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Common use of Permitted Activities Clause in Contracts

Permitted Activities. The Executive shall devote substantially all of the Executive’s 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 significant business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage, but as long as the following activities do not interfere with the Executive’s obligations to the Employer, this shall not be construed as preventing the Executive from: (a) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the entity and in which the Executive’s participation is solely that of an investor; provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one percent (1%) or more of the equity securities of any Competing Business; or (b) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity so long as any such participation does not interfere with the ability of the Executive to effectively discharge the Executive’s duties hereunder; provided further, that the Chief Executive Officer may direct the Executive in writing to resign from any such organization and/or cease such activities should the Chief Executive Officer reasonably conclude that continued membership and/or activities of the type identified would not be in the best interests of the Employer.

Appears in 6 contracts

Samples: Employment Agreement (First Security Group Inc/Tn), Employment Agreement (First Security Group Inc/Tn), Employment Agreement (First Security Group Inc/Tn)

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Permitted Activities. The Executive shall devote substantially all of the Executive’s 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 significant business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage, but as long as the following activities do not interfere with the Executive’s obligations to the Employer, this shall not be construed as preventing the Executive from: (a) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the entity and in which the Executive’s participation is solely that of an investor; provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one percent (1%) or more of the equity securities of any Competing Business; or (b) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity so long as any such participation does not interfere with the ability of the Executive to effectively discharge the Executive’s duties hereunder; provided further, that the Chief Executive Officer Board of Directors may direct the Executive in writing to resign from any such organization and/or cease such activities should the Chief Executive Officer Board of Directors reasonably conclude that continued membership and/or activities of the type identified would not be in the best interests of the Employer.

Appears in 3 contracts

Samples: Employment Agreement (First Security Group Inc/Tn), Employment Agreement (First Security Group Inc/Tn), Employment Agreement (Citizens Bancshares Corp /Ga/)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention 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 significant business or professional activity, whether or not such activity is pursued for gain, profit profit, or other pecuniary advantage, but but, as long as the following activities do not interfere with the Executive’s obligations to the Employer, this shall not be construed as preventing the Executive from: (ai) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the subject entity and in which the Executive’s participation is solely that of an investor; provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one 2% percent (1%) or more of the equity securities of any Competing Business; or (bii) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity teaching, so long as any such participation does activities do not interfere with the ability of the Executive to effectively discharge the Executive’s his duties hereunder; provided further, that the Chief Executive Officer Board of Directors of Company or the Board of Directors of Bank may direct the Executive in writing to resign from any such organization and/or cease any such activities should the Chief Executive Officer such Board of Directors reasonably conclude that continued membership and/or activities of the type identified would not be in the best interests of the Employer.

Appears in 3 contracts

Samples: Employment Agreement (Commerce Union Bancshares, Inc.), Employment Agreement (Commerce Union Bancshares, Inc.), Employment Agreement (Commerce Union Bancshares, Inc.)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention 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 significant business or professional activity, whether or not such activity is pursued for gain, profit profit, or other pecuniary advantage, but provided that, as long as the following activities do not interfere with the Executive’s obligations to the Employer, this Section 2(c) shall not be construed as preventing the Executive from: (ai) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the subject entity and in which the Executive’s participation is solely that of an investor; , provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one percent (1%) 2% or more of the equity securities of any Competing Business; or (bii) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity teaching, so long as any such participation does activities do not interfere with the ability of the Executive to effectively discharge the Executive’s duties and responsibilities hereunder; , provided further, that the Chief Executive Officer of Company and Bank may direct the Executive in writing to resign from any such organization and/or cease any such activities should in the event the Chief Executive Officer reasonably conclude determines that continued membership in such organization and/or activities of the type identified would not be in the best interests of the EmployerCompany or Bank or any of their Affiliates.

