Common use of Duration of Covenant Clause in Contracts

Duration of Covenant. Generally, this restrictive covenant shall apply during the Initial Term and any Renewal Term and for the one-year period following the date of termination of this Agreement and any renewals thereof (or such lesser period as may be set by a court of competent jurisdiction or an arbitrator). If the Competing Business in which Employee engages or intends to engage is a business involving the development or management of an age-restricted community, however, the limitations of Section 11(a)(1) shall apply during the Initial Term, any Renewal Term and for the two-year period following the date of the termination of this Agreement and any renewals thereof (or such lesser period as may be set by a court of competent jurisdiction or an arbitrator). This Restrictive Covenant shall not apply should the Agreement terminate on or after the date on which Employee attains age 65.