Common use of Obligation Not to Compete Clause in Contracts

Obligation Not to Compete. Employee hereby agrees that while he is employed by Company (the "Restricted Period"), Employee shall within the territory of the United States not engage in or provide services to any business that is competitive with or detrimental to any present or contemplated business of Company known to Employee. Employee also agrees that, during the Restricted Period, he shall not in any manner attempt to induce or assist others to attempt to induce any customer or client of Company to terminate his association with Company, nor do anything directly or indirectly to interfere with the relationship between Company and any such persons or concerns in the territory of the United States. Each of the following activities shall, without limitation, be deemed to constitute engaging in business within the meaning of Section 3 and 4: to engage in, work with, have an interest or concern in, advise, lend money to, guarantee the debts or obligations of, or permit one's name or any party thereof to be used in connection with, an enterprise of endeavor, either individually, in partnership or in conjunction with any person or persons, firms, associations, companies or corporations, whether as a principal, agent, shareholder, employee, officer, director, partner, consultant or in any other manner whatsoever; provided, however, that Employee shall retain the right to invest in or have an interest in entities traded on any public market or offered by any national brokerage house, provided that said interest does not exceed ten percent (10%) of the voting control of said entity. In addition, Employee may make passive investments in privately held entities that are determined by the Board of Directors of Company not to be competitors of Company. Company may elect to extend the term of this non-competition clause for a maximum period of six months following the termination according to Section 8.1. (b) and 8.1. (c) provided that a monthly fee in the amount of the last applicable monthly base salary is paid to Employee.

Appears in 2 contracts

Samples: Employment Agreement (Ameriquest Technologies Inc), Employment Agreement (Ameriquest Technologies Inc)

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Obligation Not to Compete. Employee hereby agrees that while he is ------------------------- employed by Company (the "Restricted Period"), Employee shall within the territory of the United States not engage in or ----------------- provide services to any business outside of the Computer 2000 group of companies that is competitive with or detrimental to any present or contemplated business of the Company known to Employee. Employee also agrees that, during the Restricted Period, he shall not in any manner attempt to induce or assist others to attempt to induce any customer or client of Company to terminate his association with Company, nor do anything directly or indirectly to interfere with the relationship between Company and any such persons or concerns in the territory of the United Statesconcerns. Each of the following activities shall, without limitation, be deemed to constitute engaging in business within the meaning of this Section 3 and 43: to engage in, work with, have an interest or concern in, advise, lend money to, guarantee the debts or obligations of, or permit one's name or any party thereof to be used in connection with, an enterprise of or endeavor, either individually, in partnership partnership, or in conjunction with any person or persons, firms, associations, companies companies, or corporations, whether as a principal, agent, shareholder, employee, officer, director, partner, consultant or in any other manner whatsoever; provided, -------- however, that Employee shall retain the right to invest in or have an interest ------- in entities traded on any public market or offered by any national brokerage house, provided that said interest does not exceed ten one percent (101%) of the voting control of said entity. In addition, Employee may make passive investments in privately held entities that are determined by the Board of Directors of Company not to be competitors of Company. Company may elect to extend the term of this non-competition clause for a maximum period of six months following the termination according to Section 8.1. (b) and 8.1. (c) provided that a monthly fee in the amount of the last applicable monthly base salary is paid to Employee.

Appears in 1 contract

Samples: Employment Agreement (Ameriquest Technologies Inc)

Obligation Not to Compete. Employee hereby agrees that while he ------------------------- is employed by Company (the "Restricted Period"), Employee shall within the territory of the United States not engage in ----------------- or provide services to any business that is competitive with or detrimental to any present or contemplated business of Company known to Employee. Employee also agrees that, during the Restricted Period, he shall not in any manner attempt to induce or assist others to attempt to induce any customer or client of Company to terminate his association with Company, nor do anything directly or indirectly to interfere with the relationship between Company and any such persons or concerns in the territory of the United Statesconcerns. Each of the following activities shall, without limitation, be deemed to constitute engaging in business within the meaning of this Section 3 and 43: to engage in, work with, have an interest or concern in, advise, lend money to, guarantee the debts or obligations of, or permit one's name or any party thereof to be used in connection with, an enterprise of or endeavor, either individually, in partnership partnership, or in conjunction with any person or persons, firms, associations, companies companies, or corporations, whether as a principal, agent, shareholder, 1 employee, officer, director, partner, consultant or in any other manner whatsoever; provided, however, that Employee shall retain the right to -------- ------- invest in or have an interest in entities traded on any public market or offered by any national brokerage house, provided that said interest does not exceed ten one percent (101%) of the voting control of said entity. In addition, Employee may make passive investments in privately held entities that are determined by the Board of Directors of Company not to be competitors of Company. Company may elect to extend the term of this non-competition clause for a maximum period of six months following the termination according to Section 8.1. (b) and 8.1. (c) provided that a monthly fee in the amount of the last applicable monthly base salary is paid to Employee.

