competition Following Employment Clause in Contracts

Competition Following Employment. In order to protect Employer against the unauthorized use or the disclosure of any Confidential Information of Employer and its Affiliates presently known or hereinafter obtained by Employee during his employment under this Agreement, Employee agrees that for a period equal to the greater of (i) twelve (12) months after the termination or cessation of his employment with Employer at any time and for any reason, other than cessation of his employment caused by Employer’s filing for reorganization under the bankruptcy laws of the United States, and regardless of whether any payments are made to Employee under this Agreement as a result of such termination, or (ii) the period for which any severance benefits are payable under Section 6 hereof, neither Employee nor any of his Affiliates, shall, directly or indirectly, for itself or himself or on behalf of any other corporation, person, firm, partnership, association, or any other entity (whether as an individual, agent, servant, employee, employer, officer, director, shareholder, investor, principal, consultant or in any other capacity): (i) engage or participate in any business which engages in competition with such businesses being conducted by Employer or any of its Affiliates during the term of employment anywhere in any state in the United States or in any foreign country where Employer or any of its Affiliates is engaged; or (ii) assist or finance any person or entity in any manner or in any way inconsistent with the intents and purposes of this Agreement.

Competition Following Employment. In order to protect Employer against the unauthorized use or the disclosure of any Confidential Information of Employer and its Affiliates presently known or hereinafter obtained by Employee during his employment under this Agreement, Employee agrees that for a period equal to the greater of (i) twelve six (126) months after the termination or cessation of his employment with Employer at any time and for any reason, other than cessation of his employment caused by Employer’s filing for reorganization under the bankruptcy laws of the United States, and regardless of whether any payments are made to Employee under this Agreement as a result of such termination, or (ii) the period for which any severance benefits are payable under Section 6 hereof, neither Employee nor any of his Affiliates, shall, directly or indirectly, for itself or himself or on behalf of any other corporation, person, firm, partnership, association, or any other entity (whether as an individual, agent, servant, employee, employer, officer, director, shareholder, investor, principal, consultant or in any other capacity): (i) engage or participate in any business which engages in competition with such businesses being conducted by Employer or any of its Affiliates during the term of employment anywhere in any state in the United States or in any foreign country where Employer or any of its Affiliates is engaged; or (ii) assist or finance any person or entity in any manner or in any way inconsistent with the intents and purposes of this Agreement.