No Material Competition. The Executive agrees that at no time during the Term or, for a period of one year immediately following any termination of this Agreement, other than a termination by the Executive for Good Reason (as hereinafter defined) or a termination by the Company without Cause (as hereinafter defined), will he, for himself or on behalf of any other person, persons, firm, partnership, corporation or company, engage, directly or indirectly, in any business if, within 30 days of the Executive advising the Company in writing of his proposed business activity, the Board determines in good faith that such proposed business activity is directly competitive with a material part of the business of the Company and its subsidiaries (in the aggregate) and such competitive business activity is likely to affect in an adverse manner the business, sales, profits or financial condition of the Company.
Appears in 4 contracts
Samples: Employment Agreement (Equitrac Corporation), Employment Agreement (Equitrac Corporation), Employment Agreement (Equitrac Corporation)
