Common use of Competition During Employment Clause in Contracts

Competition During Employment. Optionee agrees that during his employment with the Company, neither he, nor any of his affiliates, will directly or indirectly compete with the Company or its affiliates in the portable or handheld computer power, docking, and connectivity business, which is defined as product lines or businesses that are competitive with products that are manufactured, marketed or sold by the Company and its affiliates during the term of his employment or under development during the term of his employment (the "Business"); and that he will not act as an officer, director, employee, consultant, shareholder, lender, or agent of any entity which is competitive with the Business; provided, however, that this Section shall not prohibit Optionee or any of his affiliates from purchasing or holding an aggregate equity interest of up to 1% in any business in competition with the Business. Furthermore, Optionee agrees that during his employment with the Company, he will undertake no planning for the organization of any business activity competitive with the Business and Optionee will not combine or conspire with any other Optionees of the Company and its affiliates for the purpose of the organization of any such competitive business activity.

Appears in 3 contracts

Samples: Incentive Option Agreement (Mobility Electronics Inc), Incentive Stock Option Agreement (Mobility Electronics Inc), Incentive Option Agreement (Mobility Electronics Inc)

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Competition During Employment. Optionee Employee agrees that during his employment with the CompanyTerm, neither he, nor any of his affiliates, will directly or indirectly indirectly: (i) compete with the Company Employer or its affiliates in the portable or handheld computer power, docking, and connectivity business, which is defined as product lines or businesses that are competitive with products that are manufactured, marketed or sold by the Company Employer and its affiliates during the term of his employment Term or under development during the term of his employment Term (the "Business"); and that he will not or (ii) act as an officer, director, employee, consultant, shareholder, lender, or agent of any entity which is competitive in competition with the BusinessEmployer; provided, however, that this Section 5(d) shall not prohibit Optionee Employee or any of his affiliates from purchasing or holding an aggregate equity interest of up to 1% in any business publicly-traded company which is in competition with the BusinessEmployer. Furthermore, Optionee Employee agrees that during his employment with the CompanyTerm, he will undertake no planning for the organization of any business activity competitive with the Business and Optionee Employee will not combine or conspire with any other Optionees employees of the Company Employer and its affiliates for the purpose of the organization of any such competitive business activity.

Appears in 3 contracts

Samples: Employment Agreement (Mobility Electronics Inc), Employment Agreement (Mobility Electronics Inc), Employment Agreement (Mobility Electronics Inc)

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Competition During Employment. Optionee agrees that during his employment with the Company, neither he, nor any of his affiliates, will directly or indirectly compete with the Company or its affiliates in the portable or handheld computer power, docking, and connectivity business, which is defined as product lines or businesses that are competitive with products that are manufactured, marketed or sold by the Company and its affiliates during the term of his employment or under development during the term of his employment (the "Business"); and that he will not act as an officer, director, employee, consultant, shareholder, lender, or agent of any entity which is competitive with the Business; provided, however, that this Section shall not prohibit Optionee or any of his affiliates from purchasing or holding an aggregate equity interest of up to 1% in any business in competition with the Business. Furthermore, Optionee agrees that during his employment with the Company, he will undertake no planning for the organization of any business activity competitive with the Business and Optionee will not combine or conspire with any other Optionees Optionee of the Company and its affiliates for the purpose of the organization of any such competitive business activity.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Mobility Electronics Inc)

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