SIMILAR BUSINESS. In consideration of the Award, during the Employment and for a term of twelve (12) months after the Termination Date, the Participant shall not, directly or indirectly, engage in Similar Business services or activities within the Commonwealth of Puerto Rico; provided, that nothing herein shall prohibit the Participant from being a passive owner of not more than 5% of the outstanding stock of any class of a corporation which is publicly traded so long as the Participant has no active participation in the business of such corporation.
Appears in 6 contracts
Samples: Restricted Stock Unit Award Agreement (EVERTEC, Inc.), Restricted Stock Unit Award Agreement (EVERTEC, Inc.), Restricted Stock Unit Award Agreement (EVERTEC, Inc.)
SIMILAR BUSINESS. In consideration of the Award, during the Employment and for a term of twelve (12) 12 months after the Termination Date, the Participant shall not, directly or indirectly, engage in Similar Business services or activities within Puerto Rico or the Commonwealth country(ies) in which the Participant is involved with as part of Puerto Ricohis Employment; provided, that nothing herein shall prohibit the Participant from being a passive owner of not more than 5% of the outstanding stock of any class of a corporation which is publicly traded so long as the Participant has no active participation in the business of such corporation.
Appears in 4 contracts
Samples: Restricted Stock Unit Award Agreement (EVERTEC, Inc.), Restricted Stock Unit Award Agreement (EVERTEC, Inc.), Restricted Stock Unit Award Agreement (EVERTEC, Inc.)
