Common use of Sole Employment Clause in Contracts

Sole Employment. Employee agrees to devote Employee's full time during the customary business hours of the Company and give Employee's best efforts to the business of the Company and, during the period of Employee's employment by the Company, Employee shall not engage in any manner, whether as an officer, employee, owner, partner, stockholder, director, consultant or otherwise -- directly or indirectly -- in any business other than as provided for herein without the prior written approval of the President of the Company, and shall not accept any other employment whatsoever from any other person, firm, corporation or entity; provided, however, that Employee may acquire an interest in a business entity so long as such interest is a passive investment of Employee not exceeding ten percent (10%) of the total ownership interest in such entity.

Appears in 2 contracts

Samples: Employment Agreement (Summit Properties Inc), Employment Agreement (Summit Properties Inc)

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Sole Employment. Employee agrees to devote Employee's full time during the customary business hours of the Company and give Employee's best efforts to the business of the Company and, during the period of Employee's employment by the Company, Employee shall not engage in any manner, whether as an officer, employee, owner, partner, stockholder, director, consultant or otherwise -- - directly or indirectly -- - in any business other than as provided for herein without the prior written approval of the President of the Company, and shall not accept any other employment whatsoever from any other person, firm, corporation or entity; provided, however, that Employee may acquire an interest in a business entity so long as such interest is a passive investment of Employee not exceeding ten percent (10%) of the total ownership interest in such entity.

Appears in 1 contract

Samples: Employment Agreement (Summit Properties Inc)

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Sole Employment. Employee agrees to devote Employee's full time during the customary business hours of the Company company and give Employee's best efforts to the business of the Company and, during the period of Employee's employment by the Company, Employee shall not engage in any manner, whether as an officer, employee, owner, partner, stockholder, director, consultant or otherwise -- otherwise, directly or indirectly -- indirectly, in any business other than as provided for herein without the prior written approval of the President of the Company, and shall not accept any other employment whatsoever from any other person, firm, corporation or entity; provided, however, that Employee may acquire an interest in a business entity so long as such interest is a passive investment of Employee not exceeding ten percent (10%) of the total ownership interest in such entity.

Appears in 1 contract

Samples: Employment Agreement (Summit Properties Inc)

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