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 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 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 hereunder 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, however, that the foregoing restrictions shall not apply to future employment opportunities that commence following the termination of Executive’s employment with the Company. Notwithstanding the foregoing, Executive shall be entitled to engage in (a) in addition to serving on the Board, service on the board of directors of one for-profit company, business or trade organization at anytime during the Term, provided, that, he shall not serve on the board of any entity that materially competes with the Company and provided further that Executive shall provide the Company prior written notice of his intent to join any such board, (b) service on the board of directors of not-for-profit organizations, (c) other charitable activities and community affairs and (d) management of 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 (Neurologix Inc/De)

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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 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 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 hereunder 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, however, that the foregoing restrictions shall not apply to future employment opportunities that commence following the termination of Executive’s employment with the Company. Notwithstanding the foregoing, Executive shall be entitled to engage in (a) in addition to serving on the Board, service on the board of directors of one two for-profit companycompanies, business businesses or trade organization organizations at anytime during the TermTerm (it being acknowledged that Executive is currently serving on the board of directors of Amylin Pharmaceuticals, Inc. as of the Effective Date, which shall count as of one of the two boards of directors); provided, that, he shall not serve on the board of any entity that materially competes with the Company and provided further that Executive shall provide the Company prior written notice of his intent to join any such boardboard other than Amylin, (b) service on the board of directors of not-for-profit organizations, (c) other charitable activities and community affairs and (d) management of 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 (Neurologix Inc/De)

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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 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, except that, for a period of one year following the Effective Date, Executive may consult with his current employer in a reasonable manner on matters relating to transition of his responsibilities, litigation or proceedings related to his work period with that employer, or other similar matters. Executive also agrees that he shall not take personal advantage of any business opportunities which arise during his employment hereunder 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, however, provided that the foregoing restrictions shall does not apply to future employment opportunities that commence following the termination of Executive’s employment with the Companyopportunities. Notwithstanding the foregoing, Executive shall be entitled to engage in (a) in addition to serving on with the Board, consent of the Board (which consent shall not be unreasonably withheld) service on the board of directors of one a for-profit company, business or trade organization at anytime during the Termorganization, 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 and provided further that Executive shall provide the Company prior written notice of his intent to join any such boardCompany, (b) service on the board of directors of not-for-profit organizations, (c) other charitable activities and community affairs and (d) management of 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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