Common use of Loyalty; Noncompetition Clause in Contracts

Loyalty; Noncompetition. (a) During the period of his employment hereunder and except for illnesses, reasonable vacation periods, and reasonable leaves of absence, the Employee shall devote such adequate time, attention, skill, and efforts as are required for the faithful performance of his duties hereunder; provided, however, that the Employee may pursue personal business interests or serve on the boards of directors of, and hold any other offices or positions in, companies or organizations, which will not present any conflict of interest with the Bank or any of its subsidiaries or affiliates, or have a substantial negative effect on the performance of Employee's duties pursuant to this Agreement, or violate any applicable statute or regulation. The Employee further agrees to promptly reveal to other appropriate executives of the Bank all matters coming to his attention pertaining to the business or interest of the Bank. All data or information concerning the business activities of the Bank which the Employee acquires or has acquired in connection with or as a result of the performance of services for the Bank, whether under this agreement or prior to the effective date of this agreement, shall be kept secret and confidential by the Employee and shall be revealed only to the Bank unless otherwise consents. This covenant of confidentiality shall extend beyond the term of this Agreement and shall survive the termination of this Agreement for any reasons but shall not restrict the Employee's employment with another like firm or company so long as the confidentiality agreement is not breached. (b) Nothing contained in this Section shall be deemed to prevent or limit the Employee's right to invest in the capital stock or other securities of any business dissimilar from that of the Bank, or, solely as a passive or minority investor, in any business.

Loyalty; Noncompetition. (a) During the period of his employment hereunder and except for illnesses, reasonable vacation periods, and reasonable leaves of absence, the Employee Executive shall devote such adequate all his full business time, attention, skill, skill and efforts as are required for to the faithful performance of his duties hereunder; provided, however, from time to time, that the Employee Executive may pursue personal business interests or serve on the boards of directors of, and hold any other offices or positions in, companies or organizations, organizations which will not present any conflict of interest with the Bank or any of its subsidiaries or affiliates, or have a substantial negative effect on unfavorably affect the performance of Employee's Executive’s duties pursuant to this Agreement, or will not violate any applicable statute or regulation. The Employee further agrees “Full business time” is hereby defined as that amount of time usually devoted to promptly reveal like companies by similarly situated executive officers. During the term of his employment under this Agreement, Executive shall not engage in any business or activity contrary to other appropriate executives the business affairs or interests of the Bank all matters coming to his attention pertaining to the business or interest of the Bank. All data be gainfully employed in any other position or information concerning the business activities of the Bank which the Employee acquires job other than as provided above. (b) Executive shall not, during or has acquired in connection with or as a result of the performance of services for the Bank, whether under this agreement or prior to the effective date of this agreement, shall be kept secret and confidential by the Employee and shall be revealed only to the Bank unless otherwise consents. This covenant of confidentiality shall extend beyond after the term of this Agreement and shall survive Agreement, disclose any knowledge of the termination past, present or contemplated business of this Agreement the Bank, or of any affiliate thereof, to any person for any reasons but shall reason or purpose. Notwithstanding the foregoing, Executive may disclose any information required in writing by Federal bank regulatory agencies and may disclose to any person information regarding the Bank that is otherwise publicly available or any knowledge of banking or financial concepts or ideas that are not restrict solely and exclusively derived from the Employee's employment with another like firm or company so long as business plans and activities of the confidentiality agreement is not breachedBank. (bc) Nothing contained in this Section 8 shall be deemed to prevent or limit the Employee's Executive’s right to invest in the capital stock or other securities of any business dissimilar from that of the Bank, or, solely as a passive or minority investor, in any business.

