Covenants and Restrictions. (a) For a period of one (1) year following the termination of this Agreement (the "Non-Compete Period"), the Executive shall not, directly or indirectly, engage in, own, manage, operate, assist, join or control, or participate in the ownership, management, operation or control of any Restricted Enterprise (other than the Company or its affiliates), which engages or plans to engage in a Restricted Enterprise anywhere in the United States, whether as a director, officer, executive, agent, consultant, shareholder, partner, owner, independent contractor or otherwise. Notwithstanding the foregoing, these restrictions shall not prevent the Executive from earning his livelihood during the Non-Compete Period. As used herein, a "Restricted Enterprise" shall be any activity that competes with the business of the Company, including the business of Intrex, in any line of business that constitutes 5% or more of the net sales of the Company or Intrex on the date of termination of this Agreement. Notwithstanding the foregoing, the provisions of this Section 7(a) shall not apply if Executive's employment is terminated pursuant to Section 11(b) or Section 12 of this Agreement.
Appears in 6 contracts
Samples: Employment and Non Competition Agreement (Fiberchem Inc), Employment and Non Competition Agreement (Fiberchem Inc), Employment and Non Competition Agreement (Fiberchem Inc)
