Common use of Covenant Not to Compete; Nonsolicitation Clause in Contracts

Covenant Not to Compete; Nonsolicitation. Employee covenants and agrees that at all times during the period of his employment with Employer and ending one (1) year after termination of Employee's employment with Employer pursuant to which Employee is entitled to a termination payment pursuant to Section 6(A) of this Agreement, Employee shall not, directly in competition with the business of Employer or its affiliates: participate in the management of any business enterprise if such enterprise engages in substantial and direct competition with Employer (i.e. provides services or product to the same customers as the Employer) and such enterprise's sales of any product or service competitive with any product or service of Employer amounted to 25% of such enterprise's net sales for its most recently completed fiscal year and if Employer's net sales of said product or service amounted to 25% of Employer's net sales for its most recently completed fiscal year. Competition will not include (i) the mere ownership of securities in any enterprise and exercise of rights appurtenant thereto or (ii) participation in management of any enterprise or business operation thereof other than in connection with the competitive operation of such enterprise.

Covenant Not to Compete; Nonsolicitation. Employee covenants and agrees that at all times during the period of his employment with Employer and ending upon the earlier of (i) one (1) year after termination of Employee's employment with Employer pursuant to which Employee is entitled to a termination payment pursuant to Section 6(A) of this Agreement, Employee shall not, directly in competition with the business of Employer or its affiliates: participate in the management of any business enterprise if such enterprise engages in substantial and direct competition with Employer (i.e. provides services or product to the same customers as the Employer) and such enterprise's sales of any product or service competitive with any product or service of Employer amounted to 25% of such enterprise's net sales for its most recently completed fiscal year and if Employer's net sales of said product or service amounted to 25% of Employer's net sales for its most recently completed fiscal year. Competition will not include (i) the mere ownership of securities in any enterprise and exercise of rights appurtenant thereto or (ii) participation in management of any enterprise or business operation thereof other than in connection with the competitive operation of such enterprise.

Covenant Not to Compete; Nonsolicitation. Employee covenants and agrees that at all times during the period of his employment with Employer and ending one (1) year after termination of Employee's employment with Employer pursuant to which Employee is entitled to a termination payment pursuant to Section 6(A) of this Agreement, Employee shall not, directly or indirectly in competition with the business of Employer or its affiliates: participate in the management of any business enterprise if such enterprise engages in substantial and direct competition with Employer (i.e. provides services or product to the same customers as the Employer) and such enterprise's sales of any product or service competitive with any product or service of Employer amounted to 25% of such enterprise's net sales for its most recently completed fiscal year and if Employer's net sales of said product or service amounted to 25% of Employer's net sales for its most recently completed fiscal year. Competition will not include (i) the mere ownership of securities in any enterprise and exercise of rights appurtenant thereto or (ii) participation in management of any enterprise or business operation thereof other than in connection with the competitive operation of such enterprise.