Appears in 1 contract

Samples: Employment Agreement (Ameriquest Technologies Inc)

Obligation Not to Compete. Employee hereby agrees that while he ------------------------- is employed by Company (the "Restricted Period"), Employee shall within the territory of the United States not engage in ----------------- or provide services to any business that is competitive with or detrimental to any present or contemplated business of Company known to Employee. Employee also agrees that, during the Restricted Period, he shall not in any manner attempt to induce or assist others to attempt to induce any customer or client of Company to terminate his association with Company, nor do anything directly or indirectly to interfere with the relationship between Company and any such persons or concerns in the territory of the United Statesconcerns. Each of the following activities shall, without limitation, be deemed to constitute engaging in business within the meaning of this Section 3 and 43: to engage in, work with, have an interest or concern in, advise, lend money to, guarantee the debts or obligations of, or permit one's name or any party thereof to be used in connection with, an enterprise of or endeavor, either individually, in partnership partnership, or in conjunction with any person or persons, firms, associations, companies companies, or corporations, whether as a principal, agent, shareholder, employee, officer, director, partner, consultant or in any other manner whatsoever; provided, however, that Employee shall retain the right to -------- ------- invest in or have an interest in entities traded on any public market or offered by any national brokerage house, provided that said interest does not exceed ten one percent (101%) of the voting control of said entity. In addition, Employee may make passive investments in privately held entities that are determined by the Board of Directors of Company not to be competitors of Company. Company may elect to extend the term of this non-competition clause for a maximum period of six months following the termination according to Section 8.1. (b) and 8.1. (c) provided that a monthly fee in the amount of the last applicable monthly base salary is paid to Employee.

Appears in 1 contract

Samples: Employment Agreement (Ameriquest Technologies Inc)

Obligation Not to Compete. Employee hereby agrees that while he is employed by Company (the "Restricted Period"), Employee shall within the territory of the United States not engage in or provide services to any business that is competitive with or detrimental to any present or contemplated business of Company known to Employee. Employee also agrees that, during the Restricted Period, he shall not in any manner attempt to induce or assist others to attempt to induce any customer or client of Company to terminate his association with Company, nor do anything directly or indirectly to interfere with the relationship between Company and any such persons or concerns in the territory of the United States. Each of the following activities shall, without limitation, be deemed to constitute engaging in business within the meaning of Section 3 and 4this Section: to engage in, work with, have an interest or concern in, advise, lend money to, guarantee the debts or obligations of, of or permit one's name or any party thereof to be used in connection with, an enterprise of or endeavor, either individually, in partnership partnership, or in conjunction with any person or persons, firms, associations, companies companies, or corporations, whether as a principal, agent, shareholder, employee, officer, director, partner, consultant or in any other manner whatsoever; , provided, however, that Employee shall retain the right to invest in or have an interest in entities traded on any public market or offered by any national brokerage house, provided that said interest does not exceed ten one percent (101%) of the voting control of said entity. In addition, Employee may make passive investments in privately held entities that are determined by the Board of Directors of Company not to be competitors of Company. Company may elect to extend the term of this non-competition clause for a maximum period of six months month following the termination according to Section 8.1. (b7.1.(b) and 8.1. (c7.1(c) provided that a monthly fee in the amount of the last applicable monthly base salary is paid to Employee.