Appears in 2 contracts

Samples: Employment Agreement (Smartfinancial Inc.), Employment Agreement (Smartfinancial Inc.)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention 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 significant business or professional activity, whether or not such activity is pursued for gain, profit profit, or other pecuniary advantage, but provided that, as long as the following activities do not interfere with the Executive’s obligations to the Employer, this Section 2(c) shall not be construed as preventing the Executive from: (ai) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the subject entity and in which the Executive’s participation is solely that of an a passive investor; , provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one percent (1%) 2% or more of the equity securities of any Competing Business; or (bii) participating in the activities of civic and professional affairs and organizations and associations, attending and participating in banking industry or professional development conferences, preparing authoring or publishing papers or books, or teaching or serving on teaching, so long as no such activities interfere with the ability of Executive to effectively discharge Executive’s duties and responsibilities hereunder, provided that the Chief Executive Officer of Company, the board of directors of an entity so long as any such participation does not interfere with Company, or the ability board of the Executive to effectively discharge the Executive’s duties hereunder; provided further, that the Chief Executive Officer directors of Bank may direct the Executive in writing to resign from cease any such organization and/or cease such activities should in the Chief event he/she/it reasonably determines that Executive Officer reasonably conclude that continued membership and/or continuing the activities of the type identified would not be in the best interests of the EmployerCompany or Bank or any one or more of their respective Affiliates.

Appears in 2 contracts

Samples: Employment Agreement (Reliant Bancorp, Inc.), Employment Agreement (Reliant Bancorp, Inc.)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention 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 significant business or professional activity, whether or not such activity is pursued for gain, profit profit, or other pecuniary advantage, but provided that, as long as the following activities do not interfere with the Executive’s obligations to the Employer, this Section 2(c) shall not be construed as preventing the Executive from: (ai) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the subject entity and in which the Executive’s participation is solely that of an investor; , provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one percent (1%) 2% or more of the equity securities of any Competing Business; or (bii) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity teaching, so long as any such participation does activities do not interfere with the ability of the Executive to effectively discharge the Executive’s duties and responsibilities hereunder; , provided further, that the President or Chief Executive Officer of Company or Bank may direct the Executive in writing to resign from any such organization and/or cease any such activities should the President or Chief Executive Officer of Company or Bank reasonably conclude that continued membership in such organization and/or activities of the type identified would not be in the best interests of the EmployerCompany or Bank.

Appears in 2 contracts

Samples: Employment Agreement (Reliant Bancorp, Inc.), Employment Agreement (Reliant Bancorp, Inc.)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention 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 significant business or professional activity, whether or not such activity is pursued for gain, profit profit, or other pecuniary advantage, but provided that, as long as the following activities do not interfere with the Executive’s obligations to the EmployerBank, this Section 2(c) shall not be construed as preventing the Executive from: (ai) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the subject entity and in which the Executive’s participation is solely that of an investor; , provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one percent (1%) 2% or more of the equity securities of any Competing Business; or (bii) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity teaching, so long as any such participation does activities do not interfere with the ability of the Executive to effectively discharge the Executive’s duties and responsibilities hereunder; , provided further, that the President or Chief Executive Officer of Bank may direct the Executive in writing to resign from any such organization and/or cease any such activities should the President or Chief Executive Officer of Bank reasonably conclude that continued membership in such organization and/or activities of the type identified would not be in the best interests of the EmployerBank.

Appears in 2 contracts

Samples: Employment Agreement (Reliant Bancorp, Inc.), Employment Agreement (Reliant Bancorp, Inc.)

Permitted Activities. The Executive shall devote substantially all of the Executive’s 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 significant business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage, but as long as the following activities do not unreasonably interfere with the Executive’s obligations to the Employer, this shall not be construed as preventing the Executive from: (a) investing the Executive’s personal assets in any manner which will not require any material services on the part of the Executive in the operation or affairs of the entity and in which the Executive’s participation is solely primarily that of an investor; provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one percent (1%) or more of the equity securities of any Competing Business; or (b) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity so long as any such participation does not unreasonably interfere with the ability of the Executive to effectively discharge the Executive’s duties hereunder; provided further, that the Chief Executive Officer Board of Directors may direct the Executive in writing to resign from any such organization and/or cease such activities should the Chief Executive Officer Board of Directors reasonably conclude that continued membership and/or activities of the type identified would not be in the best interests of the Employer.

