Common use of Competitive Plans Clause in Contracts

Competitive Plans. Employee agrees not to take any preliminary steps to set up or engage in any business enterprises that would compete in any way with the Company during the term of this Agreement. While employed by the Company, Employee agrees to divulge to the Company any and all competitive plans which Employee may have under consideration, whether or not Employee intends to act upon them. As used in the preceding sentence, the term "competitive plans" shall include, but not be limited to, plans to set up, establish or engage in a business enterprise in competition with the Company, and plans to seek or accept employment from anyone in competition with the Company.