Common use of Noncompetition by Employee Clause in Contracts

Noncompetition by Employee. During the term of this Agreement, Employee shall not, directly or indirectly, either as an employee, employer, consultant, agent, principal, partner, stockholder, corporate officer, director, or in any other individual or representative capacity, engage or participate in any business competitive with Employer or any of its affiliates; provided, however, Employee shall not be restricted by this section from owning securities of corporations listed on a national securities exchange or regularly traded by national securities dealers so long as (except with respect to Employee's ownership of securities of Employer or any successor in interest of Employer) such investment does not exceed one (1) percent of the market value of the outstanding securities of such corporation.