Common use of Noncompetition During Employment Clause in Contracts

Noncompetition During Employment. During his employment, Executive shall devote his full time and efforts to the business of the Company and will not directly or indirectly, engage, individually or as an officer, director, employee, consultant, advisor, partner or co-venturer, or as a stockholder or other proprietor owning more than a five percent (5%) interest in any firm, corporation, partnership or other organization (in case of any such ownership or participation) in any enterprise or business that competes directly or indirectly with the products and/or services of the Company or the Group. Executive shall furnish to the CEO a detailed statement of any outside employment or consulting services in which Executive seeks to engage or invest, and, as from time to time requested by the CEO, resubmit for approval a detailed statement thereof. In the event the CEO determines in good faith that such violation or conflict exists, Executive shall refrain from such employment, consulting services or investment. It is intended and agreed that during the term of Executive’s employment, Executive will knowingly perform no act which may confer any competitive benefit or advantage upon any enterprise or business competing with Company or the Group.

Noncompetition During Employment. During his employment, Executive shall devote his full time and efforts to the business of the Company and will not directly or indirectly, engage, individually or as an officer, director, employee, consultant, advisor, partner or co-venturer, or as a stockholder or other proprietor owning more than a five percent (5%) interest in any firm, corporation, partnership or other organization (in case of any such ownership or participation) in any enterprise or business that competes directly or indirectly with the products and/or services of the Company or the Group. Executive shall furnish to the CEO Board a detailed statement of any outside employment or consulting services in which Executive seeks to engage or invest, and, as from time to time requested by the CEOBoard, resubmit for approval a detailed statement thereof. In the event the CEO Board determines in good faith that such violation or conflict exists, Executive shall refrain from such employment, consulting services or investment. It is intended and agreed that during the term of Executive’s employment, Executive will knowingly perform no act which may confer any competitive benefit or advantage upon any enterprise or business competing with Company or the Group.