Appears in 1 contract

Samples: Employment Agreement (Ameriquest Technologies Inc)

Obligation Not to Compete. Employee acknowledges the highly confidential nature of information regarding the Company's businesses, customers, suppliers, employees, agents, independent contractors and consultants. Employee hereby agrees that (a) while he is employed by the Company or is receiving pay pursuant to Section 6.1 of this Agreement and (b) during the one (1) year period following his termination of employment with the Company pursuant to Section 6.1 (b) or (d) (the "Restricted Period"), Employee shall within the territory of the United States not engage in, assist others in engaging in or provide services to any organization, proprietorship or entity that engages in or proposes to engage in any business in which the Company or its affiliates is actively engaged or is actively considering engagement at the time of termination of Employee's employment. Examples of specific businesses currently considered to be competitive include, but are not limited to, any organization or subsidiary, affiliate or group within such organization, that is competitive with directed or detrimental targeted to a primarily female demographic, including but not limited to, Oxygen Media, Hearst Inc. or any present woman's portal or contemplated business other similar organizations, whether currently existing or as may be formed after execution of Company known this Agreement and regardless of the medium of distribution ("Competitive Business"); provided, however, that in the event of Employee's termination of employment pursuant to EmployeeSections 6.1(a) and (d) only, the term "Competitive Business" shall only apply to Oxygen Media or Xxxxx.xxx Networks. Employee also agrees that, during the Restricted Period, he shall not in any manner attempt to induce directly or assist others to attempt to induce indirectly, solicit, or encourage any customer customer, distributor, supplier, employee, agent, independent contractor, consultant or client of Company any other person or company to terminate his association with Company, nor do anything directly or indirectly to interfere alter its relationship with the relationship between Company and any such persons or concerns in the territory of the United Statesits affiliates. Each of the following activities shall, without limitation, be deemed to constitute engaging in business within violate the meaning provisions of this Section 3 and 45: to engage in, work with, have an interest or concern in, advise, lend money to, guarantee the debts or obligations of, or permit one's name or any party part thereof to be used in connection with, an enterprise of or endeavor, either individually, in partnership partnership, or in conjunction with any person or persons, firms, associations, companies companies, or corporations, whether as a principal, agent, shareholder, employee, officer, director, partner, consultant or in any other manner whatsoever, which engages in a Competitive Business; provided, however, that (i) Employee and/or his affiliates shall retain the right to invest in or have an interest in entities traded on any public market or offered by any national brokerage house, provided that said interest does not exceed ten five percent (105%) of the voting control of said entity. In additionentity and (ii) the Company and Employee acknowledge that the Employee and/or his affiliates currently have investments in, Employee may make passive investments in privately held entities that are determined by consultancies with and/or serve on the Board of Directors of Company not to be competitors of Company. Company (and may elect to extend retain such positions), the term of this non-competition clause for a maximum period of six months following the termination according to Section 8.1. (b) and 8.1. (c) provided that a monthly fee in the amount of the last applicable monthly base salary is paid to Employeeentities listed on Exhibit B attached hereto.

Appears in 1 contract

Samples: Employment Agreement (Ivillage Inc)

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Obligation Not to Compete. Employee hereby agrees that while he is employed by Company (the "Restricted Period"), Employee shall within the territory of the United States not engage in or provide services to any business that is competitive with or detrimental to any present or contemplated business of Company known to Employee. Employee also agrees that, during the Restricted Period, he shall not in any manner attempt to induce or assist others to attempt to induce any customer or client of Company to terminate his association with Company, nor do anything directly or indirectly to interfere with the relationship between Company and any such persons or concerns in the territory of the United States. Each of the following activities shall, without limitation, be deemed to constitute engaging in business within the meaning of Section 3 and 4this Section: to engage in, work with, have an interest or concern in, advise, lend money to, guarantee the debts or obligations of, or permit one's name or any party thereof to be used in connection with, an enterprise of or endeavor, either individually, in partnership partnership, or in conjunction with any person or persons, firms, associations, companies companies, or corporations, whether as a principal, agent, shareholder, . employee, officer, director, partner, consultant or in any other manner whatsoever; provided, however, that Employee shall retain the right to invest in or have an interest in entities traded on any public market or offered by any national brokerage house, provided that said interest does not exceed ten one percent (101%) of the voting control of said entity. In addition, Employee may make passive investments in privately held entities that are determined by the Board of Directors of Company not to be competitors of Company. Company may elect to extend the term of this non-competition clause for a maximum period of six months month following the termination according to Section 8.1. (b) and 8.1. (c8.1.(b)and 8.1(c) provided that a monthly fee in the amount of the last applicable monthly base salary is paid to Employee.

