Common use of Confidentiality and Cooperation Clause in Contracts

Confidentiality and Cooperation. The Executive shall not at any time during the term of this Agreement, or thereafter, directly or indirectly, for any reason whatsoever, communicate or disclose to any unauthorized person, firm or corporation, or use for the Executive's own account, without the prior written consent of the Board, any proprietary processes, trade secrets or other confidential data or information of the Company and its related and affiliated companies concerning their businesses or affairs, accounts, products, services or customers, it being understood, however, that the obligations of this Section shall not apply to the extent that the aforesaid matters (i) are disclosed in circumstances in which the Executive is legally required to do so, provided that the Executive gives the Company prompt written notice of receipt of notice of any legal proceedings so as the Company has the opportunity to obtain a protective order, or (ii) become known to and available for use by the public other than by the Executive's wrongful act or omission. During and after his employment, the Executive shall cooperate with the Company or its counsel in connection with any matter, investigation, proceeding or litigation regarding any matter in which the Executive was involved during his employment with the Company or to which the Executive has knowledge based on his employment with the Company.

Appears in 4 contracts

Samples: Severance Protection Agreement (Overseas Shipholding Group Inc), Severance Protection Agreement (Overseas Shipholding Group Inc), Severance Protection Agreement (Overseas Shipholding Group Inc)

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