Common use of Loyalty Clause in Contracts

Loyalty. (i) During the period of his employment hereunder and except for illnesses, reasonable vacation periods, and reasonable leaves of absence, the Employee shall devote all of his full business time, attention, skill and efforts to the faithful performance of his duties hereunder; provided, however, from time to time, the Employee may serve on the boards of directors of, and hold any other offices or positions in, companies or organizations. “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 shall not engage in any business or activity contrary to the business affairs or interests of the Company, or be gainfully employed in any other position or job other than as provided above. (ii) 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 Company, or, solely as a passive or minority investor, in any business.

Loyalty. (i) During the period of his her employment hereunder and except for illnesses, reasonable vacation periods, and reasonable leaves of absence, the Employee shall devote all of his her full business time, attention, skill and efforts to the faithful performance of his her duties hereunder; provided, however, from time to time, the Employee may serve on the boards of directors of, and hold any other offices or positions in, companies or organizations. “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 her employment under this Agreement, the Employee shall not engage in any business or activity contrary to the business affairs or interests of the CompanyBank, or be gainfully employed in any other position or job other than as provided above. (ii) 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 CompanyBank, or, solely as a passive or minority investor, in any business.