Common use of Competition Restriction Clause in Contracts

Competition Restriction. During Officer's employment with Umpqua and its affiliates and for the period of time in which Officer is entitled to payment of the Severance Benefit or Change in Control Benefit, Officer shall not engage in any activity as an officer, director, owner (except for an ownership of less than three percent of any publicly traded security), employee, consultant, or otherwise of a financial services company (or, to Officer's knowledge, proposed to be) in competition with Umpqua or its affiliates with an office or doing business within 50 miles of any office or branch of Umpqua or of any of its subsidiaries in existence at the time of termination of Officer's employment.

Competition Restriction. During Officer's ’s employment with Umpqua and its affiliates and for a period ending on the period later of time in which Officer is entitled to payment (a) the first anniversary of the Effective Date and (b) the completion of the period, if any, during which Severance Benefit or Change in Control BenefitBenefits are to be paid under Section 9 (the “Noncompetition Period”), Officer shall not engage in any activity as an officer, director, owner (except for an ownership of less than three percent 3% of any publicly traded security), employee, consultant, or otherwise of a financial services company that is (or, to Officer's ’s knowledge, proposed to be) in competition with Umpqua or and its affiliates subsidiaries as of the date of termination of Officer’s employment with an office or doing business within 50 miles of any office or branch of Umpqua or of any of its subsidiaries in existence at the time of termination of Officer's ’s employment.

Competition Restriction. During Officer's ’s employment with Umpqua and its affiliates and for a period ending on the period later of time in which Officer is entitled to payment (a) the second anniversary of the Effective Date and (b) the completion of the period, if any, during which Severance Benefit or Change in Control BenefitBenefits are to be paid under Section 9 (the “Noncompetition Period”), Officer shall not engage in any activity as an officer, director, owner (except for an ownership of less than three percent 3% of any publicly traded security), employee, consultant, or otherwise of a financial services company that is (or, to Officer's ’s knowledge, proposed to be) in competition with Umpqua or and its affiliates subsidiaries as of the date of termination of Officer’s employment with an office or doing business within 50 miles of any office or branch of Umpqua or of any of its subsidiaries in existence at the time of termination of Officer's ’s employment.

Competition Restriction. During Officer's ’s employment with Umpqua and its affiliates and for the period of time in which Officer is entitled to payment of the Severance Benefit or Change in Control Benefit, Officer shall not engage in any activity as an officer, director, owner (except for an ownership of less than three percent (3%) of any publicly traded security), employee, consultant, or otherwise of a financial services company (or, to Officer's ’s knowledge, proposed to be) in competition with Umpqua or its affiliates with an office or doing business within 50 miles of any office or branch of Umpqua or of any of its subsidiaries in existence at the time of termination of Officer's ’s employment. Umpqua acknowledges that Officer is licensed to practice law. It shall not be a breach of this section 14 for Officer to provide legal services in the private practice of law to a Potential Competitor or in association with a firm that provides legal services to a Potential Competitor.