Loyalty; Noncompetition. (a) During the period of his employment hereunder and except for illnesses, reasonable vacation periods, and reasonable leaves of absence, the Employee Executive shall devote such adequate all his full business time, attention, skill, skill and efforts as are required for to the faithful performance of his duties hereunder; provided, however, from time to time, that the Employee Executive may pursue personal business interests or serve on the boards of directors of, and hold any other offices or positions in, companies or organizations, organizations which will not present any conflict of interest with the Bank Company or any of its subsidiaries or affiliates, or have a substantial negative effect on unfavorably affect the performance of Employee's Executive’s duties pursuant to this Agreement, or will not violate any applicable statute or regulation. The Employee further agrees “Full business time” is hereby defined as that amount of time usually devoted to promptly reveal like companies by similarly situated executive officers. During the term of his employment under this Agreement, Executive shall not engage in any business or activity contrary to other appropriate executives the business affairs or interests of the Bank all matters coming to his attention pertaining to the business or interest of the Bank. All data be gainfully employed in any other position or information concerning the business activities of the Bank which the Employee acquires job other than as provided above. (b) Executive shall not, during or has acquired in connection with or as a result of the performance of services for the Bank, whether under this agreement or prior to the effective date of this agreement, shall be kept secret and confidential by the Employee and shall be revealed only to the Bank unless otherwise consents. This covenant of confidentiality shall extend beyond after the term of this Agreement and shall survive Agreement, disclose any knowledge of the termination past, present or contemplated business of this Agreement the Company, or of any affiliate thereof, to any person for any reasons but shall reason or purpose. Notwithstanding the foregoing, Executive may disclose any information required in writing by Federal bank regulatory agencies and may disclose to any person information regarding the Company that is otherwise publicly available or any knowledge of banking or financial concepts or ideas that are not restrict solely and exclusively derived from the Employee's employment with another like firm or company so long as business plans and activities of the confidentiality agreement is not breachedCompany. (bc) Nothing contained in this Section 8 shall be deemed to prevent or limit the Employee's Executive’s right to invest in the capital stock or other securities of any business dissimilar from that of the BankCompany, or, solely as a passive or minority investor, in any business.

Loyalty; Noncompetition. (a) During the period of his employment hereunder and except for illnesses, reasonable vacation periods, and reasonable leaves of absence, the Employee Executive shall devote such adequate substantially all his full business time, attention, skill, and efforts as are required for to the faithful performance of his duties hereunder; provided, however, that the Employee from time to time, Executive may pursue personal business interests or serve on the boards of directors of, and hold any other offices or positions in, companies or organizations, at the request of the Company or which will not present present, in the opinion of the Board, any conflict of interest with the Bank Company or any of its subsidiaries or affiliates, or have a substantial negative effect on nor unfavorably affect the performance of EmployeeExecutive's duties pursuant to this Agreement, or nor violate any applicable statute or regulation. The Employee further agrees "Full business time" is hereby defined as that amount of time usually devoted to promptly reveal to other appropriate executives like companies by similarly situated executive officers. During the term of his employment under this Agreement, the Bank all matters coming to his attention pertaining Executive shall not engage in any business or activity contrary to the business affairs or interest interests of the Bank. All data or information concerning the business activities of the Bank which the Employee acquires or has acquired in connection with or as a result of the performance of services for the Bank, whether under this agreement or prior to the effective date of this agreement, shall be kept secret and confidential by the Employee and shall be revealed only to the Bank unless otherwise consents. This covenant of confidentiality shall extend beyond the term of this Agreement and shall survive the termination of this Agreement for any reasons but shall not restrict the Employee's employment with another like firm or company so long as the confidentiality agreement is not breachedCompany. (b) Nothing contained in this Section Paragraph 7 shall be deemed to prevent or limit the EmployeeExecutive's right right... (i) to own and operate Sharp Management, a financial consulting business, which may include devoting a reasonable amount of the Executive's time, attention, and skill to its operations on behalf of the Company pursuant to a management services agreement between Sharp Management and the Company which provides, among other things, for the payment to the Company of all revenues of Sharp Management in excess of $70,000 per year based upon its annual federal income tax returns; or (ii) to invest in the capital stock or other securities of any business dissimilar from that of the Bank, Company or, solely as a passive or minority investor, in any business.

