Common use of Non-Competition After Termination Clause in Contracts

Non-Competition After Termination. In consideration of the rights and benefits hereunder, the Employee agrees that so long as he is an employee of the Company and for a period of one (1) year (the “Non-Competition Period”) after the date of termination of his employment under this Agreement, he shall not: (i) solicit or encourage any employee of the Company to leave the employment of the Company; or (ii) directly or indirectly, as owner, member, manager, partner, joint venturer, stockholder, employee, broker, agent, principal, trustee, corporate officer, director, licensor, or in any other capacity whatsoever, engage in, become financially interested in, employed by or have any connection with, any person, entity or business in the lodging or hospitality sector that is in competition with the Company’s business (a “Competing Business”), provided, however, that Employee may (i) form his own company for purposes of constructing hotels, so long as he is in compliance with the non-solicit provision contained in this Section 6.C. and (ii) own any securities of any corporation which is engaged in such business and is publicly owned and traded, but in an amount not to exceed at any one time one percent (1%) of the class of a publicly traded stock or securities of such corporation.

Non-Competition After Termination. In consideration of the rights and benefits hereunder, the Employee agrees that so long as he is an employee of the Company and for a period of one (1) year (the “Non-Competition Period”) after the date of termination of his employment under this Agreement, he shall not: (i) solicit or encourage any employee of the Company to leave the employment of the Company; or (ii) directly or indirectly, as owner, member, manager, partner, joint venturer, stockholder, employee, broker, agent, principal, trustee, corporate officer, director, licensor, or in any other capacity whatsoever, engage in, become financially interested in, employed by or have any connection with, any person, entity or business in the extended stay lodging or hospitality sector that is in competition with the Company’s business (a “Competing Business”), provided, however, that Employee may (i) form his own company for purposes of constructing or operating extended stay hotels, so long as he is in compliance with the non-solicit provision contained in this Section 6.C. and (ii) own any securities of any corporation which is engaged in such business and is publicly owned and traded, but in an amount not to exceed at any one time one percent (1%) of the class of a publicly traded stock or securities of such corporation.

Non-Competition After Termination. In consideration of the rights and benefits hereunder, the Employee agrees that so long as he is an employee of the Company and for a period of one (1) year (the “Non-Competition Period”) after the date of termination of his employment under this Agreementemployment, he shall not: (i) solicit or encourage any employee of the Company to leave the employment of the Company; or (ii) directly or indirectly, as owner, member, manager, partner, joint venturer, stockholder, employee, broker, agent, principal, trustee, corporate officer, director, licensor, or in any other capacity whatsoever, engage in, become financially interested in, employed by or have any connection with, any person, entity or business in the extended stay lodging or hospitality sector that is in competition with the Company’s business (a “Competing Business”), provided, however, that Employee may (i) form his own company for purposes of constructing or operating extended stay hotels, so long as he is in compliance with the non-solicit provision contained in this Section 6.C. and (ii) own any securities of any corporation which is engaged in such business and is publicly owned and traded, but in an amount not to exceed at any one time one percent (1%) of the class of a publicly traded stock or securities of such corporation.

Non-Competition After Termination. In consideration of the rights and benefits hereunder, the Employee agrees that so long as he is an employee of the Company and for a period of one (1) year (the “Non-Competition Period”) after the date of termination of his employment under this Agreement, he shall not: (i) solicit or encourage any employee of the Company to leave the employment of the Company; or (ii) directly or indirectly, as owner, member, manager, partner, joint venturer, stockholder, employee, broker, agent, principal, trustee, corporate officer, director, licensor, or in any other capacity whatsoever, engage in, become financially interested in, employed by or have any connection with, any person, entity or business in the lodging or hospitality sector that is in competition with the Company’s business (a “Competing Business”), provided, however, that Employee may (i) form his own company for purposes of constructing hotels, so long as he is in compliance with the non-solicit provision contained in this Section 6.C. and (ii) own any securities of any corporation which is engaged in such business and is publicly owned and traded, but in an amount not to exceed at any one time one percent (1%) of the class of a publicly traded stock or securities of such corporation. It is hereby understood and agreed that the grocery business or any segment thereof is not a Competing Business.