Common use of Covenants of Employee Clause in Contracts

Covenants of Employee. Employee specifically acknowledges the adequacy and receipt of the consideration provided to Employee for the covenants set forth below: (a) Covenant Not to Compete. Employee covenants that during the "Noncompetition Period" (as defined in Section 5(g)) and within the "Noncompetition Area" (as defined in Section 5(h)), he shall not, directly or indirectly, as principal, agent, officer, director, shareholder, member, employee, consultant, trustee or other capacity, or through the agency of any person, firm, corporation, partnership, limited liability company, association or other entity (collectively, "Entity"), engage in the "Business" (as defined in Section 5(i)). Without limiting the generality of the foregoing, Employee agrees that during the Noncompetition Period and within the Noncompetition Area, he shall not be (i) the owner of the outstanding capital stock or other equity interests of any Entity (other than Miracle or its affiliates) that, directly or indirectly, engages in the Business; or (ii) an officer, director, partner, manager, member, consultant or employee of any Entity (other than Miracle or its affiliates) that, directly or indirectly, engages in the Business; provided, that this Section 5(a) shall not prevent Employee from beneficially owning less than 1% of the stock of a corporation traded on a national securities exchange or the Nasdaq National Market.

Covenants of Employee. Employee specifically acknowledges the adequacy and receipt of the consideration provided to Employee for the covenants set forth below: (a) Covenant Not to Compete. Employee covenants that during the "Noncompetition Period" (as defined in Section 5(g)) and within the "Noncompetition Area" (as defined in Section 5(h)), he she shall not, directly or indirectly, as principal, agent, officer, director, shareholder, member, employee, consultant, trustee or other capacity, or through the agency of any person, firm, corporation, partnership, limited liability company, association or other entity (collectively, "Entity"), engage in the "Business" (as defined in Section 5(i)). Without limiting the generality of the foregoing, Employee agrees that during the Noncompetition Period and within the Noncompetition Area, he she shall not be (i) the owner of the outstanding capital stock or other equity interests of any Entity (other than Miracle or its affiliates) that, directly or indirectly, engages in the Business; or (ii) an officer, director, partner, manager, member, consultant or employee of any Entity (other than Miracle or its affiliates) that, directly or indirectly, engages in the Business; provided, that this Section 5(a) shall not prevent Employee from beneficially owning less than 1% of the stock of a corporation traded on a national securities exchange or the Nasdaq National Market.