Noncompetition and Nonsolicitation Covenants. Executive acknowledges that (i) the services of the Executive are of special, unique and extraordinary value to the Company and the Related Corporations and (ii) the Company's and the Related Corporations' ability to accomplish their purposes and to successfully compete in the marketplace depend substantially on the skills and expertise of the Executive. Executive acknowledges and agrees that the Company and the Related Corporations would be irreparably damaged if Executive were to not devote substantially all of his business time and efforts to the business and affairs of the Company and the Related Corporations during the Contract Term or were to provide directly or indirectly services to any Person competing directly or indirectly with the Company or any of the Related Corporations or were to engage in a similar a business other than as specifically permitted by this Section 4.02. Accordingly, in further consideration of the compensation to be paid by the Company to the Executive and to induce Providence to enter into the Purchase Agreement, Executive agrees, that from and after the date hereof and during the applicable Non-Compete Period, Executive will not, singly, jointly, or as an employee, agent or partner of any partnership or as an officer, agent, employee, director, stockholder (except of not more than one percent (1%) of the outstanding stock of any company listed on a national securities exchange or actively traded in the over the counter market) or investor in any other Person, or as a consultant, advisor, or independent contractor to any such Person, or in any other capacity, directly, indirectly or beneficially, anywhere in the world:
Appears in 5 contracts
Samples: Employment Agreement (Carrier1 International S A), Employment Agreement (Carrier1 International S A), Employment Agreement (Carrier1 International S A)