Appears in 1 contract

Samples: Employment Agreement (Ameriquest Technologies Inc)

Obligation Not to Compete. Employee hereby agrees that (a) while he is ------------------------- employed by the Company and (b) during any additional period, not to extend beyond two (2) years after the Effective Date, during which the Company pays Employee his salary under Section 6.1 below whether or not other provisions of this Agreement may have been terminated, (the "Restricted Period"), Employee ----------------- shall within the territory of the United States not engage in or provide services to any business that is competitive with or detrimental to any present or contemplated business of the Company known to EmployeeEmployee in any geographic area where the Company engages in its business or maintains sales or service representatives or employees. Employee also agrees that, during the Restricted Period, he shall not in any manner attempt to induce or assist others to attempt to induce any customer or client of the Company to terminate his association with the Company, nor do anything directly or indirectly to interfere with the relationship between the Company and any such persons or concerns in the territory of the United Statesconcerns. Each of the following activities shall, without limitation, be deemed to constitute engaging in business within the meaning of this Section 3 and 4: to engage in, work with, have an interest or concern in, advise, lend money to, guarantee the debts or obligations of, or permit one's name or any party thereof to be used in connection with, an enterprise of or endeavor, either individually, in partnership partnership, or in conjunction with any person or persons, firms, associations, companies companies, or corporations, whether as a principal, agent, shareholder, employee, officer, director, partner, consultant or in any other manner whatsoever; provided, however, that Employee shall retain -------- ------- the right to invest in or have an interest in entities traded on any public market or offered by any national brokerage house, provided that said interest does not exceed ten one percent (101%) of the voting control of said entity. In addition, Employee may make passive investments in privately held entities that are determined by the Board of Directors of Company not to be competitors of Company. Company may elect to extend the term of this non-competition clause for a maximum period of six months following the termination according to Section 8.1. (b) and 8.1. (c) provided that a monthly fee in the amount of the last applicable monthly base salary is paid to Employee.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Cooper & Chyan Technology Inc)

Obligation Not to Compete. Employee Executive hereby agrees that (a) while he is employed by Company and (b) for a period of one (1) year following the earlier of (i) the fifth (5th) anniversary of the Effective Date or (ii) the date Executive's employment is terminated as set forth in Section 7 hereunder (the "Restricted PeriodRESTRICTED PERIOD"), Employee Executive shall within the territory of the United States not engage in or provide services to any business that is competitive with or detrimental to any present or contemplated business of Company or Parent known to Employee. Employee also agrees that, during the Restricted Period, he shall not Executive in any manner attempt to induce geographic area where Company or assist others to attempt to induce any customer Parent engages in such business or client of Company to terminate his association with maintains sales or service representatives or employees at the time Executive separates from Company, nor do anything directly or indirectly to interfere with the relationship between Company and any such persons or concerns in the territory of the United States. Each of the following activities shall, without limitation, be deemed to constitute engaging in business within the meaning of this Section 3 and 43: to engage in, work with, have an interest or concern in, advise, lend money to, guarantee the debts or obligations of, or permit one's name or any party thereof to be used in connection with, an enterprise of or endeavor, either individually, in partnership partnership, or in conjunction with any person or persons, firms, associations, companies companies, or corporations, whether as a principal, agent, shareholder, employee, officer, director, partner, consultant or in any other manner whatsoever; provided, howeverPROVIDED HOWEVER, that Employee Executive shall retain the right to invest in or have an interest in entities securities traded on any public market national stock exchange or offered by any national brokerage houserecognized over-the-counter market, provided that said if such interest does not exceed ten two percent (102%) of the voting control of said entitysuch entity if an equity interest and in any case any traded debt. In addition, Employee Executive may make passive investments in privately held entities that are determined by the Company Board of Directors of Company or Parent CEO not to be competitors of Company or Parent. Executive also agrees that he shall not in any manner attempt to induce or assist others to attempt to induce any customer or client of Company or Parent to terminate association with Company or Parent, nor do anything directly or indirectly to interfere with the relationship between Company or Parent and any such persons or concerns through the Restricted Period. Executive is privy to trade secrets and confidential proprietary information of Company. Company may elect , and hereby agrees that this clause is necessary to extend the term of this non-competition clause for a maximum period of six months following the termination according to Section 8.1. (b) and 8.1. (c) provided protect that a monthly fee in the amount of the last applicable monthly base salary is paid to Employeeinformation from willful or inevitable disclosure, among other reasons.

Appears in 1 contract

Samples: Employment Agreement (Advanced Energy Industries Inc)

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