Noncompetition and Nonsolicitation Covenants. In consideration for -------------------------------------------- the Company's entering into this Agreement and for the payment of any benefits hereunder, Officer hereby agrees that he or she will not, during the term of his or her employment pursuant to this Agreement and the Applicable Severance Period, if any, do any of the following without the prior written consent of the Chief Executive Officer:
Noncompetition and Nonsolicitation Covenants. As used herein, the term "Restrictive Period" means the time period commencing on the Effective Date of this Agreement and ending on the second (2nd) anniversary of the date on which the Employee's employment by the Company (or any Related Entity) expires or is terminated. The Employee agrees that, during the Restrictive Period, the Employee will not utilize his or her knowledge of the business of the Company or his or her relationships with investors, suppliers, customers, clients, or financial institutions to compete with the Company or any of the Related Entities in any business which is the same as, or similar to, any business conducted by the Company or any of the Related Entities at any time during the Restrictive Period (a "Covered Business"). Additionally, the Employee agrees that the Employee will not engage in any of the following acts anywhere in the world during the Restrictive Period:
Noncompetition and Nonsolicitation Covenants. (a) Executive covenants and agrees that during his employment with the Company and for the longer of (x) the twelve-month period commencing on his Termination Date, or (y) if severance payments become due to Executive under Section 9 hereof, the date on which the last of such severance payments is due (the “Restricted Period”), whether or not Executive is terminated with or without Cause, or whether such termination is at the instance of Executive (with or without Good Reason) or occurs before or after expiration of the Term, Executive will not (except on behalf of the Company or an Affiliate), directly or indirectly, serve or act as an owner, principal, partner, employee, officer, director, stockholder or consultant (which term does not include acting as an investment banker) of a Competitive Business in the Restricted Area. For purposes hereof, (i) “
Noncompetition and Nonsolicitation Covenants. Executive acknowledges that (i) the services of the Executive are of special, unique and extraordinary value to the Company and the Related Corporations and (ii) the Company's and the Related Corporations' ability to accomplish their purposes and to successfully compete in the marketplace depend substantially on the skills and expertise of the Executive. Executive acknowledges and agrees that the Company and the Related Corporations would be irreparably damaged if Executive were to not devote substantially all of his business time and efforts to the business and affairs of the Company and the Related Corporations during the Contract Term or were to provide directly or indirectly services to any Person competing directly or indirectly with the Company or any of the Related Corporations or were to engage in a similar a business other than as specifically permitted by this Section 4.02. Accordingly, in further consideration of the compensation to be paid by the Company to the Executive and to induce Providence to enter into the Purchase Agreement, Executive agrees, that from and after the date hereof and during the applicable Non-Compete Period, Executive will not, singly, jointly, or as an employee, agent or partner of any partnership or as an officer, agent, employee, director, stockholder (except of not more than one percent (1%) of the outstanding stock of any company listed on a national securities exchange or actively traded in the over the counter market) or investor in any other Person, or as a consultant, advisor, or independent contractor to any such Person, or in any other capacity, directly, indirectly or beneficially, anywhere in the world:
Noncompetition and Nonsolicitation Covenants. As used herein, the term “Restrictive Period” means the time period commencing on the Effective Date of this Agreement and ending on the date that is two (2) years after the date on which the Executive’s employment by the Company (or any Related Entity) expires or is terminated (for purposes of the noncompetition provisions hereunder, such termination must be for cause). The Executive agrees that, during the Restrictive Period, the Executive will not utilize his or her knowledge of the business of the Company or his or her relationships with investors, suppliers, customers, clients, or financial institutions to compete with the Company or any of the Related Entities in any business which is the same as, or similar to, any business conducted by the Company or any of the Related Entities at any time during the Restrictive Period (a “Covered Business”). Additionally, the Executive agrees that the Executive will not engage in any of the following acts anywhere within the Territory (as defined below) during the Restrictive Period:
Noncompetition and Nonsolicitation Covenants. In consideration of the benefits and promises contained in this Agreement, the compensation and benefits provided to Executive in connection with Executive’s employment with the Company, the disclosure to Executive of confidential information, and training and development opportunities provided to Executive in connection with such employment, Executive agrees to the following restrictive covenants.
