Common use of Non-Competition Restrictions Clause in Contracts

Non-Competition Restrictions. During the Non-Competition Period (as defined below), the Executive will not, anywhere in the Territory (as defined below), engage or participate in, directly or indirectly, alone or as principal, agent, employee, employer, consultant, investor or partner of, or assist in the management of, or provide advisory or other services to, or own any stock or any other ownership interest in, or make any financial investment in, any business or entity which is Competitive with the Company (as defined below); provided. however, that the ownership of not more than two percent (2%) of the outstanding securities of any class of securities listed on a national exchange or inter-dealer quotation system shall not constitute a violation of this Section 8(b). For purposes of this Agreement, a business or entity shall be considered “Competitive with the Company” as of any point in time during the Non-Competition Period if it competes with (A) the products then marketed or sold by the Company and/or any of its affiliated companies and as such products may be improved and/or modified, (B) the services then marketed, sold or provided by the Company and/or any of its affiliated companies and as such services may be improved and/or modified or (C) the products and/or services that the Company and/or any of its affiliated companies is then actively developing, designing, marketing, producing or supplying in the future including, without limitation, the business of providing financial products or services, including those involving or related to exchange-traded derivatives, managed futures, prime brokerage services, fixed income securities, foreign exchange, equities, over-the-counter derivatives and asset management of structured products related to the Company’s core business. For purposes of this Agreement, the “Non-Competition Period” shall mean the period commencing on the Effective Date and ending eighteen (18) months after the date of termination of the Executive’s employment with the Company, whether such termination is pursuant to this Agreement or otherwise. For purposes of this Agreement, “Territory” shall mean the States of New York and Illinois and every other State or foreign country where the Company and/or any of its affiliated companies maintains employees, owns or leases property or otherwise conducts business during the Non-Competition Period. Nothing contained herein shall preclude the Executive from performing purely legal services, if and to the extent, that performing such services would violate applicable state law.

Non-Competition Restrictions. During the Non-Competition Period (as defined below), the Executive will not, not and will not permit any of his Affiliates (as defined in the Purchase Agreement) to anywhere in the Territory (as defined below), ) engage or participate in, directly or indirectly, alone or as principal, agent, employee, employer, consultant, investor or partner of, or assist in the management of, or provide advisory or other services to, or own any stock or any other ownership interest in, or make any financial investment in, any business or entity which is Competitive with the Company (as defined below); provided. , however, that the ownership of not more than two percent (2%) of the outstanding securities of any class of securities listed on a national exchange or inter-dealer quotation system shall not constitute a violation of this Section 8(b). For purposes of this Agreement, a business or entity shall be considered “"Competitive with the Company” " as of any point in time during the Non-Competition Period if it competes with (A) the products then marketed or sold by the Company and/or any of its affiliated companies and as such products may be improved and/or modified, (B) the services then marketed, sold or provided by the Company and/or any of its affiliated companies and as such services may be improved and/or modified or (C) the products and/or services that the Company and/or any of its affiliated companies is then actively developing, designing, marketing, producing or supplying in the future including, without limitation, the business of providing financial products or services, including those involving or related to exchange-traded derivatives, managed futures, prime brokerage services, fixed income securities, foreign exchange, equities, over-the-counter derivatives and asset management of structured products related to the Company’s 's core business. For purposes of this Agreement, the “"Non-Competition Period” " shall mean the period commencing on the Effective Date and ending eighteen (18) months after the date of termination of the Executive’s 's employment with the Company, whether such termination is pursuant to this Agreement or otherwise. For purposes of this Agreement, “"Territory” " shall mean the States of New York and Illinois and every other State or foreign country where the Company and/or any of its affiliated companies maintains employees, owns or leases property or otherwise conducts business during the Non-Competition Period. Nothing contained herein shall preclude the Executive from performing purely legal services, if and to the extent, that performing such services would violate applicable state law.