Appears in 2 contracts

Samples: Employment Agreement (Southwest Bancorp Inc), Employment Agreement (Southwest Bancorp Inc)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention and energies to the Business business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other significant business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage, but as long as the following activities do not interfere with the Executive’s obligations to the EmployerBank, this shall not be construed as preventing the Executive from: (a) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the entity and in which the Executive’s participation is solely that of an investor; provided that such investment activity following the Effective Date shall not result in the Executive his owning beneficially at any time one five percent (15%) or more of the equity securities of any Competing Business; or (b) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity so long as any such participation does not interfere with the ability of the Executive to effectively discharge the Executive’s his duties hereunder; provided further, that the Chief Executive Officer may direct the Executive in writing to resign from any such organization and/or cease such activities should the Chief Executive Officer reasonably conclude that continued membership and/or activities of the type identified would not be in the best interests of the Employer.

Appears in 1 contract

Samples: Key Officer Compensation Agreement (Southeastern Bank Financial CORP)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention 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 significant business or professional activity, whether or not such activity is pursued for gain, profit profit, or other pecuniary advantage, but but, as long as the following activities do not interfere with the Executive’s obligations to the Employer, this shall not be construed as preventing the Executive from: (ai) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the subject entity and in which the Executive’s participation is solely that of an investor; provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one 2% percent (1%) or more of the equity securities of any Competing Business; or (bii) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity teaching, so long as any such participation does activities do not interfere with the ability of the Executive to effectively discharge the Executive’s his duties hereunder; provided further, that the Chief Executive Officer Board of Directors may direct the Executive in writing to resign from any such organization and/or cease any such activities should the Chief Executive Officer such Board of Directors reasonably conclude that continued membership and/or activities of the type identified would not be in the best interests of the Employer.

Appears in 1 contract

Samples: Employment Agreement (Commerce Union Bancshares, Inc.)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention 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 significant business or professional activity, whether or not such activity is pursued for gain, profit profit, or other pecuniary advantage, but provided that, as long as the following activities do not interfere with the Executive’s obligations to the Employer, this Section 2(c) shall not be construed as preventing the Executive from: (ai) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the subject entity and in which the Executive’s participation is solely that of an a passive investor; , provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one percent (1%) 2% or more of the equity securities of any Competing Business; or (bii) participating in the activities of civic and professional affairs and organizations and associations, attending and participating in banking industry or professional development conferences, preparing authoring or publishing papers or books, or teaching or serving on teaching, so long as no such activities interfere with the ability of Executive to effectively discharge Executive’s duties and responsibilities hereunder, provided that the board of directors of an entity so long as any such participation does not interfere with Company or the ability board of the Executive to effectively discharge the Executive’s duties hereunder; provided further, that the Chief Executive Officer directors of Bank may direct the Executive in writing to resign from cease any such organization and/or cease activities in the event such board of directors reasonably determines that Executive continuing the activities should the Chief Executive Officer reasonably conclude that continued membership and/or activities of the type identified would not be in the best interests of the EmployerCompany or Bank or any one or more of their respective Affiliates.

