Competition; Non-solicitation Sample Clauses
The Competition; Non-Solicitation clause restricts parties from engaging in activities that would compete with the other party’s business or from soliciting the other party’s employees or clients. Typically, this means that for a specified period, a party cannot start a similar business, work for a competitor, or attempt to hire away staff or lure customers from the other party. The core function of this clause is to protect business interests by preventing unfair competition and the loss of valuable relationships or proprietary information after the agreement ends.
Competition; Non-solicitation. (a) During the Term and, following any termination of Executive’s employment, for a period equal to (i) the Payment Period, in the case of a termination of employment for which payments are made pursuant to Section 6(b) hereof, or (ii) 24 months from the date of such termination in the event of a voluntary termination of employment by the Executive without Good Reason, or a termination by the Company for Cause, the Executive shall not, and shall cause each of his or her affiliates not to, anywhere in the Restricted Territory, directly or indirectly engage in any Competitive Activities. The Executive acknowledges that the Company and/or its Affiliates conducted its Business throughout the Restricted Territory and the Executive provided services to the Company and/or its Affiliates throughout the Restricted Territory. The Executive shall be deemed to be engaged in Competitive Activities if such Restricted Party or any of his or her affiliates (i) serves as a shareholder, owner, officer, director, member, manager, trustee or partner of, or consults with, advises or assists in any way, whether or not for consideration, any Competitor; or (ii) endorses the services of any Competitor, solicits customers, provides or otherwise serves as an intermediary for any such Competitor or loans money or renders any other form of financial assistance to any such Competitor.
(b) During the Term and for a period of two (2) years following any termination of the Executive’s employment, the Executive shall not, and shall cause each of his or her affiliates not to, directly or indirectly: (i) solicit or transact any business with, or assist any third party in soliciting or transacting any business with, any Persons who are, or were in the past twelve (12) months, customers or suppliers of the Business; (ii) cause any customers or suppliers referred to in clause (i) to cease doing business with or to terminate its business relationship with the Company or any of its Affiliates; or (iii) solicit for employment or hire any employees of the Company or any of its Affiliates, unless such employee’s employment has been terminated by the Parent or any of its affiliates, as the case may be, at least six (6) months before any such solicitation or hiring.
(c) In the event a court of competent jurisdiction determines that the provisions in this Section 7 are excessively broad as to duration, geographical scope or activity, it is expressly agreed that this Section 7 shall be construed so tha...
Competition; Non-solicitation. AND CONFIDENTIALITY AGREEMENT
Competition; Non-solicitation. In consideration of Employee's terms of employment under the Agreement, which include special compensation for his undertakings under this Section 13 and based on the acknowledgments set forth in Section 16 hereof, and in order to enable the Company to effectively protect its Proprietary Information and its Intellectual Property Rights and its business, Employee agrees and undertakes that he or she will not, so long as the Agreement is in effect and for a period of twelve (12) months following expiration n or termination of the Agreement, for any reason whatsoever, directly or indirectly, himself, herself or through others, for his or her account or for others, in any capacity whatsoever, engage in, become financially interested in, be employed by, or have any connection with any business or venture that is engaged in any activities competing with the activities of the Company and especially (but without limitation to the generality of the foregoing), activities utilizing, incorporating or based on technologies or processes competing with the code generator, Drag and Drop algorithms and the method of generating code from visual elements on the canvas used by the Company and/or similar mechanism and/or providing any solutions or products similar to those provided or planned by the Company.
Competition; Non-solicitation. The Executive Chairman agrees that, for the duration of this Agreement and for a period of 12 months thereafter (the “Restricted Period”), the Executive Chairman shall not, within any jurisdiction or marketing area in which the Company or any of its affiliates is doing business (the “Restricted Territory”), engage in, operate, manage, provide financing to or otherwise acquire ownership in, or serve as an officer, director, member, partner, employee, agent, consultant, advisor or representative, of a business or other entity which engages or plans to engage, within the Restricted Territory, in battery cell production or any other line of business in which the Company or any of its affiliates is engaged or has developed plans to engage, but not including wind power developments and related activities outside the battery cell business (the “Restricted Business”). The Company shall, during the 12-month period following the term of this Agreement, pay, on a monthly basis, an amount equal to the Executive Chairman’s monthly base salary (the “Non-Compete Payment”). In the event of a breach of this clause 8.1 by the Executive Chairman, the Executive Chairman will no longer be entitled to the Non-Compete Payment and agrees to immediately reimburse the Company for the Non-Compete Payment made in accordance with this clause 8.1. In the event of breach of this clause 8.1, the Company may demand that the infringement immediately ceases and may take necessary legal actions.
Competition; Non-solicitation