Common use of Permitted Activities Clause in Contracts

Permitted Activities. The Executive shall devote his entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of the Board of Directors of the Employer, serve on boards of directors and/or advisory boards of for-profit entities.

Appears in 8 contracts

Samples: Employment Agreement (Avenue Financial Holdings, Inc.), Employment Agreement (Avenue Financial Holdings, Inc.), Employment Agreement (Avenue Financial Holdings, Inc.)

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Permitted Activities. The Executive shall devote his entire business time, attention and energies to the Business of the Employer Bank and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer Bank and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the corporation whose securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the EmployerBank; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of the Employer, serve on boards Bank approves of directors and/or advisory boards of for-profit entitiessuch activities prior to the Executive’s engaging in them.

Appears in 4 contracts

Samples: Employment Agreement (Nicolet Bankshares Inc), Employment Agreement (NSB Holdings, Inc.), Employment Agreement (FirstBank Financial Services, Inc.)

Permitted Activities. The Executive shall devote his entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of either CNB or the Employer, serve on boards Employer approves in writing of directors and/or advisory boards of for-profit entitiessuch activities prior to the Executive’s engaging in them.

Appears in 3 contracts

Samples: Employment Agreement (CNB Bancorp Inc/Va), Employment Agreement (CNB Bancorp Inc/Va), Employment Agreement (CNB Bancorp Inc/Va)

Permitted Activities. The Executive shall devote his entire --------------------- business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, teaching so long as the President and with the prior approval Chief Executive Officer of the Board Company and the Bank approves in writing of Directors of such activities prior to the Employer, serve on boards of directors and/or advisory boards of for-profit entitiesExecutive's engaging in them.

Appears in 3 contracts

Samples: Employment Agreement (Neighbors Bancshares Inc), Employment Agreement (Neighbors Bancshares Inc), Employment Agreement (Neighbors Bancshares Inc)

Permitted Activities. The Executive shall devote his entire business time, attention and energies to the Business of the Employer Bank and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer Bank and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the corporation whose securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the EmployerBank; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of the Employer, serve on boards Bank approves of directors and/or advisory boards of for-profit entitiessuch activities prior to the Executive's engaging in them.

Appears in 3 contracts

Samples: Employment Agreement, Employment Agreement (Nicolet Bankshares Inc), Employment Agreement (Nicolet Bankshares Inc)

Permitted Activities. The Executive Employee shall devote his entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: Employee from (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive Employee in their operation or affairs and in which his participation is solely that of an investor; , (b) purchasing securities in any corporation, the corporation whose securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with teaching so long as the prior approval President of the Board Company and the Bank approves of Directors of such activities prior to the Employer, serve on boards of directors and/or advisory boards of for-profit entitiesEmployee's engaging in them.

Appears in 3 contracts

Samples: Employment Agreement (Community Capital Bancshares Inc), Employment Agreement (Community Capital Bancshares Inc), Employment Agreement (Community Capital Bancshares Inc)

Permitted Activities. The Executive shall devote his or her entire business time, attention and energies to the Business of the Employer Bank and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his or her personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer Bank and which will not require any services on the part of the Executive in their operation or affairs and in which his or her participation is solely that of an investor; (b) purchasing securities in any corporation, the corporation whose securities of which are regularly traded provided that such purchase shall not result in him or her collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the EmployerBank; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with teaching so long as the prior approval Chief Executive Officer of the Board Bank approves of Directors of such activities prior to the Employer, serve on boards of directors and/or advisory boards of for-profit entitiesExecutive's engaging in them.

Appears in 2 contracts

Samples: Employment Agreement (Futurus Financial Services Inc), Employment Agreement (Futurus Financial Services Inc)

Permitted Activities. The Executive Employee shall devote his entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: Employee from (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive Employee in their operation or affairs and in which his participation is solely that of an investor; , (b) purchasing securities in any corporation, the corporation whose securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of either the Employer, serve on boards Bank or the Company approves of directors and/or advisory boards of for-profit entitiessuch activities prior to the Employee's engaging in them.