Appears in 1 contract

Samples: Employment Agreement (Reliant Bancorp, Inc.)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention 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 significant business or professional activity, whether or not such activity is pursued for gain, profit profit, or other pecuniary advantage, but provided that, as long as the following activities do not interfere with the Executive’s obligations to the Employer, this Section 2(c) shall not be construed as preventing the Executive from: (ai) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation operations or affairs of the subject entity and in which the Executive’s participation is solely that of an a passive investor; , provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one percent (1%) 2% or more of the equity securities of any Competing Business; or (bii) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity teaching, so long as any such participation does activities do not interfere with the ability of the Executive to effectively discharge the Executive’s duties and responsibilities hereunder; , provided further, that the Chief Executive Officer of Company, the board of directors of Company, or the board of directors of Bank may direct the Executive in writing to resign from any such organization and/or cease any such activities should in the Chief Executive Officer event it reasonably conclude determines that continued membership in such organization and/or activities of the type identified would not be in the best interests of the EmployerCompany or Bank or any of their Affiliates.

Appears in 1 contract

Samples: Employment Agreement (Reliant Bancorp, Inc.)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention and energies to the Business business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other significant business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage, but as long as the following activities do not interfere with the Executive’s obligations to the EmployerBank, this shall not be construed as preventing the Executive from: (a) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the entity and in which the Executive’s participation is solely that of an investor; provided that such investment activity following the Effective Date shall not result in the Executive his owning beneficially at any time one five percent (15%) or more of the equity securities of any Competing Business; or (b) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity so long as any such participation does not interfere with the ability of the Executive to effectively discharge the Executive’s his duties hereunder; provided further, that the Chief Executive Officer Board of Directors may direct the Executive in writing to resign from any such organization and/or cease such activities should the Chief Executive Officer Board of Directors reasonably conclude that continued membership and/or activities of the type identified would not be in the best interests of the Employer.

Appears in 1 contract

Samples: Key Officer Compensation Agreement (Southeastern Bank Financial CORP)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention 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 significant business or professional activity, whether or not such activity is pursued for gain, profit profit, or other pecuniary advantage, but provided that, as long as the following activities do not interfere with the Executive’s obligations to the Employer, this Section 2(c) shall not be construed as preventing the Executive from: (ai) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the subject entity and in which the Executive’s participation is solely that of an investor; , provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one percent (1%) 2% or more of the equity securities of any Competing Business; or (bii) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity teaching, so long as any such participation does activities do not interfere with the ability of the Executive to effectively discharge the Executive’s duties and responsibilities hereunder; , provided further, that the board of directors of Company, the board of directors of Bank, or the President and Chief Executive Officer of Company may direct the Executive in writing to resign from any such organization and/or cease any such activities should in the event the board of directors or President and Chief Executive Officer Officer, as appropriate, reasonably conclude determines that continued membership in such organization and/or activities of the type identified would not be in the best interests of the EmployerCompany or Bank or any one or more of their Affiliates.

Appears in 1 contract

Samples: Employment Agreement (Smartfinancial Inc.)

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Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention 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 significant business or professional activity, whether or not such activity is pursued for gain, profit profit, or other pecuniary advantage, but provided that, as long as the following activities do not interfere with the Executive’s obligations to the Employer, this Section 2(c) shall not be construed as preventing the Executive from: (ai) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the subject entity and in which the Executive’s participation is solely that of an investor; , provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one percent (1%) 2% or more of the equity securities of any Competing Business; or (bii) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity teaching, so long as any such participation does activities do not interfere with the ability of the Executive to effectively discharge the Executive’s duties and responsibilities hereunder; , provided further, that the Chief Executive Officer board of directors of Company or the board of directors of Bank may direct the Executive in writing to resign from any such organization and/or cease any such activities should in the Chief Executive Officer event the board of directors reasonably conclude determines that continued membership in such organization and/or activities of the type identified would not be in the best interests of the EmployerCompany or Bank or any one or more of their Affiliates.

Appears in 1 contract

Samples: Employment Agreement (Smartfinancial Inc.)

