Common use of Loyalty and Confidentiality Clause in Contracts

Loyalty and Confidentiality. a) The Executive shall devote his or her full time and best efforts to the performance of his or her employment under this Agreement. During the term of this Agreement, the Executive shall not, at any time or place, either directly or indirectly engage in any business or activity in competition with the business affairs or interests of the Employers or be a director, officer or consultant to any bank, savings and loan association, credit union, thrift, savings bank, or similar institution in the CCMSA. b) For purposes of this Agreement, directly or indirectly engaging in any business activity in competition with the business or affairs of the Employers includes, but is not limited to, serving or acting as an owner, partner, agent, beneficiary, or employee of any person, firm or corporate entity so engaged; except that nothing herein contained shall be deemed to prevent or limit the right of Executive to invest any of his surplus funds in the capital stock or other securities of any corporation whose stock or securities are publicly owned or are regularly traded on any public exchange, nor shall anything herein contained be deemed to prevent employee from investing or limit employee's right to invest his surplus funds in real estate. c) All information relating to business of the Employers including, but not limited to, that business obtained or serviced by Executive and all customer listings, contact lists, expiration cards, asset reports, instruments, documents, papers and other material used in connection with such business, shall be the exclusive property of the Employers. Executive shall keep all such information and material confidential; none of it will be copied, reproduced or duplicated without the express written permission of the Employers, and Executive shall return all material containing such information to Employers upon their request or upon termination of employment. Executive also agrees that he or she will not utilize the confidential information or trade secrets of the Employers, either directly or indirectly, for any purposes except performance of the Executive's responsibilities and in furtherance of the Employers' business, unless otherwise expressly authorized by Employers in writing in advance. d) Executive agrees that, during his employment, and following the date of his involuntary termination of employment for Cause, or his voluntary termination without Good Reason, the Executive: i) will not, for three (3) years following the end of his employment, solicit any of the Employers' past or current customers or clients for the benefit of anyone other than Employers or their affiliates; ii) will not divulge the names of any of the Employers' past or then current customers to any other person, corporation or entity; iii) will not divulge to anyone, except the Employers or their representatives, any information regarding their management strategies, marketing information or goals, policies and/or other information regarding the affairs of the Employers, all of which Executive is hereby obligated to keep secret, however and whenever such information comes to his or her attention; and iv) will not, for three (3) years following the end of his employment, either directly or indirectly, induce or solicit any person to leave the employ of the Employers.

Loyalty and Confidentiality. a) The Executive shall devote his or her full time and best efforts to the performance of his or her employment under this Agreement. During the term of this Agreement, the Executive shall not, at any time or place, either directly or indirectly engage in any business or activity in competition with the business affairs or interests of the Employers Corporation or be a director, officer or consultant to any bank, savings and loan association, credit union, thrift, savings bank, or similar institution in the CCMSA. b) For purposes of this Agreement, directly or indirectly engaging in any business activity in competition with the business or affairs of the Employers Corporation includes, but is not limited to, serving or acting as an owner, partner, agent, beneficiary, or employee of any person, firm or corporate entity so engaged; except that nothing herein contained shall be deemed to prevent or limit the right of Executive to invest any of his surplus funds in the capital stock or other securities of any corporation whose stock or securities are publicly owned or are regularly traded on any public exchange, nor shall anything herein contained be deemed to prevent employee Executive from investing or limit employeeExecutive's right to invest his surplus funds in real estate. c) All information relating to business of the Employers including, but not limited to, that business obtained or serviced by Executive and all customer listings, contact lists, expiration cards, asset reports, instruments, documents, papers and other material used in connection with such business, shall be the exclusive property of the Employers. Executive shall keep all such information and material confidential; none of it will be copied, reproduced or duplicated without the express written permission of the Employers, and Executive shall return all material containing such information to the Employers upon their request or upon termination of employment. Executive also agrees that he or she will not utilize the confidential information or trade secrets of the Employers, either directly or indirectly, for any purposes except performance of the Executive's responsibilities and in furtherance of the Employers' business, unless otherwise expressly authorized by the Employers in writing in advance. d) Executive agrees that, during his employment, employment and following the date of his involuntary termination of employment for Cause, or his voluntary termination without Good Reason, the Executive: i) will not, for three (3) years following the end of after his employmentemployment ends, solicit any of the Employers' past or current customers or clients for the benefit of anyone other than the Employers or their affiliates; ii) will not divulge the names of any of the Employers' past or then current customers to any other person, corporation or entity; iii) will not divulge to anyone, except the Employers or their representatives, any information regarding their management strategies, marketing information or goals, policies and/or other information regarding the affairs of the EmployersEmployer, all of which Executive is hereby obligated to keep secret, however and whenever such information comes to his or her attention; and iv) will not, for three (3) years following the end of after his employmentemployment ends, either directly or indirectly, induce or solicit any person to leave the employ of the Employers.