Common use of Conflicting Employment and Business Opportunities Clause in Contracts

Conflicting Employment and Business Opportunities. Executive agrees that during the Employment Period and during any period following termination of employment in which he is receiving severance pay or other compensation from the Company that: (a) he shall not directly or indirectly engage in any employment, occupation, consulting, or other business activity which the Company shall determine in good faith to be in competition with the Company or to interfere with his duties as an employee of the Company; and (b) he shall not engage in any business enterprise that would be in competition with the Company; and (c) he shall promptly disclose to the Company’s appropriate corporate officers or directors all business opportunities that are (i) presented to Executive in his capacity as an officer or employee of the Company, and (ii) of a similar nature to the type of business the Company currently engaged in or has expressed an interest in engaging in the future; and (d) he shall not usurp or take advantage of any such business opportunity without first offering such opportunity to the Company.

Conflicting Employment and Business Opportunities. Executive agrees that during the Employment Period and during any period following termination of employment in which he is receiving severance pay or other compensation from the Company that: (a) he shall not directly or indirectly engage in any employment, occupation, consulting, or other business activity which the Company shall determine in good faith to be in competition with the Company or to interfere with his duties as an employee of the Company; and (b) he shall not engage in any business enterprise that would be in competition with the Company; and (c) he shall promptly disclose to the Company’s appropriate corporate officers or directors all business opportunities that are (i) presented to Executive in his capacity as an officer or employee of the Company, and (ii) of a similar nature to the type of business the Company currently engaged in or has expressed an interest in engaging in the future; and and (d) he shall not usurp or take advantage of any such business opportunity without first offering such opportunity to the Company.