Common use of Noncompetition and Related Matters Clause in Contracts

Noncompetition and Related Matters. (a) The Employee acknowledges that during the term of his employment with the Company, the Company will provide him, and he will receive from the Company, special training and knowledge. The Employee acknowledges that included in the special knowledge received is the confidential information identified in paragraph 8. The Employee acknowledges that this confidential information is valuable to the Company and, therefore, its protection and maintenance constitutes a legitimate interest to be protected by the Company by enforcement of this covenant not to compete. Therefore, the Employee agrees that, in consideration of the foregoing, during the Employment Term and for the greater of the period of time during which the Company shall pay to the Employee any amount due under the terms of this Agreement or twelve (12) months following the Employment Termination Date, unless otherwise extended pursuant to the terms of this paragraph 11, the Employee will not, directly or indirectly, either as an employee, employer, consultant, agent, principal, partner, shareholder, corporate officer, director, or in any other individual or representative capacity, engage or participate in any Competitive Business (as hereinafter defined) within any state in which the Company or any subsidiary thereof is conducting or has conducted its Competitive Business during the Employment Term; provided that nothing in this paragraph 11 shall be construed to prevent the Employee from owning beneficially, as an investment, up to an aggregate of 5% of a class of equity securities that is publicly traded and registered under Section 12 of the Securities Exchange Act of 1934. For purposes of this paragraph 11, "