Common use of Further Obligations of the Executive Clause in Contracts

Further Obligations of the Executive. The Executive agrees that, in the event of any Covered Termination where the Executive is entitled to and receives Accrued Benefits and the Termination Payment, the Executive shall not, for a period of one year after the Termination Date, without the prior written approval of the Company's Board of Directors, participate in the management of, be employed by or own any business enterprise at a location within the United States that engages in substantial competition with the Company or its subsidiaries, where such enterprise's revenues from any competitive activities amount to 40% or more of such enterprise's net revenues and sales for its most recently completed fiscal year. However, nothing in this Section 14 shall prohibit the Executive from owning stock or other securities of a competitor amounting to less than five percent of the outstanding capital stock of such competitor. The Executive also shall perform his obligations under the "Secrecy Agreement" and the "Invention Assignment and Confidentiality Agreement" entered into by the Company and the Executive.

Further Obligations of the Executive. The Executive agrees that, in the event of any Covered Termination where the Executive is entitled to and receives Accrued Benefits and the Termination Payment, the Executive shall not, for a period of one year after the Termination Date, without the prior written approval of the Company's ’s Board of Directors, participate in the management of, be employed by or own any business enterprise at a location within the United States that engages in substantial competition with the Company or its subsidiaries, where such enterprise's ’s revenues from any competitive activities amount to 40% or more of such enterprise's ’s net revenues and sales for its most recently completed fiscal year. However, nothing in this Section 14 shall prohibit the Executive from owning stock or other securities of a competitor amounting to less than five percent of the outstanding capital stock of such competitor. The Executive also shall perform his obligations under the "“Secrecy Agreement" ” and the "“Invention Assignment and Confidentiality Agreement" ” entered into by the Company and the Executive.