Common use of Non-Compete Clause Clause in Contracts

Non-Compete Clause. Except as stated in the second paragraph of this subsection, Executive expressly agrees that, as consideration for the agreements of the Association contained herein and as a condition to the performance by the Association of its obligations hereunder, throughout the entire period beginning at the time of termination of employment until the final payment is made to Executive, as provided herein, he will not, without the prior written consent of the Association, engage in, become interested, directly or indirectly, as a sole proprietor, as a partner in a partnership, or as a substantial shareholder in a corporation, nor become associated with, in the capacity of an employee, director, officer, principal, agent, trustee or in any other capacity whatsoever, any enterprise conducted in any city, town or county in which the Association maintains an office at the time of Executive’s termination of employment, which enterprise is, or may deemed to be, competitive with any business carried on by the Association as of the date of the termination of Executive’s employment or his retirement. In the event Executive’s termination follows a Change in Control or other material change in the Association‘s structure or business activities, Executive shall be entitled to his Supplemental Retirement Income Benefit, whether or not he enters into an arrangement that is deemed to be competitive with Flatbush Federal Bancorp, Inc. and/or the Association.

Non-Compete Clause. Except as stated in the second paragraph of this subsection, the Executive expressly agrees that, as consideration for the agreements of the Association Company contained herein and as a condition to the performance by the Association Company of its obligations hereunder, throughout the entire period beginning at the time of termination of employment until the final payment is made to Executive, as provided herein, he will not, without the prior written consent of the AssociationCompany, engage in, become interested, directly or indirectly, as a sole proprietor, as a partner in a partnership, or as a substantial shareholder in a corporation, nor become associated with, in the capacity of an employee, director, officer, principal, agent, trustee or in any other capacity whatsoever, any enterprise conducted in any city, town or county in which the Association Company maintains an office at the time of Executive’s 's termination of employment, which enterprise is, or may deemed to be, competitive with any business carried on by the Association Company as of the date of the termination of the Executive’s 's employment or his retirement. In the event Executive’s 's termination follows a Change in Control or other material change in the Association‘s Company 's structure or business activities, Executive shall be entitled to his Supplemental Retirement Income Benefit, Benefit whether or not he enters into an arrangement that is deemed to be competitive with Flatbush Federal Bancorp, Inc. the Company and/or the AssociationBank.

Non-Compete Clause. Except as stated in the second paragraph of this subsection, Executive expressly agrees that, as consideration for the agreements of the Association contained herein and as a condition to the performance by the Association of its obligations hereunder, throughout the entire period beginning at the time of termination of employment until the final payment is made to Executive, as provided herein, he will not, without the prior written consent of the Association, engage in, become interested, directly or indirectly, as a sole proprietor, as a partner in a partnership, or as a substantial shareholder in a corporation, nor become associated with, in the capacity of an employee, director, officer, principal, agent, trustee or in any other capacity whatsoever, any enterprise conducted in any city, town or county in which the Association maintains an office at the time of Executive’s 's termination of employment, which enterprise is, or may deemed to be, competitive with any business carried on by the Association as of the date of the termination of Executive’s 's employment or his retirement. In the event Executive’s 's termination follows a Change in Control or other material change in the Association‘s Association`s structure or business activities, Executive shall be entitled to his Supplemental Retirement Income Benefit, whether or not he enters into an arrangement that is deemed to be competitive with Flatbush Federal Bancorp, Inc. and/or the Association.

Non-Compete Clause. Except as stated in the second paragraph of this ------------------- subsection, Executive expressly agrees that, as consideration for the agreements of the Association contained herein and as a condition to the performance by the Association of its obligations hereunder, throughout the entire period beginning at the time of termination of employment until the final payment is made to Executive, as provided herein, he will not, without the prior written consent of the Association, engage in, become interested, directly or indirectly, as a sole proprietor, as a partner in a partnership, or as a substantial shareholder in a corporation, nor become associated with, in the capacity of an employee, director, officer, principal, agent, trustee or in any other capacity whatsoever, any enterprise conducted in any city, town or county in which the Association maintains an office at the time of Executive’s 's termination of employment, which enterprise is, or may deemed to be, competitive with any business carried on by the Association as of the date of the termination of Executive’s 's employment or his retirement. In the event Executive’s 's termination follows a Change in Control or other material change in the Association‘s Association`s structure or business activities, Executive shall be entitled to his Supplemental Retirement Income Benefit, whether or not he enters into an arrangement that is deemed to be competitive with Flatbush Federal Bancorp, Inc. and/or the Association.