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 Bank contained herein and as a condition to the performance by the Bank of its obligations hereunder, for eighteen (18) months following termination of Executive's employment, other than a termination of employment following a Change in Control, Executive will not, without the prior written consent of the Bank, engage in or 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 Bank 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 Bank as of the date of the termination of Executive's employment or his retirement.

Non-Compete Clause. Except as stated in the second paragraph of this subsection, Executive expressly agrees that, as consideration for the agreements of the Bank contained herein and as a condition to the performance by the Bank of its obligations hereunder, for eighteen (18) months following termination of Executive's ’s employment, other than a termination of employment following a Change in Control, Executive will not, without the prior written consent of the Bank, engage in or 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 Bank 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 Bank as of the date of the termination of Executive's ’s employment or his retirement.