Noncompetition and Nonsolicitation Covenants. During Executive’s employment and during the for two (2) year period following the termination of Executive’s employment (regardless of the reasons for the termination) (the “Restricted Period”), and as a condition to the receipt of payments as provided under Section 5, Executive will not engage in the following within the Geographic Territory:
Noncompetition and Nonsolicitation Covenants. The Employee agrees that the Employee shall not, during the period in which the Employee is employed by any Related Company and for one year thereafter:
Noncompetition and Nonsolicitation Covenants. (a) Executive covenants and agrees that during his employment with the Company and for the longer of (x) twelve (12) consecutive months thereafter, or (y) for so long as Executive is receiving payments under Section 9 hereof (the “Restricted Period”), whether or not Executive is terminated with or without Cause, or whether such termination is at the instance of Executive (with or without Good Reason) or occurs before or after expiration of the Term, Executive will not (except on behalf of the Company), directly or indirectly (including without limitation, as a proprietor, owner, principal, agent, partner, officer, director, stockholder, employee, manager, member, consultant or otherwise), anywhere in the United States and in any other geographic area in which the Company or any Affiliate of the Company conducts, or is actively engaged in pursuing, business on the Termination Date (the “Restricted Area”), compete with the Company or own, operate, manage, control, engage in, participate in, invest in, permit his name to be used by, hold any interest in, assist, aid, act as a consultant to or otherwise advise in any way, or perform any services (alone or in association with any Person (as defined below)) for any Person (or on behalf of himself) that engages in or owns, invests in, operates, manages or controls any venture or enterprise that, directly or indirectly, engages in any services or other activity (or any substantially similar service, activity or line of business) consisting of a Restricted Business. For purposes hereof, a “
Noncompetition and Nonsolicitation Covenants. Each of the Sellers agrees that neither it, nor any of its Affiliates, for a period of five (5) years commencing on the Closing Date, will, within the Territory, either directly or indirectly, own, manage, operate, control or participate in the ownership, management, operation or control of, any business, whether in corporate, proprietorship or partnership form or otherwise where such business is engaged in a business that is the same or substantially similar to the Business. As used herein, the term "Territory" means all of the geographic areas where, at any time during the two (2) years immediately preceding the Closing Date, the Business was conducted. Each of the Sellers also agrees that neither it, nor any of its Affiliates, for a period of two (2) years commencing on the Closing Date, will, directly or indirectly, individually or in concert with any other person or business, whether in corporate, proprietorship or partnership form or otherwise recruit, induce or attempt to recruit or induce any Hired Employee or any employee of Purchaser (or any of its subsidiaries) to leave the employ of the Company or Purchaser (or any of its subsidiaries) or violate any agreement with the Company or Purchaser (or any of its subsidiaries). Purchaser hereby agrees and acknowledges that the following activities shall not constitute a violation of this Section 8.1: (a) a general solicitation of potential employees through, and hiring of Persons as a result of, the use of newspaper advertisements or other publicly available, general communications, (b) communication with, and recruitment and hiring of, Persons who were terminated by the Company, the Purchaser or an Affiliate thereof after the Closing Date, or (c) unsolicited communication with, recruitment of or the hiring of Persons who approach a Seller or an Affiliate thereof, without direct or indirect inducement by such Seller, prior to any communication by such Seller or any Affiliate with regard to employment. The Parties hereto specifically acknowledge and agree that the remedy at law for any breach of this covenant will be inadequate and that Purchaser, in addition to any other relief available to it, shall be entitled to temporary and permanent injunctive relief without the necessity of proving actual damage or posting a bond. The Parties further acknowledge and agree that (i) the foregoing covenants and agreements in this Section 8.1 are made and given in connection with the sale of all of SCT Financial's in...
