Common use of Outside Activities and Board Memberships Clause in Contracts

Outside Activities and Board Memberships. During the term of this Agreement, the Executive shall not, directly or indirectly, provide services on behalf of any competitive financial institutions, any insurance company or agency, any mortgage or loan broker or any other competitive entity or on behalf of any subsidiary or affiliate of any such competitive entity, as an employee, consultant, independent contractor, agent, sole proprietor, partner, joint venturer, corporate officer or director; nor shall the Executive acquire by reason of purchase during the term of this Agreement the ownership of more than 5% of the outstanding equity interest in any such competitive entity. In addition, during the term of this Agreement, the Executive shall not, directly or indirectly, acquire a beneficial interest, or engage in any joint venture in real estate with the Bank. Subject to the foregoing, and to the Executive’s right to continue to serve as an officer and/or director or trustee of any business organization as to which he was so serving on the Effective Date of this Agreement, the Executive may serve on boards of directors of unaffiliated corporations, subject to Board approval, which shall not be unreasonably withheld, and such services shall be presumed for these purposes to be for the benefit of the Bank. Except as specifically set forth herein, the Executive may engage in personal business and investment activities, including real estate investments and personal investments in the stocks, securities and obligations of other financial institutions (or their holding companies). Notwithstanding the foregoing, in no event shall the Executive’s outside activities, services, personal business and investments materially interfere with the performance of his duties under this Agreement.

Outside Activities and Board Memberships. During the term of this Agreement, the Executive shall not, directly or indirectly, provide services on behalf of any competitive financial institutions, any insurance company or agency, any mortgage or loan broker or any other competitive entity or on behalf of any subsidiary or affiliate of any such competitive entity, as an employee, consultant, independent contractor, agent, sole proprietor, partner, joint venturer, corporate officer or director; nor shall the Executive acquire by reason of purchase during the term of this Agreement the ownership of more than 5% of the outstanding equity interest in any such competitive entity. In addition, during the term of this Agreement, the Executive shall not, directly or indirectly, acquire a beneficial interest, or engage in any joint venture in real estate with the Bank. Subject to the foregoing, and to the Executive’s 's right to continue to serve as an officer and/or director or trustee of any business organization as to which he was so serving on the Effective Date of this Agreement, the Executive may serve on boards of directors of unaffiliated corporations, subject to Board approval, which shall not be unreasonably withheld, and such services shall be presumed for these purposes to be for the benefit of the Bank. Except as specifically set forth herein, the Executive may engage in personal business and investment activities, including real estate investments and personal investments in the stocks, securities and obligations of other financial institutions (or their holding companies). Notwithstanding the foregoing, in no event shall the Executive’s 's outside activities, services, personal business and investments materially interfere with the performance of his duties under this Agreement.

Outside Activities and Board Memberships. During the term of this AgreementEmployment Period, the Executive shall not, directly or indirectly, not provide services on behalf of any competitive financial institutions, any insurance company other entity or agency, any mortgage or loan broker business that competes with the Company or any other competitive entity of its Affiliates (as defined below) (each, a “Competitive Business”), or on behalf of any subsidiary or affiliate Affiliate of any such competitive entityCompetitive Business, as an employee, consultant, independent contractor, agent, sole proprietor, partner, joint venturer, corporate officer officer, or director; nor shall the Executive acquire acquire, by reason of purchase during the term of this Agreement Employment Period, the ownership of more than 5% one percent (1%) of the outstanding equity interest in any such competitive entity. In addition, during the term of this Agreement, the Executive shall not, directly or indirectly, acquire a beneficial interest, or engage in any joint venture in real estate with the BankCompetitive Business. Subject to the foregoing, and to the Executive’s right to continue to serve as an officer and/or director or trustee of any business organization as to which he was so serving on the Effective Date of this Agreement, the Executive may serve on boards of directors of unaffiliated corporations, subject to Board approvalapproval by the Board, which shall not be unreasonably withheld, and such services shall be presumed for these purposes boards of directors of not-for-profit organizations and trade associations, subject to be for approval by the benefit of Board in accordance with the BankCompany’s policies and procedures. Except as specifically set forth herein, the Executive may engage in personal business and investment activities, including real estate investments and personal investments in the stocks, securities securities, and obligations of other financial institutions (or their holding companies). Notwithstanding the foregoing; provided, however, that in no event shall the Executive’s outside activities, services, personal business business, and investments materially interfere with the performance of his Executive’s duties under this AgreementAgreement or be permitted to create a conflict of interest (or apparent conflict of interest) with the Company. Nothing in this Section 5 shall limit any of Executive’s obligations under Section 9 hereof.

