Common use of Competition with the Corporation Clause in Contracts

Competition with the Corporation. For purposes of this Agreement, (A) the words “Competition with the Corporation” shall mean any competition with the Corporation or any business engaged in by the Corporation, and (B) a business or enterprise shall be deemed to be in Competition with the Corporation if it is engaged in any business activity which is the same or comparable to any business activity of the Corporation from time to time during the Executive’s employment with the Corporation in any geographic area of the United States in which the Corporation conducts or has conducted such business. Notwithstanding the foregoing, nothing herein contained shall prevent the Executive from purchasing and holding for investment less than 5% of the shares of any corporation the shares of which are regularly traded either on a national securities exchange or in the over-the-counter market.