Common use of Restrictions on Competitive Activities Clause in Contracts

Restrictions on Competitive Activities. The Executive acknowledges that the agreements and covenants contained in this Section 7 are essential to protect the value of the Company’s business and assets and by his or her current employment with the Company, the Executive has obtained and will obtain such knowledge, contacts, know-how, training and experience and there is a substantial probability that such knowledge, know-how, contacts, training and experience could be used to the substantial advantage of a competitor of the Company and to the Company’s substantial detriment. The Company’s initial offer of employment to the Executive, as well as the compensation, benefits, stock options, and potential bonus, constituted the consideration to support the Restrictions on Competitive Activities set forth in the Executive’s initial Employment Agreement, and as carried forward, subject to modification, in this Agreement. This Agreement shortens the duration of the restrictions on competitive activities as originally provided in the Employment Agreement. The Executive and Company agree that those restrictions, as set forth in the Employment Agreement and this Agreement, are legitimate, necessary, reasonable in geographic scope and duration, and supported by adequate consideration, including, without limitation, the shortened duration of the restrictions and are fully enforceable. In consideration of the foregoing and the other covenants and agreements of the Company set forth herein, the Executive agrees to the restrictions contained in this Section 7.

Restrictions on Competitive Activities. The Executive acknowledges that the agreements and covenants contained in this Section 7 are essential to protect the value of the Company’s business and assets and by his or her current employment with the Company, the Executive has obtained and will obtain such knowledge, contacts, know-how, training and experience and there is a substantial probability that such knowledge, know-how, contacts, training and experience could be used to the substantial advantage of a competitor of the Company and to the Company’s substantial detriment. The Company’s initial offer of employment to the Executive, as well as the compensation, benefits, stock options, and potential bonus, constituted the consideration to support the Restrictions restrictions on Competitive Activities competitive activities set forth in the Executive’s initial Employment Agreement, and as amended in the CIC Severance Agreement which is carried forward, subject to modification, forward in this Agreement. This Agreement shortens the duration of the restrictions on competitive activities as originally provided for in the Employment CIC Severance Agreement. The Executive and Company agree that those restrictions, as set forth in the Employment Agreement, the CIC Severance Agreement and this Agreement, are legitimate, necessary, reasonable in geographic scope and duration, and supported by adequate consideration, including, including without limitation, the shortened duration of the restrictions restrictions, and are fully enforceable. In consideration of the foregoing and the other covenants and agreements of the Company set forth herein, the Executive agrees to the restrictions contained in this Section 7.