Common use of Non-Competition Covenants Clause in Contracts

Non-Competition Covenants. Each of the Shareholders agrees that he or she shall not, directly or indirectly, for a period of two (2) years beginning on the Closing Date, engage in, or be or become the owner of an equity interest in, or otherwise consult with, be employed by, or participate in the business of, any entity (other than Buyer or the Company) engaged in the insurance agency business within the following Louisiana parishes: Acadia, Iberia, Lafayette, Lincoln, Saint Xxxxxx, Saint Xxxxxx, or Vermilion. The Shareholders acknowledge that the confidentiality and non-solicitation covenants to be contained in any employment agreements they may enter into with Buyer will be in addition to, and will not supersede or be subordinate to, the non-competition covenants contained in this Section 6.5. Notwithstanding anything in this Section 6.5, (a) the servicing by Xxxx X. Xxxxx of any insurance or bond business of any kind for those accounts or customers of Xxxxx Xxxxxxx Insurance Agency, Inc. set forth in Schedule 3.9(a)-(2) (the "Xxxxxxx Accounts") or (b) any indirect remuneration by Xxxxxx X. Xxxxx or Xxxxxxx X. Xxxxxxx in connection with the Xxxxxxx Accounts, shall not be deemed a breach of this Section 6.5.