Xxxx Xxxxx not to Compete Sample Clauses

Xxxx Xxxxx not to Compete. Xxxx Xxxxx acknowledges and recognizes the highly competitive nature of the Company’s business and, in consideration of the payment by the Company to Xxxx Xxxxx of amounts that may hereafter be paid to Xxxx Xxxxx pursuant to Section 6.1 hereof, Rand Xxxxx agrees that during the period beginning on the Date of Termination and ending on the first anniversary of the Date of Termination and irrespective of the circumstances under which Xxxx Xxxxx’x Engagement by the Company terminates, none of Xxxx Xxxxx or any of its directors, officers, employees or agents will engage, directly or indirectly, in any business conducted by the Company within 20 kilometres of the exterior boundaries of any mineral properties in which the Company has an interest or proposes to acquire an interest as of the Date of Termination. For purposes of this Agreement, the phrase “engage, directly or indirectly” shall mean engaging directly or having an interest, directly or indirectly, as owner, partner, shareholder, employee, independent contactor, capital investor, lender, renderer of consultation services or advice or otherwise (other than as the holder of less than 5% of the outstanding stock of a publicly-traded corporation), either alone or in association with others, in the operation of any aspect of any type of business or enterprise engaged in any aspect of the business conducted by the Company;