Outside Activities and Board Memberships. During the term of this Agreement, the Executive shall not, directly or indirectly, provide services on behalf of any competitive financial institutionsinstitution, any insurance company or agency, any mortgage or loan broker or any other competitive entity or on behalf of any subsidiary or affiliate of any such competitive entityentity engaged in the financial services industry, as an employee, consultant, independent contractor, agent, sole proprietor, partner, joint venturer, corporate officer or director; nor shall the Executive acquire by reason of purchase during the term of this Agreement the ownership of more than 5% of the outstanding equity interest in any such competitive entity. In addition, during the term of this Agreement, the Executive shall not, directly or indirectly, acquire a beneficial interest, or engage in any joint venture in real estate with the Bank. Subject to the foregoing, and to the Executive’s right to continue to serve as an officer and/or director or trustee of any business organization as to which he was so serving on the Effective Date of this Agreement (as described in an attachment to this Agreement or to the Prior Agreement), the Executive may serve on boards of directors of unaffiliated unaffiliated, for-profit business corporations, subject to Board approval, which shall not be unreasonably withheld, and such services shall be presumed for these purposes to be for the benefit of the BankBank and the Company. Except as specifically set forth herein, the Executive may engage in personal business and investment activities, including real estate investments and personal investments in the stocks, securities and obligations of other financial institutions (or their holding companies). Notwithstanding the foregoing, in no event shall the Executive’s outside activities, services, personal business and investments materially interfere with the performance of his duties under this Agreement.

Outside Activities and Board Memberships. During the term of this Agreement, the Executive shall not, directly or indirectly, provide services on behalf of any competitive financial institutions, any insurance company or agency, any mortgage or loan broker or any other competitive entity or on behalf of any subsidiary or affiliate of any such competitive entity, as an employee, consultant, independent contractor, agent, sole proprietor, partner, joint venturer, corporate officer or director; nor shall the Executive acquire by reason of purchase during the term of this Agreement the ownership of more than 5% of the outstanding equity interest in any such competitive entity. In addition, during the term of this Agreement, the Executive shall not, directly or indirectly, acquire a beneficial interest, or engage in any joint venture in real estate with the Bank. Subject to the foregoing, and to the Executive’s 's right to continue to serve as an officer and/or director or trustee of any business organization as to which he or she was so serving on the Effective Date effective date of this Agreement, the Executive may serve on boards of directors of unaffiliated corporations, subject to Board approval, which shall not be unreasonably withheld, and such services shall be presumed for these purposes to be for the benefit of the Bank. Except as specifically set forth herein, the Executive may engage in personal business and investment activities, including real estate investments and personal investments in the stocks, securities and obligations of other financial institutions (or their holding companies)institutions. Notwithstanding the foregoing, in no event shall the Executive’s 's outside activities, services, personal business and investments materially interfere with the performance of his or her duties under this Agreement. SECTION 7.

Outside Activities and Board Memberships. During the term of this AgreementEmployment Period, the Executive shall not, directly or indirectly, not provide services on behalf of any competitive financial institutionsinstitution or other entity or business that competes with the Company, any insurance company or agencythe Bank, any mortgage or loan broker or any other of their affiliates (each, a “competitive entity business”) or on behalf of any subsidiary or affiliate of any such competitive entitybusiness, as an employee, consultant, independent contractor, agent, sole proprietor, partner, joint venturer, corporate officer or director; nor shall the Executive acquire by reason of purchase during the term of this Agreement Employment Period the ownership of more than 5% of the outstanding equity interest in any such competitive entitybusiness. In addition, during the term of this AgreementEmployment Period, the Executive shall not, directly or indirectly, acquire a beneficial interest, or engage in any joint venture in real estate with the BankProvident. Subject to the foregoing, and to the Executive’s right to continue to serve as an officer and/or director or trustee of any business organization as to which he was so serving on the Effective Date of this Agreement, the Executive may serve on boards of directors of unaffiliated corporations, subject to Board approval, which shall not be unreasonably withheld, and such services shall be presumed for these purposes to be for the benefit of the Bank. Except as specifically set forth herein, the Executive may engage in personal business and investment activities, including real estate investments and personal investments in the stocks, securities and obligations of other financial institutions (or their holding companies). Notwithstanding the foregoing, in no event shall the Executive’s outside activities, services, personal business and investments materially interfere with the performance of his duties under this Agreement. Nothing in this Section 5 shall limit any of Executive’s obligations under Section 9 hereof.

Outside Activities and Board Memberships. During the term of this Agreement, the Executive shall not, directly or indirectly, provide services on behalf of any competitive financial institutions, any insurance company or agency, any mortgage or loan broker or any other competitive entity or on behalf of any subsidiary or affiliate of any such competitive entity, as an employee, consultant, independent contractor, agent, sole proprietor, partner, joint venturer, corporate officer or director; nor shall the Executive acquire by reason of purchase during the term of this Agreement the ownership of more than 5% of the outstanding equity interest in any such competitive entity. In addition, during the term of this Agreement, the Executive shall not, directly or indirectly, acquire a beneficial interest, or engage in any joint venture in real estate with the Bank. Subject to the foregoing, and to the Executive’s 's right to continue to serve as an officer and/or director or trustee of any business organization as to which he was so serving on the Effective Date effective date of this Agreement, the Executive may serve on boards of directors of unaffiliated corporations, subject to Board approvalapproval of the CEO, which approval shall not be unreasonably withheld, and such services shall be presumed for these purposes to be for the benefit of the Bank. Except as specifically set forth herein, the Executive may engage in personal business and investment activities, including real estate investments and personal investments in the stocks, securities and obligations of other financial institutions (or their holding companies)institutions. Notwithstanding the foregoing, in no event shall the Executive’s 's outside activities, services, personal business and investments materially interfere with the performance of his duties under this Agreement.