Common use of No Solicitation or Competition Clause in Contracts

No Solicitation or Competition. During the effectiveness of this Agreement and for a period of one year after termination of the Executive's employment with the Company for any reason other than termination by the Company without cause or termination by the Executive for good reason, the Executive shall not, directly or indirectly, solicit, induce, encourage or attempt to influence any client, customer, employee, consultant, independent contractor, salesman or supplier of the Company to cease to do business or terminate his employment with the Company, and shall not engage in (as a principal, partner, director, officer, agent, employee, consultant or otherwise) or be financially interested in any business operating anywhere within a 50 mile radius of any of the Company's restaurant, bar and night-club units which is involved in business activities which are in competition with the business activities carried on by the Company, or being definitively planned by the Company, at the time of the termination of Executive's employment. However, nothing contained in this Section 10 shall prevent the Executive from holding for investment no more than five percent (5%) of any class of equity securities of a company whose securities are publicly traded or from engaging in any real estate-related activities that are not in competition with the business activities of the Company.