Common use of Direct Competition Clause in Contracts

Direct Competition. While employed by the Company and thereafter (subject to the term described below in this paragraph regarding applicability of the prohibition in this paragraph to periods after termination of employment), Employee will neither permit his name to be used by, nor engage in or carry on, directly or indirectly, either for himself or as a member of a partnership, or as a stockholder (except as a stockholder of less than one percent (1%) of the issued and outstanding stock of a publicly held corporation), investor, officer or director of a corporation or as an employee, agent, associate or consultant of any person, partnership or corporation, any business in competition with any business carried on by the Company or a parent, subsidiary, affiliate or successor of the Company, provided that for the period after termination of employment, the provision of this Paragraph 4 shall only apply to the Company's voice recognition technology, shall continue for a period of one (1) year after termination of employee's employment hereunder, and shall be limited geographically to those cities and counties in the United States and outside of the United States where the Company's voice recognition technology was being marketed and sold immediately prior to termination of Employee's employment hereunder.