Common use of Employment with a Competing Organization Clause in Contracts

Employment with a Competing Organization. Notwithstanding the provisions of this Section 4, the Company agrees to permit the Executive to accept employment with a Competing Organization, provided that the Executive’s duties with that Competing Organization during the twelve (12) month period after termination of the Executive’s employment with the Company, either directly or indirectly, do not relate to any Competing Product or Service, and provided that the Executive shall have delivered to the Company a written statement, confirmed in writing by the Executive’s prospective employer, describing the Executive’s duties and stating that all such duties will be wholly unrelated, either directly or indirectly, to any Competing Product or Service and the Executive will not be required or asked to disclose any Confidential Information of the Company in the course of the performance of his duties. The term “wholly unrelated” shall mean among other things that the Executive will not work in, consult with, cooperate with or provide information to any person, department or business segment of the Competing Organization which is researching, acquiring, producing, distributing, providing, investigating, developing, manufacturing, marketing, supervising, licensing or commercializing any Competing Product or Service.

Employment with a Competing Organization. Notwithstanding the provisions provision of this Section 4, the Company agrees to permit the Executive to accept employment with a Competing Organization, provided that the Executive’s duties with that Competing Organization during the twelve (12) month period after termination of the Executive’s employment with the Company, either directly or indirectly, do not relate to any Competing Product or Service, and provided that the Executive shall have delivered to the Company a written statement, confirmed in writing by the Executive’s prospective employer, describing the Executive’s duties and stating that all such duties will be wholly unrelated, either directly or indirectly, to any Competing Product or Service and the Executive will not be required or asked to disclose any Confidential Information of the Company in the course of the performance of his duties. The term “wholly unrelated” shall mean among other things that the Executive will not work in, consult with, cooperate with or provide information to any person, department or business segment of the Competing Organization which is researching, acquiring, producing, distributing, providing, investigating, developing, manufacturing, marketing, supervising, licensing or commercializing any Competing Product or Service.