Common use of Indirect Competition Clause in Contracts

Indirect Competition. Executive will be in violation of paragraph 3(a) if Executive engages in any or all of the activities set forth therein directly as an individual on Executive’s own account, or indirectly as a partner, joint venturer, employee, agent, salesperson, consultant, officer and/or director any firm, association, partnership, corporation or other entity, or as an owner of any entity in which Executive or Executive’s spouse, child or parent owns, directly or indirectly, individually or in the aggregate, more than five percent (5%) of the outstanding stock or other ownership interest.