Common use of Non-competition with the Company Clause in Contracts

Non-competition with the Company. During the Restricted Period, Participant shall not become an employee, director, or independent contractor of, or consultant to, or perform any services for, any Competitor of the Company. For purposes of this Section 8, a Competitor of the Company shall mean (i) any unit, division, line of business, parent, subsidiary or subsidiary of the parent of any of Alcon, Advanced Medical Optics, Inc., Allergan, Inc., Xxxxxxx & Xxxxxxx (provided that, with respect to Xxxxxxx & Xxxxxxx, this provision shall be limited to Xxxxxxx & Xxxxxxx businesses that are primarily engaged in the provision of ophthamological products, including, without limitation, the Vistakon Division), CIBA Vision, Xxxx Zeiss Meditec, Inc., STAAR Surgical Company, Xxxxxx Companies, Santen Pharmaceutical Co., Ltd., and ISTA Pharmaceuticals; or (ii) any individual or entity that within two years after your termination could reasonably be expected to generate more than $50 Million in annualized gross revenue from any activity that competes, or combination of activities that competes, with any business of the Company; provided, that a Competitor of the Company under this clause (ii) shall not include any individual or entity or portion of an entity where (A) Participant has actual supervisory duties and authority over one or more businesses and (B) less than 20% of the annualized gross revenue of such businesses over which Participant has actual supervisory duties and authority arise from any activity or combination of activities that competes with any business of the Company. Notwithstanding the foregoing, in the event any of the above-named entities in clause (i) of this Section 8(c) no longer engages in a line of business that competes with any business of the Company, such entity shall no longer be deemed a Competitor of the Company for purposes of this Section 8.

Appears in 2 contracts

Samples: Stock Option Grant Agreement (WP Prism Inc.), Stock Option Grant Agreement (WP Prism Inc.)

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Non-competition with the Company. During the Restricted Period, Participant shall not become an employee, director, or independent contractor of, or consultant to, or perform any services for, any Competitor of the Company. For purposes of this Section 810, a Competitor of the Company shall mean (i) any unit, division, line of business, parent, subsidiary or subsidiary of the parent of any of Alcon, Advanced Medical Optics, Inc.Inc. (now known as Xxxxxx Medical Optics), Allergan, Inc., Xxxxxxx & Xxxxxxx (provided that, with respect to Xxxxxxx & Xxxxxxx, this provision shall be limited to Xxxxxxx & Xxxxxxx businesses that are primarily engaged in the provision of ophthamological products, including, without limitation, the Vistakon Division), CIBA Vision, Xxxx Zeiss Meditec, Inc., STAAR Surgical Company, Xxxxxx Companies, Santen Pharmaceutical Co., Ltd., and ISTA Pharmaceuticals; or (ii) any individual or entity that within two years after your termination could reasonably be expected to generate more than $50 Million in annualized gross revenue from any activity that competes, or combination of activities that competes, with any business of the Company; provided, that a Competitor of the Company under this clause (ii) shall not include any individual or entity or portion of an entity where (A) Participant has actual supervisory duties and authority over one or more businesses and (B) less than 20% of the annualized gross revenue of such businesses over which Participant has actual supervisory duties and authority arise from any activity or combination of activities that competes with any business of the Company. Notwithstanding the foregoing, in the event any of the above-named entities in clause (i) of this Section 8(c10(c) no longer engages in a line of business that competes with any business of the Company, such entity shall no longer be deemed a Competitor of the Company for purposes of this Section 810.

Appears in 1 contract

Samples: Stock Option Grant Agreement (WP Prism Inc.)

Non-competition with the Company. During the Restricted Period, Participant the Grantee shall not become an employee, director, or independent contractor of, or consultant to, or perform any services for, any Competitor of the Company. For purposes of this Section 85, a Competitor of the Company shall mean (i) any unit, division, line of business, parent, subsidiary or subsidiary of the parent of any of AlconNovartis, Advanced Xxxxxx Medical Optics, Inc., Allergan, Inc., Xxxxxxx & Xxxxxxx Xxxxxxx, Xxxx Zeiss Meditec, Inc., STAAR Surgical Company, Xxxxxx Companies and Santen Pharmaceutical Co., Ltd. (provided that, with respect to Xxxxxxx & XxxxxxxXxxxxxx and Novartis, this provision shall be limited to Xxxxxxx & Xxxxxxx and Novartis businesses that are primarily engaged in the provision of ophthamological products, including, without limitation, the Vistakon Divisiondivision of Xxxxxxx & Xxxxxxx and the Alcon and CIBA Vision divisions of Novartis), CIBA Vision, Xxxx Zeiss Meditec, Inc., STAAR Surgical Company, Xxxxxx Companies, Santen Pharmaceutical Co., Ltd., and ISTA Pharmaceuticals; or (ii) any individual or entity that within two years after your termination could reasonably be expected to generate more than $50 Million in annualized gross revenue from any activity that competes, or combination of activities that competes, with any business of the Company; provided, that a Competitor of the Company under this clause (ii) shall not include any individual or entity or portion of an entity where (A) Participant the Grantee has actual supervisory duties and authority over one or more businesses and (B) less than 20% of the annualized gross revenue of such businesses over which Participant the Grantee has actual supervisory duties and authority arise from any activity or combination of activities that competes with any business of the Company. Notwithstanding the foregoing, in the event any of the above-named entities in clause (i) of this Section 8(c) 5.3 no longer engages in a line of business that competes with any business of the Company, such entity shall no longer be deemed a Competitor of the Company for purposes of this Section 85.

Appears in 1 contract

Samples: Transformation Grant Agreement (WP Prism Inc.)

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Non-competition with the Company. During the Restricted Period, Participant shall not become an employee, director, or independent contractor of, or consultant to, or perform any services for, any Competitor of the Company. For purposes of this Section 8, a Competitor of the Company shall mean (i) any unit, division, line of business, parent, subsidiary or subsidiary of the parent of any of Alcon, Advanced Medical Optics, Inc., Allergan, Inc., Xxxxxxx & Xxxxxxx (provided that, with respect to Xxxxxxx & Xxxxxxx, this provision shall be limited to Xxxxxxx & Xxxxxxx businesses that are primarily engaged in the provision of ophthamological products, including, without limitation, the Vistakon Division), CIBA Vision, Xxxx Zeiss Meditec, Inc., STAAR Surgical Company, Xxxxxx Companies, and Santen Pharmaceutical Co., Ltd., and ISTA Pharmaceuticals; or (ii) any individual or entity that within two years after your termination could reasonably be expected to generate more than $50 Million in annualized gross revenue from any activity that competes, or combination of activities that competes, with any business of the Company; provided, that a Competitor of the Company under this clause (ii) shall not include any individual or entity or portion of an entity where (A) Participant has actual supervisory duties and authority over one or more businesses and (B) less than 20% of the annualized gross revenue of such businesses over which Participant has actual supervisory duties and authority arise from any activity or combination of activities that competes with any business of the Company. Notwithstanding the foregoing, in the event any of the above-named entities in clause (i) of this Section 8(c) no longer engages in a line of business that competes with any business of the Company, such entity shall no longer be deemed a Competitor of the Company for purposes of this Section 8.

Appears in 1 contract

Samples: Stock Option Grant Agreement (WP Prism Inc.)

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