Common use of Promise of no competition Clause in Contracts

Promise of no competition. The Executive promises and agrees that, during the Restricted Period and in the Restricted Territory, the Executive shall not contribute in any manner to any other entity (as an employee, officer, director, stockholder, consultant, contractor, agent, partner or other similar capacity), engage in any activity that would require disclosure of confidential information (as defined herein) or engage, undertake or participate in the business of providing, selling, marketing or distributing Financial Products or Services of a similar nature, kind or variety (i) as offered by the Bank or any of its affiliates to Customers during the two years immediately before the Executive’s employment termination with the Bank and its affiliates, and (ii) as offered by the Bank or any of its affiliates to any of their Customers during the Restricted Period. Subject to the above provisions and conditions of this subparagraph (b), the Executive also promises that, during the Restricted Period, the Executive shall not become employed by or serve as a director, partner, organizer, consultant, agent, or owner of 5% or more of the outstanding stock of or contractor to any entity providing or proposing to provide Financial Products or Services that is located in or conducts business in the Restricted Territory.

Promise of no competition. The Executive promises and agrees that, that during the Restricted Period and in the Restricted Territory, Territory the Executive shall will not contribute in any manner to any other entity (as an employee, officer, director, stockholder, consultant, contractor, agent, partner or other similar capacity), engage in any activity that would require disclosure of confidential information (as defined herein) or engage, undertake undertake, or participate in the business of providing, selling, marketing marketing, or distributing Financial Products or Services of a similar nature, kind kind, or 1 For example, the promise of no solicitation applies if the Executive is conducting prohibited business in the Restricted Territory or if the entity with, for, or to whom the Executive is conducting prohibited business is located within the Restricted Territory. variety (ix) as offered by the Bank or any of its affiliates to Customers during the two years immediately before the Executive’s employment termination with the Bank and its affiliatesBank, and or (iiy) as offered by the Bank or to any of its affiliates to any of their Customers during the Restricted Period. Period.2 Subject to the above provisions and conditions of this subparagraph (b), the Executive also promises that, that during the Restricted Period, Period the Executive shall will not become employed by or serve as a director, partner, organizer, consultant, agent, or owner of 5% or more of the outstanding stock of or contractor to any entity providing or proposing to provide these prohibited Financial Products or Services that is located in or conducts business in the Restricted Territory.