Appears in 2 contracts

Samples: Employment Agreement (Community Capital Bancshares Inc), Employment Agreement (Community Capital Bancshares Inc)

Permitted Activities. The Executive shall devote his entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the corporation whose securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and; (c) participating in charitablereligious, civic and professional affairs and organizations and conferences as set forth in Exhibit 1 hereto; and (d) participating in such other civic and professional affairs and organizations and conferences, or preparing or publishing papers or books or teaching, and with teaching so long as the prior approval Chief Executive Officer of the Board Employer approves of Directors of such activities prior to the Employer, serve on boards of directors and/or advisory boards of for-profit entitiesExecutive's engaging in them.

Appears in 2 contracts

Samples: Merger Agreement (Citizens Bancshares Corp /Ga/), Merger Agreement (CFS Bancshares Inc)

Permitted Activities. The Executive shall devote his entire --------------------- business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the corporation whose securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of either the Employer, serve on boards Bank or the Company approves of directors and/or advisory boards of for-profit entitiessuch activities prior to the Executive's engaging in them.

Appears in 2 contracts

Samples: Employment Agreement (Generations Bancshares Inc), Employment Agreement (Generations Bancshares Inc)

Permitted Activities. The Executive shall devote his entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of the Employer, serve on boards Company or the Bank approves in writing of directors and/or advisory boards of for-profit entitiessuch activities prior to the Executive's engaging in them.

Appears in 2 contracts

Samples: Employment Agreement (Freedom Bancshares Inc), Employment Agreement (P B Financial Services Corp)

Permitted Activities. The Executive shall devote his entire --------------------- business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of the Employer, serve on boards Employer approves in writing of directors and/or advisory boards of for-profit entitiessuch activities prior to the Executive's engaging in them.

Appears in 1 contract

Samples: Employment Agreement (Flint River Bancshares Inc)

Permitted Activities. The Executive shall devote his entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activityactivity which conflicts with the full execution of the Executive’s duties for the Employer, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs affairs, conferences and organizations and conferencesor serving on committees or boards of such organizations, preparing or publishing papers or books or teaching, teaching so long as the President and with the prior approval Chief Executive Officer of the Board Employer approves in writing of Directors of such activities prior to the Employer, serve on boards of directors and/or advisory boards of for-profit entitiesExecutive’s engaging in them.

Appears in 1 contract

Samples: Employment Agreement (Mountain Bancshares Inc)

Permitted Activities. The Executive Employee shall devote his entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: Employee from (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive Employee in their operation or affairs and in which his participation is solely that of an investor; , (b) purchasing securities in any corporation, the corporation whose securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of the Employer, serve on boards Bank approves of directors and/or advisory boards of for-profit entitiessuch activities prior to the Employee’s engaging in them.

Appears in 1 contract

Samples: Employment Agreement (Atlantic Southern Financial Group, Inc.)

Permitted Activities. The Executive shall devote his her entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his her personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his her participation is solely that of an investor; (b) purchasing securities in any corporation, the securities of which are regularly traded provided that such purchase shall not result in him her collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with teaching so long as the prior approval Chief Executive Officer of the Board Company or the Bank approves in writing of Directors of such activities prior to the Employer, serve on boards of directors and/or advisory boards of for-profit entitiesExecutive's engaging in them.

Appears in 1 contract

Samples: Employment Agreement (P B Financial Services Corp)

Permitted Activities. The Executive Employee shall devote his entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: Employee from (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive Employee in their operation or affairs and in which his participation is solely that of an investor; , (b) purchasing securities in any corporation, the corporation whose securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of the Employer, serve on boards Company and the Bank approves of directors and/or advisory boards of for-profit entitiessuch activities prior to the Employee’s engaging in them.

Appears in 1 contract

Samples: Employment Agreement (Community Capital Bancshares Inc)

Permitted Activities. The Executive shall devote his entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activityactivity which conflicts with the full execution of the Executive’s duties for the Employer, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs affairs, conferences and organizations and conferencesor serving on committees or boards of such organizations, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of either the Employer, serve on boards Bank or the Company approves in writing of directors and/or advisory boards of for-profit entitiessuch activities prior to the Executive’s engaging in them.

Appears in 1 contract

Samples: Employment Agreement (Mountain Bancshares Inc)

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Permitted Activities. The Executive Employee shall devote his entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: Employee from (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive Employee in their operation or affairs and in which his participation is solely that of an investor; , (b) purchasing securities in any corporation, the corporation whose securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with teaching so long as the prior approval President of the Board Bank approves of Directors of such activities prior to the Employer, serve on boards of directors and/or advisory boards of for-profit entitiesEmployee's engaging in them.

