Common use of Loyalty to the Company Clause in Contracts

Loyalty to the Company. Employee shall devote his full time, attention and efforts to the business and affairs of the Company and to the performance of his duties and responsibilities during the Term hereof. Employee shall owe his full loyalty to the Company and shall not engage in any activity or enter into any transaction that would or might constitute a conflict of interest, or the Initials: /s/ DS By: /s/ MJ -------- -------- Employee Company AS EMPLOYMENT AGREEMENT appearance thereof, with the duties and loyalties owed by him to the Company. Without limiting the foregoing, Employee agrees that during the Term of this Agreement, Employee will not engage in any business activity other than those duties described in this Agreement, whether or not such business is pursued for gain or profit or other pecuniary advantage. However, Employee may invest his assets in such form or manner as will not require his services in the operation of the affairs of the company in which such investments are made, provided that such investments are not wholly or in part based upon confidential information obtained in his employment with the Company or association with the Parent Company. If any such investment is contemplated to be made with a competitor of the Company or Parent Company, the specific nature and amount of the investment shall be disclosed to the Parent Company in writing prior to such investment and such investment may not be made without the prior approval in writing of the Board of Directors of the Parent Company.

Loyalty to the Company. Employee shall devote his full time, attention and efforts to the business and affairs of the Company and to the performance of his duties and responsibilities during the Term hereof. hereof Employee shall owe his full loyalty to the Company and shall not engage in any activity or enter into any transaction that would or might constitute a conflict of interest, or the Initials: /s/ DS AS By: /s/ MJ -------- -------- Employee Company AS EMPLOYMENT AGREEMENT appearance thereof, with the duties and loyalties owed by him to the Company. Without limiting the foregoing, Employee agrees that during the Term of this Agreement, Employee will not engage in any business activity other than those duties described in this Agreement, Agreement whether or not such business is pursued for gain or profit or other pecuniary advantage. However, Employee may invest his Ins assets in such form or manner as will not require his services in the operation of the affairs of the company in which such investments are made, provided that such investments are not wholly or in part based upon confidential information obtained in his employment with the Company or association with the Parent Company. If any such investment is contemplated to be made with a competitor of the Company or Parent Company, the specific nature and amount of the investment shall be disclosed to the Parent Company in writing prior to such investment and such investment may not be made without the prior approval in writing of the Board of Directors of the Parent Company.