Common use of Covenants Not to Compete or Solicit Clause in Contracts

Covenants Not to Compete or Solicit. In consideration for the compensation paid to Executive pursuant to Section 3 above, and as a condition to the performance by the Company of all obligations under this Agreement, Executive agrees that during the term of this Agreement and for the period of one year following the date of termination of this Agreement, Executive shall not (i) within the Territory (as defined below in this Section 7), directly or indirectly through any other person, firm or corporation compete with or be engaged in the same business or "participate in" any other business or organization which during such period competes with or is engaged in the same business as the Company; (ii) solicit (or attempt to solicit) the employment, consulting or other services of any other employee of the Company or otherwise induce (or attempt to induce) any of such employees to leave the Company's employment or to breach an employment agreement or understanding with the Company; or (iii) solicit (or attempt to solicit) business patronage from or call on any existing or prospective customer of the Company or interfere (or attempt to interfere) with any relationship between the Company and any of its existing or prospective customers. For the purpose of this Section 7, "existing or prospective customers" of the Company include all customers (A) who have purchased, or have agreed to purchase, goods or services from the Company at any time during the two years prior to the date of termination; or (B) with whom the Company has had discussions regarding a prospective sale of goods and services by the Company. For the purpose of this Section 7, the term "participate in" shall mean: directly or indirectly, for Executive's own benefit or for, with, or through any other person, firm, or corporation, own, manage, operate, control, loan money to, or participate in the ownership, management, operation, or control of, or be connected as a director, officer, employee, partner, consultant, agent, independent contractor, or otherwise with, or acquiesce in the use of Executive's name. Notwithstanding the foregoing, it shall not be a breach of the provisions of this Section 7 if, during or after the term of this Agreement, Executive is a passive investor in any publicly held entity and Executive owns 1% or less of the equity interests therein. For the purpose of this Section 7, the "Territory" means the geographic territory in which the Company has customers or sales during the term of this Agreement.

Covenants Not to Compete or Solicit. In consideration for the compensation paid to Executive pursuant to Section 3 above, and The Participant will not directly or indirectly (whether as a condition to principal, agent, independent contractor, employer, employee, investor, partner, shareholder, director or otherwise): (i) During the performance Participant’s employment with the Company, solicit business or provide products and/or services which are the same as or competitive with that solicited or provided by the Company of all obligations under this Agreementfrom any company, Executive agrees that during the term of this Agreement and for the period of one year following the date of termination of this Agreement, Executive shall not (i) within the Territory (as defined below in this Section 7), directly enterprise or indirectly through any other person, firm or corporation compete with or be engaged in the same business or "participate in" any other business or organization person which during such period competes with or is engaged in the same business as the Company; (ii) solicit (or attempt to solicit) the employment, consulting or other services of any other employee of the Company or otherwise induce (or attempt to induce) any of such employees to leave the Company's employment or to breach an employment agreement or understanding with the Company; or (iii) solicit (or attempt to solicit) business patronage from or call on any existing or prospective was a customer of the Company or interfere (or attempt to interfere) with any relationship between the Company and any of its existing or prospective customers. For the purpose of this Section 7, "existing or prospective customers" of the Company include all customers (A) who have purchased, or have agreed to purchase, goods or services from the Company at any time during the two years prior to the date of termination; or (B) Participant’s employment with whom the Company has had discussions regarding a prospective sale of goods and services by the Company. For ; (ii) During the purpose Participant’s employment with the Company, engage in any business or participate, invest or have any interest in, by way of this Section 7example but without limitation, the term "participate in" shall mean: directly or indirectly, for Executive's own benefit or for, with, or through any other person, firm, or corporation, ownsole proprietorship or business, managethat engages in any business or activity anywhere in the world, operatewhich business or activity is the same as, control, loan money similar to, or participate competitive with any business or activity now, heretofore or hereafter engaged in by the ownershipCompany; or (iii) During the Participant’s employment with the Company, management, operation, induce or control of, or be connected as a director, officer, attempt to persuade any employee, partner, consultant, agent, independent contractorsupplier or customer of the Company to terminate any similar employment, agency, supplier or otherwise withcustomer relationship with the Company in order to enter into any such relationship on behalf of any other company, enterprise or acquiesce in the use of Executive's nameperson. Notwithstanding anything contained herein to the foregoingcontrary, it (A) Participant shall not be prohibited from owning any interest in or shares of mutual or similar funds which are nationally recognized and which own equity securities of any corporation, if such securities are publicly traded and listed on any national or regional stock exchange and (B) Participant shall not be prohibited from accepting a breach position of full-time employment with any such customer of the provisions of this Section 7 ifCompany, during or after the term of this Agreement, Executive is a passive investor provided that Participant shall not engage in any publicly held entity and Executive owns 1% or less activities prohibited hereunder with respect to any other customer(s) of the equity interests therein. For the purpose of this Section 7, the "Territory" means the geographic territory in which the Company has customers or sales during the term of this AgreementCompany.

