Common use of Non-solicitation of Employees, Etc Clause in Contracts

Non-solicitation of Employees, Etc. During the Restricted Period (which, for the purposes of this Section 8(c) and Section 8(d) below, shall be extended to include the maximum potential Additional Severance Period under Section 5 above (regardless of whether or not compensation is paid to the Employee with respect thereto), if prior to the commencement of such additional period at least 50% of the Company Priority Shares shall have been repurchased pursuant to Sections 6.1 - 6.3 above, the Company shall have become obligated pursuant to Section 7.1 hereof to repurchase any of such Shares remaining outstanding, and the Company shall not then be in breach of its obligations with respect to such repurchase obligation under Section 7, the Employee shall not directly or indirectly recruit, solicit, induce, or attempt to induce any of the employees or independent contractors of the Company or any of its Subsidiaries to terminate their employment or contractual relationship with the Company or such Subsidiary; and shall not assist any other Person to do so, or be a proprietor, equityholder, investor (except as a passive investor holding not more than 3% of the capital stock of a publicly held company), lender, partner, director, officer, employee, consultant, or representative of any Person who does or attempts to do so.

Appears in 5 contracts

Samples: Non Competition and Stock Repurchase Agreement (Impac Group Inc /De/), Non Competition and Stock Repurchase Agreement (Impac Group Inc /De/), Non Competition and Stock Repurchase Agreement (Impac Group Inc /De/)

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