Common use of Competitive Business Activities Clause in Contracts

Competitive Business Activities. Without the Company’s prior written approval, during Employee’s employment and extending through any period in which Employee is receiving severance from the Company, and in any event for twelve (12) months following a termination pursuant to Section 4.1 hereof: 5.1.1 Employee shall not, either individually or on behalf of another, directly or indirectly, as employer, employee, owner, partner, stockholder, independent contractor, agent, or otherwise enter into or in any manner participate in the convenience store business in North Carolina, South Carolina, Florida, or any other state in which the Corporation owns or operates ten (10) or more convenience stores upon the date of termination of employment. Notwithstanding the foregoing, Employee’s ownership, directly or indirectly, of not more than one percent of the issued and outstanding stock of a corporation the shares of which are regularly traded on a national securities exchange or in the over-the-counter market shall not violate Section 5.1.1. 5.1.2 Employee will not directly or indirectly, request or induce any other employee of the Corporation to: (i) terminate employment with the Corporation, or (ii) accept employment with another business entity, or (iii) become engaged in the convenience store business in competition with the Corporation.

Competitive Business Activities. Without the CompanyCorporation’s prior written approval, during Employee’s employment and extending through any period in which Employee is receiving severance from for the Company, and in any event for greater of (1) twelve (12) months following a termination pursuant to Section 4.1 hereofof employment regardless of the reason for such termination or (2) Employee’s Post-Retirement Vesting Period: 5.1.1 (A) Employee shall not, either individually or on behalf of another, directly or indirectly, as employer, employee, owner, partner, stockholder, independent contractor, agent, or otherwise enter into or in any manner participate in the convenience store business in North Carolina, South Carolina, Florida, or any other state in which the Corporation owns or operates ten (10) or more convenience stores upon the date of termination of employment. Notwithstanding the foregoing, Employee’s ownership, directly or indirectly, of not more than one percent of the issued and outstanding stock of a corporation the shares of which are regularly traded on a national securities exchange or in the over-the-counter market shall not violate Section 5.1.15.1(A). 5.1.2 (B) Employee will not directly or indirectly, request or induce any other employee of the Corporation to: (i) terminate employment with the Corporation, or (ii) accept employment with another business entity, or (iii) become engaged in the convenience store business in competition with the Corporation.