Loyalty; Noncompetition. (a) During the period of his her employment hereunder and except for illnesses, reasonable vacation periods, and reasonable leaves of absence, the Employee shall devote such adequate all her full business time, attention, skill, and efforts as are required for to the faithful performance of his her duties hereunder; provided, however, that the from time to time, Employee may pursue personal business interests or serve on the boards of directors of, and hold any other offices or positions in, companies or organizations, which will not present any conflict of interest with the Bank or any of its subsidiaries or affiliates, or have a substantial negative effect on unfavorably affect the performance of Employee's duties pursuant to this Agreement, or will not violate any applicable statute or regulation. The "Full business time" is hereby defined as that amount of time usually devoted to like companies by similarly situated executive officers. During the term of her employment under this Agreement, the Employee further agrees to promptly reveal to other appropriate executives of the Bank all matters coming to his attention pertaining shall not engage in any business or activity contrary to the business affairs or interest interests of the Bank. All data or information concerning the business activities of the Bank which the Employee acquires or has acquired in connection with or as a result of the performance of services for the Bank, whether under this agreement or prior to the effective date of this agreement, shall be kept secret and confidential by the Employee and shall be revealed only to the Bank unless otherwise consents. This covenant of confidentiality shall extend beyond the term of this Agreement and shall survive the termination of this Agreement for any reasons but shall not restrict the Employee's employment with another like firm or company so long as the confidentiality agreement is not breached. (b) Nothing contained in this Section shall be deemed to prevent or limit the Employee's right to invest in the capital stock or other securities of any business dissimilar from that of the Bank, or, solely as a passive or minority investor, in any business. (c) If the parties execute the "Non-Competition Addendum" attached as Exhibit "A", its provisions shall apply to the Employee subsequent to termination of her employment and shall survive termination of this Agreement (unless the parties agree in writing to an earlier expiration date of the Employee's obligations under said Non-Competition Addendum).

Loyalty; Noncompetition. (a) During the period of his employment hereunder and except for illnesses, reasonable vacation periods, and reasonable leaves of absence, the Employee Executive shall devote such adequate substantially all his full business time, attention, skill, and efforts as are required for to the faithful performance of his duties hereunder; provided, however, that the Employee from time to time, Executive may pursue personal business interests or serve on the boards of directors of, and hold any other offices or positions in, companies or organizations, at the request of the Company or which will not present present, in the opinion of the Board, any conflict of interest with the Bank Company or any of its subsidiaries or affiliates, or have a substantial negative effect on nor unfavorably affect the performance of EmployeeExecutive's duties pursuant to this Agreement, or nor violate any applicable statute or regulation. The Employee further agrees "Full business time" is hereby defined as that amount of time usually devoted to promptly reveal to other appropriate executives like companies by similarly situated executive officers. During the term of his employment under this Agreement, the Bank all matters coming to his attention pertaining Executive shall not engage in any business or activity contrary to the business affairs or interest interests of the Bank. All data or information concerning the business activities of the Bank which the Employee acquires or has acquired in connection with or as a result of the performance of services for the Bank, whether under this agreement or prior to the effective date of this agreement, shall be kept secret and confidential by the Employee and shall be revealed only to the Bank unless otherwise consents. This covenant of confidentiality shall extend beyond the term of this Agreement and shall survive the termination of this Agreement for any reasons but shall not restrict the Employee's employment with another like firm or company so long as the confidentiality agreement is not breachedCompany. (b) Nothing contained in this Section Paragraph 7 shall be deemed to prevent or limit the EmployeeExecutive's right right... (i) to invest in the capital stock or other securities of any business dissimilar from that of the Bank, Company or, solely as a passive or minority investor, in any business., or (ii) to own and operate the Sloane Organization, LLC, which may include devoting a reasonable amount of the Executive's time, attention, and skill to its operations on behalf of the Company pursuant to a management services agreement between the Company and the Sloane Organization, LLC which provides, among other things, for the payment to the Company of all revenues of the Sloane Organization in excess of $70,000 per year based upon its annual federal income tax returns. For the purpose of this clause, "revenue" shall be exclusive of fees totaling no more than $300,000 from an advisory relationship with Claridge Hotel and Casino Corp., and exclusive of any securities received in respect of the advisory relationships with said Claridge Hotel and Casino Corp or Inntraport International Corp.