Permitted Activities. The Executive shall devote substantially all of the Executive’s 's entire business time, attention and energies to the Business business of the Employer Company and shall not during the Term her employment hereunder be engaged (whether or not during normal business hours) in any other significant business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage, but as long as the following activities do not interfere with the Executive’s 's obligations to the EmployerCompany, this shall not be construed as preventing the Executive from: (a) investing the Executive’s 's personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the entity and in which the Executive’s 's participation is solely that of an investor; provided that such investment activity following the Effective Date shall not result in the Executive his owning beneficially at any time one percent (1%) or more of the equity securities of any Competing Business; or (b) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity so long as any such participation does not interfere with the ability of the Executive to effectively discharge the Executive’s her duties hereunder; provided further, that the Chief Executive Officer or the Board of Directors may direct the Executive in writing to resign from any such organization and/or cease such activities should the Chief Executive Officer or the Board of Directors reasonably conclude that continued membership and/or activities of the type identified would not be in the best interests of the EmployerCompany.

Appears in 1 contract

Samples: Employment Agreement (Acorn Energy, Inc.)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention 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 significant business or professional activity, whether or not such activity is pursued for gain, profit profit, or other pecuniary advantage, but provided that, as long as the following activities do not interfere with the Executive’s obligations to the Employer, this Section 2(c) shall not be construed as preventing the Executive from: (ai) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation operations or affairs of the subject entity and in which the Executive’s participation is solely that of an a passive investor; , provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one percent (1%) 2% or more of the equity securities of any Competing Business; or (bii) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity teaching, so long as any such participation does activities do not interfere with the ability of the Executive to effectively discharge the Executive’s duties and responsibilities hereunder; , provided further, that the Chief Executive Officer of Company, the board of directors of Company, or the board of directors of Bank may direct the Executive in writing to resign from any such organization and/or cease any such activities should in the Chief Executive Officer event any of them reasonably conclude determines that continued membership in such organization and/or activities of the type identified would not be in the best interests of the EmployerCompany or Bank or any of their Affiliates.

Appears in 1 contract

Samples: Employment Agreement (Reliant Bancorp, Inc.)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention 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 significant business or professional activity, whether or not such activity is pursued for gain, profit profit, or other pecuniary advantage, but provided that, as long as the following activities do not interfere with the Executive’s obligations to the EmployerCompany, this Section 2(c) shall not be construed as preventing the Executive from: (ai) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the subject entity and in which the Executive’s participation is solely that of an investor; , provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one percent (1%) 2% or more of the equity securities of any Competing Business; or (bii) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity teaching, so long as any such participation does activities do not interfere with the ability of the Executive to effectively discharge the Executive’s duties and responsibilities hereunder; , provided further, that the President or Chief Executive Officer of Company may direct the Executive in writing to resign from any such organization and/or cease any such activities should the President or Chief Executive Officer of Company reasonably conclude that continued membership in such organization and/or activities of the type identified would not be in the best interests of the EmployerCompany or Bank.

Appears in 1 contract

Samples: Employment Agreement (Reliant Bancorp, Inc.)

Permitted Activities. The Executive shall devote substantially all of the Executive’s 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 significant business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage, but as long as the following activities do not interfere with the Executive’s obligations to the Employer, this shall not be construed as preventing the Executive from: (a) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the entity and in which the Executive’s participation is solely that of an investor; provided that such investment activity following the Effective Date shall not result in the Executive his owning beneficially at any time one percent (1%) or more of the equity securities of any Competing Business; or (b) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity so long as any such participation does not interfere with the ability of the Executive to effectively discharge the Executive’s his duties hereunder; provided further, that the Chief Executive Officer Board of Directors may direct the Executive in writing to resign from any such organization and/or cease such activities should the Chief Executive Officer Board of Directors reasonably conclude that continued membership and/or activities of the type identified would not be in the best interests of the Employer.