Covenants Not to Compete or Solicit. In consideration for the compensation paid to Executive pursuant to Section 3 above, and The Participant will not directly or indirectly (whether as a condition to principal, agent, independent contractor, employer, employee, investor, partner, shareholder, director or otherwise): (i) During the performance Participant’s employment with the Company and for a period of two (2) years after Participant’s Termination of Employment, solicit business or provide products and/or services which are the same as or competitive with that solicited or provided by the Company of all obligations under this Agreementfrom any company, Executive agrees that during the term of this Agreement and for the period of one year following the date of termination of this Agreement, Executive shall not (i) within the Territory (as defined below in this Section 7), directly enterprise or indirectly through any other person, firm or corporation compete with or be engaged in the same business or "participate in" any other business or organization person which during such period competes with or is engaged in the same business as the Company; (ii) solicit (or attempt to solicit) the employment, consulting or other services of any other employee of the Company or otherwise induce (or attempt to induce) any of such employees to leave the Company's employment or to breach an employment agreement or understanding with the Company; or (iii) solicit (or attempt to solicit) business patronage from or call on any existing or prospective was a customer of the Company or interfere (or attempt to interfere) with any relationship between the Company and any of its existing or prospective customers. For the purpose of this Section 7, "existing or prospective customers" of the Company include all customers (A) who have purchased, or have agreed to purchase, goods or services from the Company at any time during Participant’s employment with the two years prior to Company; (ii) During the date of termination; or (B) Participant’s employment with whom the Company has had discussions regarding and for a prospective sale period of goods and services two (2) years after Participant’s Termination of Employment, engage in any business or participate, invest or have any interest in, by the Company. For the purpose way of this Section 7example but without limitation, the term "participate in" shall mean: directly or indirectly, for Executive's own benefit or for, with, or through any other person, firm, or corporation, ownsole proprietorship or business, managethat engages in any business or activity anywhere in the world, operatewhich business or activity is the same as, control, loan money similar to, or participate competitive with any business or activity now, heretofore or hereafter engaged in by the ownershipCompany; or (iii) During the Participant’s employment with the Company and for a period of two (2) years after Participant’s Termination of Employment, management, operation, induce or control of, or be connected as a director, officer, attempt to persuade any employee, partner, consultant, agent, independent contractorsupplier or customer of the Company to terminate any similar employment, agency, supplier or otherwise withcustomer relationship with the Company in order to enter into any such relationship on behalf of any other company, enterprise or acquiesce in the use of Executive's nameperson. Notwithstanding anything contained herein to the foregoingcontrary, it (A) Participant shall not be prohibited from owning any interest in or shares of mutual or similar funds which are nationally recognized and which own equity securities of any corporation, if such securities are publicly traded and listed on any national or regional stock exchange and (B) Participant shall not be prohibited from accepting a breach position of full-time employment with any such customer of the provisions of this Section 7 ifCompany, during or after the term of this Agreement, Executive is a passive investor provided that Participant shall not engage in any publicly held entity and Executive owns 1% or less activities prohibited hereunder with respect to any other customer(s) of the equity interests therein. For the purpose of this Section 7, the "Territory" means the geographic territory in which the Company has customers or sales during the term of this AgreementCompany.

Covenants Not to Compete or Solicit. In consideration for the compensation paid to Executive pursuant to Section 3 above, and The Participant will not directly or indirectly (whether as a condition to principal, agent, independent contractor, employer, employee, investor, partner, shareholder, director or otherwise): (i) During the performance Participant’s employment with the Company and for a period of two (2) years after Participant’s Termination of Employment, solicit business or provide products and/or services which are the same as or competitive with that solicited or provided by the Company of all obligations under this Agreementfrom any company, Executive agrees that during the term of this Agreement and for the period of one year following the date of termination of this Agreement, Executive shall not (i) within the Territory (as defined below in this Section 7), directly enterprise or indirectly through any other person, firm or corporation compete with or be engaged in the same business or "participate in" any other business or organization person which during such period competes with or is engaged in the same business as the Company; (ii) solicit (or attempt to solicit) the employment, consulting or other services of any other employee of the Company or otherwise induce (or attempt to induce) any of such employees to leave the Company's employment or to breach an employment agreement or understanding with the Company; or (iii) solicit (or attempt to solicit) business patronage from or call on any existing or prospective was a customer of the Company or interfere (or attempt to interfere) with any relationship between the Company and any of its existing or prospective customers. For the purpose of this Section 7, "existing or prospective customers" of the Company include all customers (A) who have purchased, or have agreed to purchase, goods or services from the Company at any time during Participant’s employment with the two years prior to Company; (ii) During the date of termination; or (B) Participant’s employment with whom the Company has had discussions regarding and for a prospective sale period of goods and services two (2) years after Participant’s Termination of Employment, engage in any business or participate, invest or have any interest in, by the Company. For the purpose way of this Section 7example but without limitation, the term "participate in" shall mean: directly or indirectly, for Executive's own benefit or for, with, or through any other person, firm, or corporation, ownsole proprietorship or business, managethat engages in any business or activity anywhere in the world, operatewhich business or activity is the same as, control, loan money similar to, or participate competitive with any business or activity now, heretofore or hereafter engaged in by the ownershipCompany; or (iii) During the Participant’s employment with the Company and for a period of two (2) years after Participant’s Termination of Employment, management, operation, induce or control of, or be connected as a director, officer, attempt to persuade any employee, partner, consultant, agent, independent contractorsupplier or customer of the Company to terminate any similar employment, agency, supplier or otherwise withcustomer Altair Engineering Inc. - NSO Plan Form of NSO Agreement 5 relationship with the Company in order to enter into any such relationship on behalf of any other company, enterprise or acquiesce in the use of Executive's nameperson. Notwithstanding anything contained herein to the foregoingcontrary, it (A) Participant shall not be prohibited from owning any interest in or shares of mutual or similar funds which are nationally recognized and which own equity securities of any corporation, if such securities are publicly traded and listed on any national or regional stock exchange and (B) Participant shall not be prohibited from accepting a breach position of full-time employment with any such customer of the provisions of this Section 7 ifCompany, during or after the term of this Agreement, Executive is a passive investor provided that Participant shall not engage in any publicly held entity and Executive owns 1% or less activities prohibited hereunder with respect to any other customer(s) of the equity interests therein. For the purpose of this Section 7, the "Territory" means the geographic territory in which the Company has customers or sales during the term of this AgreementCompany.