Common use of Confidential Information and Competitive Conduct Clause in Contracts

Confidential Information and Competitive Conduct. Executive shall not, to the detriment of the Company, disclose or reveal to any unauthorized person any trade secret or other confidential information relating to the Company, its subsidiaries or affiliates, or to any businesses operated by them, including, without limitation, any customer lists; and Executive confirms that such information constitutes the exclusive property of the Company. Executive shall not otherwise act or conduct himself to the material detriment of the Company, its subsidiaries or affiliates, or in a manner which is inimical or contrary to the interests thereof, and shall not, directly or indirectly, engage in, enter the employ of or render any service to any person, firm or business within the United States or Canada in competition with any part of the business being conducted by the Company; provided, however, that Executive's ownership of less than 5 percent of the outstanding stock of a corporation (other than a corporation engaged primarily in a business that directly competes with the Company) shall not by itself be deemed to constitute such competition. Executive recognizes that the possible restrictions on his activities which may occur as a result of his performance of his obligations under this Section 9(a) are required for the reasonable protection of the Company and its investments.

Confidential Information and Competitive Conduct. Executive shall not, to the detriment of the Company, disclose or reveal to any unauthorized person any trade secret or other confidential information relating to the Company, its subsidiaries or affiliates, or to any businesses operated by them, including, without limitation, any customer lists; and Executive confirms that such information constitutes the exclusive property of the Company. Executive shall not otherwise act or conduct himself herself to the material detriment of the Company, its subsidiaries or affiliates, or in a manner which is inimical or contrary to the interests thereof, and shall not, directly or indirectly, engage in, enter the employ of or render any service to any person, firm or business within the United States or Canada in competition with any part of the business being conducted by the Company; provided, however, that Executive's ownership of less than 5 percent of the outstanding stock of a corporation (other than a corporation engaged primarily in a business that directly competes with the Company) shall not by itself be deemed to constitute such competition. Executive recognizes that the possible restrictions on his her activities which may occur as a result of his her performance of his her obligations under this Section 9(a) are required for the reasonable protection of the Company and its investments.