Common use of Devotion Of Time To The Business Clause in Contracts

Devotion Of Time To The Business. The Employee shall devote his entire professional time and best efforts to the business of the Company and its subsidiaries, and shall not during the term of this Agreement engage in any other business activities. This Agreement shall not be construed as preventing the Employee from investing his assets in such form or manner as will not require any services on the part of the Employee for or with respect to any of the entities in which such investments are made, except as otherwise restricted pursuant to Section 7 herein. This Agreement shall not be interpreted to prohibit the Employee from making passive personal investments or conducting private business affairs if those activities do not materially interfere with the services required under this Agreement. The Employee shall not, directly or indirectly, acquire, hold, or retain any interest in any business directly competing with or similar in nature to the business of the Company or any of its subsidiaries; provided however, that the Employee's beneficial ownership of debt securities in an amount not exceeding U.S. $500,000 and/or publicly-traded equity securities in an amount not exceeding 5% of the total outstanding number of shares of the particular class of such equity securities, which are issued by any entity engaged in activities which are competitive with the business of the Company or any of its subsidiaries shall not be deemed to be a breach of any duty or obligation owed by the Employee to the Company or any of its subsidiaries hereunder.

Devotion Of Time To The Business. The Employee shall devote no less than seventy percent (70%) of his entire professional time and best efforts to the business of the Company and its subsidiaries, if any, and shall not during the term of this Agreement engage in any other business activities; provided, however, the parties acknowledge that the Employee serves as President of Communications Management, Inc. and may continue to serve in such capacity to the extent the Employee's duties in connection therewith do not materially interfere with the services required by this Agreement. This Agreement shall not be construed as preventing the Employee from investing his assets in such form or manner as will not require any services on the part of the Employee for or with respect to any of the entities in which such investments are made, except as otherwise restricted pursuant to in Section 7 herein. This Agreement shall not be interpreted to prohibit the Employee from making passive personal investments or conducting private business affairs if those activities do not materially interfere with the services required under this Agreement. The Employee shall not, directly or indirectly, acquire, hold, or retain any interest in any business directly competing with or similar in nature to the business of the Company or any of its subsidiariesEmployer; provided however, that the Employee's beneficial ownership of debt securities in an amount not exceeding U.S. $500,000 and/or publicly-traded equity securities in an amount not exceeding 5% of the total outstanding number of shares of the particular class of such equity securities, which are issued by any entity engaged in activities which are competitive with the business of the Company or any of its subsidiaries subsidiaries, if any, shall not be deemed to be a breach of any duty or obligation owed by the Employee to the Company or any of its subsidiaries subsidiaries, if any, hereunder.