Appears in 1 contract

Samples: Employment Agreement (First Security Group Inc/Tn)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention 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 significant business or professional activity, whether or not such activity is pursued for gain, profit profit, or other pecuniary advantage, but but, as long as the following activities do not interfere with the Executive’s obligations to the Employer, this shall not be construed as preventing the Executive from: (ai) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the subject entity and in which the Executive’s participation is solely that of an investor; provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one 2% percent (1%) or more of the equity securities of any Competing Business; or (bii) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity teaching, so long as any such participation does activities do not interfere with the ability of the Executive to effectively discharge the Executive’s his duties hereunder; provided further, that the Chief Executive Officer Board of Directors may direct the Executive in writing to resign from any such organization and/or cease any such activities should the Chief Executive Officer Board of Directors reasonably conclude that continued membership and/or activities of the type identified would not be in the best interests of the Employer.

Appears in 1 contract

Samples: Employment Agreement (Commerce Union Bancshares, Inc.)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention 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 significant business or professional activity, whether or not such activity is pursued for gain, profit profit, or other pecuniary advantage, but provided that, as long as the following activities do not interfere with the Executive’s obligations to the Employer, this Section 2(c) shall not be construed as preventing the Executive from: (ai) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the subject entity and in which the Executive’s participation is solely that of an investor; , provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one percent (1%) 2% or more of the equity securities of any Competing Business; or (bii) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity teaching, so long as any such participation does activities do not interfere with the ability of the Executive to effectively discharge the Executive’s duties and responsibilities hereunder; , provided further, that the Chief Executive Officer board of directors of Company or the board of directors of Bank may direct the Executive in writing to resign from any such organization and/or cease any such activities should the Chief Executive Officer board of directors reasonably conclude that continued membership in such organization and/or activities of the type identified would not be in the best interests of the EmployerCompany or Bank.

Appears in 1 contract

Samples: Employment Agreement (Reliant Bancorp, Inc.)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention 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 significant business or professional activity, whether or not such activity is pursued for gain, profit profit, or other pecuniary advantage, but provided that, as long as the following activities do not interfere with the Executive’s obligations to the EmployerBank, this Section 2(c) shall not be construed as preventing the Executive from: (ai) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the subject entity and in which the Executive’s participation is solely that of an investor; , provided that such investment activity following the Effective Date shall not result in the Executive owning beneficially at any time one percent (1%) 2% or more of the equity securities of any Competing Business; or (bii) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity teaching, so long as any such participation does activities do not interfere with the ability of the Executive to effectively discharge the Executive’s duties and responsibilities hereunder; , provided further, that the President and Chief Executive Officer of Bank may direct the Executive in writing to resign from any such organization and/or cease any such activities should the President and Chief Executive Officer of Bank reasonably conclude that continued membership in such organization and/or activities of the type identified would not be in the best interests of the EmployerBank.

Appears in 1 contract

Samples: Employment Agreement (Reliant Bancorp, Inc.)

Permitted Activities. The Executive shall devote substantially all of the Executive’s entire business time, attention and energies to the Business business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other significant business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage, but as long as the following activities do not interfere with the Executive’s obligations to the EmployerBank, this shall not be construed as preventing the Executive from: (a) investing the Executive’s personal assets in any manner which will not require any services on the part of the Executive in the operation or affairs of the entity and in which the Executive’s participation is solely that of an investor; provided that such investment activity following the Effective Date shall not result in the Executive his owning beneficially at any time one five percent (15%) or more of the equity securities of any Competing Business; or (b) participating in civic and professional affairs and organizations and conferences, preparing or publishing papers or books, or teaching or serving on the board of directors of an entity so long as any such participation does not interfere with the ability of the Executive to effectively discharge the Executive’s his duties hereunder; provided further, that the President and Chief Executive Operating Officer may direct the Executive in writing to resign from any such organization and/or cease such activities should the President and Chief Executive Operating Officer reasonably conclude that continued membership and/or activities of the type identified would not be in the best interests of the Employer.

Appears in 1 contract

Samples: Employment Agreement (Southeastern Bank Financial CORP)

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