Common use of No Competitive Activity Clause in Contracts

No Competitive Activity. Executive acknowledges and agrees that the Company is engaged in a highly competitive business in which customers are sought in the global market and that by virtue of Executive’s position and responsibilities with the Company and Executive’s access to the Confidential Information and Trade Secrets, engaging in any business which is directly competitive with the Company will cause the Company great and irreparable harm. Therefore, Executive covenants and agrees that at all times (i) during his or her period of employment with the Company, and (ii) in the event his or her employment is terminated (whether such termination is voluntary or involuntary, with Good Reason or without Good Reason, for Cause or without Cause, or otherwise), then during the period beginning on the date of termination of his or her employment and ending eighteen (18) months following his or her date of termination (“Non-Compete Period”), Executive shall not, directly or indirectly, engage in, assist, or have any active interest or involvement, in a Same or Similar Capacity (defined below) that Executive served in at the Company, whether as an employee, agent, consultant, advisor, officer, director, stockholder (excluding holding of less than 1% of the stock of a public company), partner, proprietor or any type of principal whatsoever, in any Competitive Business within the Restricted Territory.