Common use of COMPETITIVE ACTIVITY/OTHER RESTRICTIONS Clause in Contracts

COMPETITIVE ACTIVITY/OTHER RESTRICTIONS. Subject to any restrictions contained in any other agreements or arrangements with Executive, from the effective date of this Agreement and until the latest to occur of (i) the date twenty-four (24) months immediately following the termination of Executive's employment under this Agreement; (ii) the date twenty-four (24) months after Executive ceases to serve as a director of the Company; or (iii) the date that Executive no longer holds any vested and exercisable options to purchase the Company's stock under any plan of the Company, Executive agrees to the following: (a) AGREEMENT NOT TO COMPETE. Executive will not accept employment with, or act as an officer, director, consultant, contractor, representative or advisor in a capacity in which he is to perform duties in the corrosion engineering business for a competitor of the Company or any of its subsidiaries, or enter into competition with the Company or any of its subsidiaries, either by himself or through any entity owned or managed in whole or in part by him in any state, province, territory, or country in which the Company or any of its subsidiaries or its subsidiaries is conducting its corrosion engineering business. The term "competitor" as used in this paragraph, means any entity engaged in the corrosion engineering business as defined below. For purposes of entities with multiple lines of business, "competitor" shall be limited to the line or lines of business engaged in the corrosion engineering business as defined. Executive further agrees that he will not invest in or otherwise have an ownership interest in any competitor of the Company or any of its subsidiaries, with the exception that Executive may own up to a 5% interest in a publicly-traded company that may compete with the Company or any of its subsidiaries.

COMPETITIVE ACTIVITY/OTHER RESTRICTIONS. (a) Subject to any restrictions contained in any other agreements or arrangements with Executive, from the effective date of this Agreement and until the latest to occur period of (i) the date twenty-four (24) months immediately following the termination termination, for whatever reason, of Executive's employment under this Agreement; (ii) the date twenty-four (24) months after Executive ceases to serve as a director of the Company; or (iii) the date that Executive no longer holds any vested and exercisable options to purchase the Company's stock under any plan of the Company, Executive agrees to the followingagreement: (ai) AGREEMENT NOT TO COMPETEAgreement not to compete. Executive will not accept employment with, or act as an officer, director, consultant, contractor, representative or advisor in a capacity in which he is to perform duties in the corrosion engineering business for a competitor of the Company or any of its subsidiaries, or enter into competition with the Company or any of its subsidiaries, either by himself or through any entity owned or managed in whole or in part by him in any state, province, territory, or country in which the Company or any of its subsidiaries or its subsidiaries is conducting its corrosion engineering business. The term "competitor" as used in this paragraph, means any entity engaged in the corrosion engineering business as defined below. For purposes of entities with multiple lines of business, "competitor" shall be limited to the line or lines of business engaged in the corrosion engineering business as defined. Executive further agrees that for a period of twenty-four months from the Effective Date, he will not invest in or otherwise have an ownership interest in any competitor of the Company or any of its subsidiaries, with the exception that Executive may own up to a 5% interest in a publicly-traded company that may compete with the Company or any of its subsidiaries.

COMPETITIVE ACTIVITY/OTHER RESTRICTIONS. Subject to any restrictions contained in any other agreements or arrangements with Executive, from for the effective date period of this Agreement and until the latest to occur of (i) the date twenty-four (24) months immediately following the termination termination, for whatever reason, of Executive's employment under this Agreement; (ii) the date twenty-four (24) months after Executive ceases to serve as a director of with the Company; or (iii) the date that Executive no longer holds any vested and exercisable options to purchase the Company's stock under any plan of the Company, Executive agrees to the following: (ai) AGREEMENT NOT TO COMPETEAgreement not to compete. Executive will not accept employment with, or act as an officer, director, consultant, contractor, representative or advisor in a capacity in which he is to perform duties in the corrosion engineering business for a competitor of the Company or any of or its subsidiaries, or enter into competition with the Company or any of or its subsidiaries, either by himself or through any entity owned or managed in whole or in part by him in any state, province, territory, or country in which the Company or any of its subsidiaries or its subsidiaries is conducting its corrosion engineering business. The term "competitor" as used in this paragraph, means any entity engaged in the corrosion engineering business as defined below. For purposes of entities with multiple lines of business, "competitor" shall be limited to the line or lines of business engaged in the corrosion engineering business as defined. Executive further agrees that for a period of twenty-four months from the effective date of Executive's termination of employment, he will not invest in or otherwise have an ownership interest in any competitor of the Company or any of its subsidiaries, with the exception that Executive may own up to a 5% interest in a publicly-traded company that may compete with the Company or any of its subsidiaries.