Loyalty; Noncompetition. (a) During the period of his employment hereunder and except for illnesses, reasonable vacation periods, and reasonable leaves of absence, the Employee shall devote such adequate all his full business time, attention, skill, skill and efforts as are required for to the faithful performance of his duties hereunder; provided, however, from time to time, that the Employee may pursue personal business interests or serve on the boards of directors of, of and hold any other offices or positions in, companies or organizations, organizations which will not present any conflict of interest with the Bank or any of its subsidiaries or affiliates, or have a substantial negative effect on unfavorably affect the performance of the Employee's ’s duties pursuant to this Agreement, or will not violate any applicable statute or regulation. The “Full business time” is hereby defined as that amount of time usually devoted to like companies by similarly situated executive officers. During the term of his employment under this Agreement, the Employee further agrees shall not engage in any business or activity contrary to promptly reveal to other appropriate executives the business affairs or interests of the Bank all matters coming to his attention pertaining to the business or interest of the Bank. All data be gainfully employed in any other position or information concerning the business activities of the Bank which the job other than as provided above. (b) The Employee acquires shall not, during or has acquired in connection with or as a result of the performance of services for the Bank, whether under this agreement or prior to the effective date of this agreement, shall be kept secret and confidential by the Employee and shall be revealed only to the Bank unless otherwise consents. This covenant of confidentiality shall extend beyond after the term of this Agreement and shall survive Agreement, disclose any knowledge of the termination past, present or contemplated business of this Agreement the Bank or of any affiliate thereof to any person for any reasons but shall reason or purpose. Notwithstanding the foregoing, the Employee may disclose any information required in writing by Federal bank regulatory agencies and may disclose to any person information regarding the Bank that is otherwise publicly available or any knowledge of banking or financial concepts or ideas that are not restrict solely and exclusively derived from the Employee's employment with another like firm or company so long as business plans and activities of the confidentiality agreement is not breachedBank. (bc) Nothing contained in this Section 7 shall be deemed to prevent or limit the Employee's ’s right to invest in the capital stock or other securities of any business dissimilar from that of the Bank, or, solely as a passive or minority investor, in any business.

Loyalty; Noncompetition. (a) During the period of his employment hereunder and except for illnesses, reasonable vacation periods, and reasonable leaves of absence, the Employee shall devote such adequate all his full business time, attention, skill, and efforts as are required for to the faithful performance of his duties hereunder; provided, however, that the from time to time, Employee may pursue personal business interests or serve on the boards of directors of, and hold any other offices or positions in, companies or organizations, which will not present any conflict of interest with the Bank Company or any of its subsidiaries or affiliates, or have a substantial negative effect on unfavorably affect the performance of Employee's duties pursuant to this Agreement, or will not violate any applicable statute or regulation. The "Full business time" is hereby defined as that amount of time usually devoted to like companies by similarly situated executive officers. During the term of his employment under this Agreement, the Employee further agrees to promptly reveal to other appropriate executives of the Bank all matters coming to his attention pertaining shall not engage in any business or activity contrary to the business affairs or interest interests of the Bank. All data Company or information concerning the business activities of the Bank which the Employee acquires or has acquired in connection with or as a result of the performance of services for the Bank, whether under this agreement or prior to the effective date of this agreement, shall be kept secret and confidential by the Employee and shall be revealed only to the Bank unless otherwise consents. This covenant of confidentiality shall extend beyond the term of this Agreement and shall survive the termination of this Agreement for gainfully employed in any reasons but shall not restrict the Employee's employment with another like firm other position or company so long job other than as the confidentiality agreement is not breachedprovided above. (b) Nothing contained in this Section shall be deemed to prevent or limit the Employee's right to invest in the capital stock or other securities of any business dissimilar from that of the Bank, or, solely as a passive or minority investor, in any business. (c) For a period beginning with the Effective Date and ending on the date that is 12 months after the Employee's termination of employment for any reason, the Employee shall not engage in any activities, business, or enterprise which competes directly with the business of the Bank or the Company or any of their subsidiaries or affiliates in any county in which the Bank or the Company maintains a business facility, nor during such period will Employee make use of any confidential information related to the Bank or the Company, its operations or its customer base gained during the course of Employee's employment in a subsequent activity, business, or enterprise. The Employee recognizes that any breach of the restrictions set forth in this Section 8 (c) will result in irreparable injury to the Bank and the Company for which there is not an adequate monetary remedy at law, and therefore agrees that the Bank and the Company shall be entitled to injunctive relief in order to enforce the provisions hereof. In the event this Section 8 (c) shall be determined by any court of competent jurisdiction to be unenforceable in part by reason of its term or scope being too great or its coverage being too great a geographical area, it shall be in full force and effect as to that scope, period of time, or geographical area as are determined to be reasonable by the court.