Common use of Obligations of Employee Clause in Contracts

Obligations of Employee. Employee acknowledges that, as a key employee, Employee will be involved, on a high level, in the development, implementation and management of the business strategies and plans of the Company. By virtue of Employee's unique and sensitive position and special background, employment of Employee by a competitor of the Company represents a serious competitive danger to the Company and the Business, and the use of Employee's talent and knowledge and information about the Company or the Business can and would constitute a valuable competitive advantage over the Company and the Business. In view of the foregoing, Employee covenants and agrees as follows. For a period of six (6) months after the date of termination of this Agreement, under any circumstances, or the end of the term of this Agreement, Employee will not engage or be engaged, in any capacity, directly or indirectly, including but not limited to as an employee, agent, consultant, Employee, executive, owner or stockholder (except as a passive investor holding less than a 1% equity interest in any enterprise the securities of which are publicly traded) in any business entity doing business within 25 miles of the Company which is engaged in competition with any business conducted by the Company on the date of termination. This Covenant Not to Compete shall survive the termination or expiration of the other provisions of this Agreement.