Noncompetition and Nonsolicitation Agreement. If this Agreement is terminated by the Company for Cause pursuant to Section 5.1(i) or by Executive for any reason other than pursuant to clauses (iii) or (iv) of Section 5.2, Executive shall not enter into an employment relationship or a consulting arrangement with any other bank, thrift, lending or financial institution which has as its primary business strategy Internet banking (hereinafter a "competitor") within one year of the anniversary of the date of such termination (the "Noncompete Period"). The obligations contained in this Section 9 shall not prohibit Executive from being an owner of not more than 5% of the outstanding stock of any class of a corporation, which is publicly traded, so long as Executive has no active participation in the business of such corporation.
Noncompetition and Nonsolicitation Agreement. If this Agreement is terminated by the Company pursuant to Section 5.1(iv), or by Executive pursuant to Section 5.2(i) or Section 5.2.1, Executive shall not enter into an employment relationship or a consulting arrangement with any other bank, thrift, lending or financial institution of any type headquartered or having a physical presence in the State of South Carolina, or any county in the States of Florida or North Carolina in which the Company or its affiliates has a physical presence or conducts business operations (hereinafter a "competitor") within three years of the date of the termination of employment (the "Noncompete Period"). The obligations contained in this Section 9 shall not prohibit Executive from being an owner of not more than 5% of the outstanding stock of any class of a corporation which is publicly traded, so long as Executive has no active participation in the business of such corporation. In the event that Executive's employment is terminated for any reason following a Change in Control (whether by the Company or Executive), it is expressly acknowledged that there shall be no limitation on any activity of Executive, including direct competition with the Company or its successor, and Company shall not be entitled to injunctive relief with respect to any such activities of Executive.
Noncompetition and Nonsolicitation Agreement. 9.1 During the term hereof and for the two year period following the date of termination of employment for any reason (the “Noncompete Period”), Executive shall not directly or indirectly enter into an employment relationship or a consulting arrangement (or other economically beneficial arrangement) with any other bank, thrift, or other lending institution, including such entities “in organization”, headquartered in any county in which the Company has material banking operations (a “Competitor”) which would both (1) involve Executive engaging in the same or substantially similar activities as those he provided to the Company at the time of his termination and (2) after a Change in Control, which would also involve Executive having significant customer oversight over any customers (if any) overseen at the time of the Change in Control. The obligations contained in this Section 9 shall not prohibit Executive from being an owner of not more than 5% of the outstanding stock of any class of a corporation which is publicly traded, so long as Executive has no active participation in the business of such corporation.
Noncompetition and Nonsolicitation Agreement. If this Agreement is terminated by the Company pursuant to Section 5.1 or by Executive pursuant to Section 5.2, Executive shall not enter into an employment relationship or a consulting arrangement with any other federally insured depository institution headquartered or having a physical presence in the states of South Carolina or North Carolina (hereinafter a "competitor") for a period of ten (10) years from the Effective Time (the "Noncompete Period"). The obligations contained in this Section 9 shall not prohibit Executive from being an owner of not more than 5% of the outstanding stock of any class of a corporation which is publicly traded, so long as Executive has no active participation in the business of such corporation.
Noncompetition and Nonsolicitation Agreement. Subject to the satisfaction of the conditions to its obligations in Article VII, below, AOL shall execute and deliver to WorldCom at Closing, without further consideration, an agreement in substantially the form attached hereto as Exhibit E (the "Noncompetition and Nonsolicitation Agreement").
Noncompetition and Nonsolicitation Agreement. 9.1 During the term hereof and for the two year period following the date of termination of employment for any reason (the “Noncompete Period”), Executive shall not directly or indirectly enter into an employment relationship or a consulting arrangement (or other economically beneficial arrangement) with any other bank, thrift or lending institution, including such entities “in organization” (a “Competitor”) which would involve Executive working in, consulting with respect to, overseeing or otherwise servicing any market area or customers over which Executive had responsibility at the time of his termination or during the two years immediately prior to such termination. The obligations contained in this Section 9 shall not prohibit Executive from being an owner of not more than 5% of the outstanding stock of any class of a corporation which is publicly traded, so long as Executive has no active participation in the business of such corporation.
Noncompetition and Nonsolicitation Agreement. Seller, on behalf of itself and each of its Affiliates, shall have executed and delivered the Noncompetition and Nonsolicitation Agreement in the form and substance attached hereto as Exhibit E, and such agreement shall be in full force and effect as of the Closing.
Noncompetition and Nonsolicitation Agreement. If this Agreement is terminated by the Company pursuant to Section 5.1(iv) or by Executive pursuant to Section 5.2(i), (ii), (iii), or 5.2.1, Executive shall not enter into an employment relationship or a consulting arrangement with any other federally insured depository institution headquartered or having a physical presence in the State of South Carolina, or any county in the States of Florida or North Carolina in which the Company or its affiliates has a physical presence or conducts business operations (hereinafter a "competitor") within five years of the date of the termination of employment or such lesser time as may be applicable under Section 5.2.1 or 5.2.3 above (the "Noncompete Period"). The obligations contained in this Section 9 shall not prohibit Executive from being an owner of not more than 5% of the outstanding stock of any class of a corporation which is publicly traded, so long as Executive has no active participation in the business of such corporation.
Noncompetition and Nonsolicitation Agreement. Each of the Seller and the Shareholder shall have executed and delivered the Noncompetition and Nonsolicitation Agreement in the form attached hereto as Exhibit 5.10.
Noncompetition and Nonsolicitation Agreement. For and in consideration of the purchase by Buyer of the Assets and the assumption of the Liabilities, the payment of the Deposit Premium and the other agreements and covenants contained in this Agreement, from the date hereof and for a period of three years following the Closing Date, none of Seller or any of its Affiliates, including its directors, will (a) (i) establish, own or operate a branch or other office within a 25-mile radius of the location of any of the Real Property located in Quincy, Illinois, or (ii) establish, own or operate a branch or other office within a 50-mile radius of the location of any of the Real Property not located in Quincy, Illinois (collectively, the “Noncompete Areas”) or (b) solicit the banking business of any current customers of the Branch Offices whose banking business or any part thereof is transferred to Buyer pursuant to the terms of this Agreement, and, for a period of four years following the Closing Date, none of Seller or any of its affiliates, including its directors, will solicit or initiate communications with any Employee for the purpose of inducing such Person to become an employee of Seller. Notwithstanding the foregoing sentence, Seller shall not be deemed to be in violation of this Section 12.16 by virtue of (v) Seller’s continued operation of its branch office located at 0 Xxxxxxxxxxxx Xxxxx, Xxxxxxxxxx, Xxxxxxxx 00000, (w) Seller’s continued operation of any Branch Office or Branch Offices located or operated on any Real Property excluded by Buyer pursuant to Section 5.9(a)(ii), Section 5.9(b)(i) or Section 5.9(b)(ii), (x) Seller’s continued banking dealings, including marketing, with current customers of the Branch Offices who also maintain accounts with Seller at other banking offices of Seller, who are identified in Schedule 12.16, (y) Seller’s advertising in publications that are normally distributed in geographic areas that include both the Noncompete Area and geographic markets served by Seller’s branches other than the Branch Offices or (z) Seller’s continued servicing of fiduciary relationships (other than ESAs, IRAs and Xxxxx Accounts) or brokerage accounts if any such account (1) is at one of the Branch Offices as of the Closing Date and (2) is maintained with Seller following the Closing Date. In the event the Seller engages in a merger or similar transaction to which it is not the successor, the agreements and covenants contained in Section 12.16(a) shall not apply to the then existing oper...
