Common use of Agreement not to Participate in Company’s Competitors Clause in Contracts

Agreement not to Participate in Company’s Competitors. Except with the prior written consent of the Company’s Board of Directors (the “Board”), the Executive shall not, during the Executive’s employment with the Company and any Severance Period (as defined below), assume or participate in, directly or indirectly, any position, investment or interest known by the Executive to be adverse or antagonistic to the Company, its business or prospects, financial or otherwise, or in any company, person or entity that is, directly or indirectly, in competition with the business of the Company or any of its subsidiaries. Ownership by the Executive, as a passive investment, of less than five percent (5%) of the outstanding shares of capital stock of any corporation with one or more classes of its capital stock listed on a national securities exchange or publicly traded on the Nasdaq Stock Market or in the over-the-counter market shall not constitute a breach of this paragraph.

Agreement not to Participate in Company’s Competitors. Except with the prior written consent of the Company’s Board of Directors (the “Board”), the Executive shall not, during any period the Executive’s employment with Executive is receiving compensation or any other consideration from the Company and any Severance Period (as defined below)Company, including, but not limited to severance pay, assume or participate in, directly or indirectly, any position, investment or equity interest known by the Executive to be adverse or antagonistic to the Company, its business or prospects, financial or otherwise, or in any company, person or entity that is, directly or indirectly, in competition with the business of the Company or any of its subsidiariesAffiliates. Ownership by the Executive, as a passive investment, of less than five one percent (51%) of the outstanding shares of capital stock of any corporation with one or more classes of its capital stock listed on a national securities exchange or publicly traded on the Nasdaq Stock Market or in the over-the-counter market shall not constitute a breach of this paragraph.