Competition prohibition Sample Clauses

Competition prohibition. During the first twenty (20) months of the Compensation Period, Employee agrees that he will not engage, directly or indirectly, professionally or occasionally, for his own account or the account of a third party, independently or dependently, in any other employment, occupation, consulting or other business activity competitive with or related to the current or future business of the Company, nor shall Employee acquire, obtain an equity interest in (excluding Employee’s investment in Spyrus existing as of the date of the signature of this Agreement and in any other company of which Employee currently or in the future, beneficially or of records owns, holds or controls, directly or indirectly, less than 5% of the equity or other securities, in each case, solely as a passive investment), or otherwise support, an enterprise which engages in business activity competitive with or related to the current or future business of the Company. The restriction on competition set forth in the preceding paragraph shall especially apply to the territory of Europe, the United States of America and Japan. As compensation for compliance with this restriction on competition, Employee shall receive the payments set forth in Section 4, which shall be payable as indicated therein.

Competition prohibition. 24.1 The sellers shall be obligated, each for himself, not to practice, operate, or promote any business activity, neither directly nor indirectly, that is in direct competition with the business activities conducted by the ▇▇▇▇▇▇▇▇ companies, for a period of two years starting on the effective date. In particular, the sellers shall not establish, acquire, participate in, advise, or otherwise promote any enterprises that are in competition in the above sense. The prohibition competition shall apply for the activity territory for the business activities conducted by the ▇▇▇▇▇▇▇▇ companies on the effective date. 24.2 In the event the purchase offer is accepted by BROKAT, the sellers shall be obligated, each for himself, not to practice, operate, or promote any business activity, neither directly or indirectly, that is in direct competition with the business activities conducted by the ▇▇▇▇▇▇▇▇ companies on the effective takeover date, for a period of two years starting on the effective exercise date. In particular, the sellers shall not establish, acquire, participate in, advise, nor otherwise promote any enterprises that are in competition in the above sense. The prohibition competition shall apply for the activity territory for the business activities conducted by the ▇▇▇▇▇▇▇▇ companies on the effective exercise date. 24.3 Activity for or promotion of a business activity of an enterprise controlled by BROKAT with a majority of votes or capital is not competition. 24.4 If a judgment by a court determines that the provision of this competition prohibition is invalid or unenforceable in toto or in parts, the parties are in agreement that the particular court shall have the authority to change or eliminate the scope, term, or other provisions, and to replace such invalid or unenforceable provisions with provisions that are valid and enforceable and that most closely approximate the objective pursued by the agreement from the aspect of its economic purpose. 24.5 For ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, the above competition prohibition shall apply with the proviso that, after his agreement mentioned in (S) 21 ends on the basis of circumstances for which ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ is not responsible, he shall only be subject to the competition prohibition set forth in such an agreement. 24.6 For a period of five years after the date on which this agreement is signed, the sellers and BROKAT (as long as BROKAT has not exercised the option for step II shares and has not acquired the majority o...

Competition prohibition. Without Party A’s prior written consent, Party B shall not engage in the following activities during its term of office; 1. Run alone, or participate in running a unit that has a competitive relationship with Party A or Party A’s affiliates in business; 2. Operate alone, participate in operating, or operate for others the businesses (including investment) of the same kind as those of Party A and Party A’s affiliates; 3. Operate alone, participate in operating, or operate for others the products of the same kind as those produced or operated by Party A and Party A’s affiliates; 4. Operate alone, participate in operating, or operate for others the products or services relating to the business secrets of Party A and Party A’s affiliates; 5. Rally, induce, recruit, agitate or poach, directly or indirectly, alone or together with others, Party A’s other members to leave office for the interests of the Employee itself, others or any entity.

Competition prohibition. The licensee shall be obligated not to distribute any products or cause them to be distributed by third parties and/or not to develop any products or cause them to the developed by third parties during the term of the agreement that compete with the products. In addition, the licensee shall be obligated not to develop any products or cause them to be developed by third parties within one year after the end of the agreement that compete with the products. In the event the contractual purpose is not achieved due to serious defects in the performances of inasys that result in persistent dissatisfaction of the licensee's customers, the licensee shall be entitled to commence distribution of vendors or products competing with inasys even before the end of the named period, after dissolving the agreement. A prerequisite for the competition prohibition is that inasys integrate expansion requirements, supplements, fault corrections into the products with little delay, to the extent such requirements can be shown to arise on concrete request by customers and are arranged with inasys.

Competition prohibition. 1. During the term of this contract, the General Manager shall not be permitted to work directly or indirectly, professionally or occasionally, for his own account or the account of a third party, independently or dependently, in the business sector of the Corporation; moreover, the General Manager shall not be permitted to acquire an enterprise which engages in transactions in the business sector of the Corporation or obtain an equity interest in, or otherwise support, such an enterprise. 2. The restriction on competition set forth in the preceding paragraph shall likewise apply to the territory of the Federal Republic of Germany and the United States of America for a period of 1 (one) year from the end of this employment contract. As compensation for compliance with this restriction on competition, the General Managers shall receive compensation in the amount of his basic salary set forth in Section 6 section 1, which shall be payable as indicated therein. Everything which the General Manager earns elsewhere through the exploitation of his work energy or maliciously fails to earn during the relevant time period shall be offset against this. Upon request, the General Manager shall be obligated to provide the Corporation with information concerning the amount of his earnings. Prior to the end of the employment relationship, the Corporation may waive the competition prohibition by written declaration, with the effect that the Corporation shall be free from the obligation to pay the compensation. 3. Specifically included in the business sector of the Corporation for purposes of this provision shall be the sector of personal computer memory cards, but not the activity involving Personal Computer Memory Cards Interface Association (PCMCIA).