Appears in 1 contract

Samples: Employment Agreement (Community Capital Bancshares Inc)

Permitted Activities. The Executive shall devote his her entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his her personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his her participation is solely that of an investor; (b) purchasing securities in any corporation, the securities of which are regularly traded provided that such purchase shall not result in him her collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and; (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of either CNB or the Employer approves in writing of such activities prior to the Executive’s engaging in them; and (d) assisting her husband with his sole proprietorship outside of normal business hours and only in matters that do not conflict with her responsibilities and duties for the Employer, serve on boards of directors and/or advisory boards of for-profit entities.

Appears in 1 contract

Samples: Employment Agreement (CNB Bancorp Inc/Va)

Permitted Activities. The Executive shall devote his her entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his her personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his her participation is solely that of an investor; (b) purchasing securities in any corporation, the securities of which are regularly traded provided that such purchase shall not result in him her collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of either CNB or the Employer, serve on boards Employer approves in writing of directors and/or advisory boards of for-profit entitiessuch activities prior to the Executive’s engaging in them.

Appears in 1 contract

Samples: Employment Agreement (CNB Bancorp Inc/Va)

Permitted Activities. The Executive shall devote his entire --------------------- business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with teaching so long as the prior approval Chief Executive Officer of the Board Company or the Bank approves in writing of Directors of such activities prior to the Employer, serve on boards of directors and/or advisory boards of for-profit entitiesExecutive's engaging in them.

Appears in 1 contract

Samples: Employment Agreement (Freedom Bancshares Inc)

Permitted Activities. The Executive shall devote his entire business ---------------------- time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; , but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of either the Employer, serve on boards Company or the Bank approves in writing of directors and/or advisory boards of for-profit entitiessuch activities prior to the Executive's engaging in them.

Appears in 1 contract

Samples: Employment Agreement (Lee County Bancshares Inc)

Permitted Activities. The Executive shall devote his her entire -------------------- business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his her personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his her participation is solely that of an investorinvestor unless prior approval is granted by the board; (b) purchasing securities in any corporation, the corporation whose securities of which are regularly traded provided that such purchase shall not result in him her collectively owning beneficially at any time five one percent (51%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of the Board of Directors of the Employer, serve on boards of directors and/or advisory boards of for-profit entities.

Appears in 1 contract

Samples: Employment Agreement (Decatur First Bank Group Inc)

Permitted Activities. The Executive Employee shall devote his entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: Employee from (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive Employee in their operation or affairs and in which his participation is solely that of an investor; , (b) purchasing securities in any corporation, the corporation whose securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of the Employer, serve on boards Company approves of directors and/or advisory boards of for-profit entitiessuch activities prior to the Employee’s engaging in them.

Appears in 1 contract

Samples: Employment Agreement (Community Capital Bancshares Inc)

Permitted Activities. The Executive shall devote his entire business -------------------- time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or of not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the corporation whose securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with teaching so long as the prior approval of the Board of Directors of the Employer, serve on boards board of directors and/or advisory boards of for-profit entitieseither the Bank or the Company approves of such activities prior to the Executive's engaging in them.

Appears in 1 contract

Samples: Employment Agreement (Generations Bancshares Inc)

Permitted Activities. The Executive shall devote his entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the securities of which are regularly traded provided that such purchase shall not result in him his collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of either CNB or the Employer, serve on boards Employer approves in writing of directors and/or advisory boards of for-profit entitiessuch activities prior to the Executive’s engaging in them.

Appears in 1 contract

Samples: Employment Agreement (CNB Bancorp Inc/Va)

Permitted Activities. The Executive shall devote his entire --------------------- business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: (a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; (b) purchasing securities in any corporation, the securities of which are regularly traded provided that such purchase shall not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and (c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing papers or books or teaching, and with the prior approval of teaching so long as the Board of Directors of the Employer, serve on boards Company or the Bank approves in writing of directors and/or advisory boards of for-profit entitiessuch activities prior to the Executive's engaging in them.

Appears in 1 contract

Samples: Employment Agreement (Freedom Bancshares Inc)

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