Common use of Access to Confidential Information Clause in Contracts

Access to Confidential Information. Employee understands, acknowledges and agrees that during the course of Employee’s employment with Bank, Employee will gain information regarding, knowledge of and familiarity with the Confidential Information (as hereinafter defined) of Bank and its Affiliates and that if the Confidential Information was disclosed by Employee, Bank or any Affiliates would suffer irreparable damage and harm. Employee understands, acknowledges and agrees that the Confidential Information derives substantial economic value from, among other reasons, not being known or readily ascertainable by proper means by others who could obtain economic value therefrom upon disclosure. Employee acknowledges and agrees that Bank and all Affiliates use reasonable means to maintain the secrecy and confidentiality of the Confidential Information. For purposes of this Agreement, the term “Affiliate” means Holding Company and all subsidiaries of Holding Company and its subsidiaries.