Common use of No Conflicting Business Interests Clause in Contracts

No Conflicting Business Interests. During the term of Employee's employment by the Company, except on behalf of the Company, Employee shall not directly or indirectly, whether as an officer, director, stockholder, partner, proprietor, associate, representative, consultant, or in any capacity whatsoever engage in, become financially interested in, be employed by or have any business connection with any other person, corporation, firm, partnership or other entity whatsoever which were known by Employee to compete directly with the Company, throughout the world, in any line of business engaged in (or planned to be engaged in) by the Company; provided, however, that anything above to the contrary notwithstanding, Employee may own, as a passive investor, securities of any competitor corporation, so long as Employee's direct holdings in any one such corporation shall not in the aggregate constitute more than 1% of the voting stock of such corporation.