Common use of Exclusive Services and Efforts Clause in Contracts

Exclusive Services and Efforts. Executive agrees to devote his efforts, energies and skill to the discharge of the duties and responsibilities attributable to his position and, except as set forth herein, agrees to devote substantially all of his professional time and attention exclusively to the business and affairs of the Company. It is expressly understood and agreed that, during the Term, Executive will not be employed by, render services to, or represent, any other person, firm or company engaged in a business of a similar nature or in competition with the Company without the prior written consent of the Company. Executive also agrees that he shall not take personal advantage of any business opportunities which arise during his employment and which may benefit the Company and are within the scope of the Company’s then business or natural extension thereof without the consent of the Company, provided, that the foregoing does not apply to future employment opportunities. Notwithstanding the foregoing, Executive shall be entitled to (a) engage in service on the board of directors of not-for-profit organizations, provided that he has received the prior written approval of the Company’s Board of Directors (the “Board”) (b) engage in other charitable activities and community affairs, and (c) manage his personal and family investments and affairs, in each case to the extent such activities do not, either individually or in the aggregate, materially interfere with the performance of his duties and responsibilities to the Company.

Appears in 4 contracts

Samples: Executive Employment Agreement (Inspire Pharmaceuticals Inc), Executive Employment Agreement (Inspire Pharmaceuticals Inc), Executive Employment Agreement (Inspire Pharmaceuticals Inc)

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Exclusive Services and Efforts. Executive agrees to devote his efforts, energies and skill to the discharge of the duties and responsibilities attributable to his position and, except as set forth herein, agrees to devote substantially all of his professional time and attention exclusively to the business and affairs of the Company. It is expressly understood and agreed that, during the Term, Executive will not be employed by, render services to, or represent, any other person, firm or company engaged in a business of a similar nature or in competition with the Company without the prior written consent of the Company. Executive also agrees that he shall not take personal advantage of any business opportunities which arise during his employment and which may benefit the Company and are within the scope of the Company’s then business or natural extension thereof without the consent of the Company, provided, that the foregoing does not apply to future employment opportunities. Notwithstanding the foregoing, Executive shall be entitled to (a) engage in service on the board of directors of not-for-profit organizations, provided that he has received the prior written approval of the Company’s Board of Directors (the “Board”) ), (b) engage in other charitable activities and community affairs, and (c) manage his personal and family investments and affairs, in each case to the extent such activities do not, either individually or in the aggregate, materially interfere with the performance of his duties and responsibilities to the Company.

Appears in 1 contract

Samples: Executive Employment Agreement (Inspire Pharmaceuticals Inc)

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Exclusive Services and Efforts. Executive agrees to devote his efforts, energies energies, and skill to the discharge of the duties and responsibilities attributable to his position and, except as set forth herein, agrees to devote substantially all of his professional time and attention exclusively to the business and affairs of the Company. It is expressly understood and agreed that, during the Term, Executive will not be employed by, render services to, or represent, any other person, firm or company engaged in a business of a similar nature or in competition with the Company without the prior written consent of the Company. Executive also agrees that he shall not take personal advantage of any business opportunities which arise during his employment and which in his good faith judgment may benefit the Company and are within the scope of the Company’s then business or natural extension thereof without the consent of the Company, provided, provided that the foregoing does not apply to future employment opportunities. Notwithstanding the foregoing, Executive shall be entitled to engage in (a) engage in service on the board of directors of Amylin Pharmaceuticals, Inc. (b) service on the board of directors of one other for-profit company, business or trade organization, (c) with the consent of the Board (which consent shall not be unreasonably withheld) service on the board of directors of a second additional for-profit company, business or trade organization, provided, that, the Executive shall provide the Company prior written notice of his intention to join any such board and provided further that he shall not serve on the board of any entity that directly and materially competes with the Company, (d) service on the board of directors of not-for-profit organizations, provided that he has received the prior written approval of the Company’s Board of Directors (the “Board”e) (b) engage in other charitable activities and community affairs, affairs and (cf) manage manages his personal and family investments and affairs, in each case to the extent such activities do not, not either individually or in the aggregate, materially interfere with the performance of his duties and responsibilities to the Company.

Appears in 1 contract

Samples: Executive Employment Agreement (Inspire Pharmaceuticals Inc)

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