Common use of New Activity Clause in Contracts

New Activity. If, during the Garden Leave Period, the Executive receives any kind of earnings for any kind of personal services activity, including without limitation out of employment by or independently rendered services or advice to a business, or service as a director, officer, partner, agent, or representative for a business, excluding, for the avoidance of doubt, any earnings out of any activities preceding the Effective Date and any other disclosed activities that are approved by the CEO during the Employment Term pursuant to Section 1(d)(i) prior to the date of the Notice (except that this exclusion shall only apply if the Company obtains legal advice that such earnings may be excluded under Swiss law) (the activities subject to this Section 5(a)(ii) collectively referred to as “New Activity” and the earnings received by the Executive from any such New Activity, the “Earnings”), the Executive acknowledges and accepts that the Company’s obligation to pay the Notice Period Payments shall be reduced by the Company in an amount equal to the Earnings. If the Company has already paid any Notice Period Payments required to be reduced pursuant to the terms hereof, the Executive agrees to repay to the Company the applicable amount up to an amount equal to the Earnings promptly following the Company’s request. The Executive must promptly inform the Company in writing of any Earnings received or expected to be received from any New Activity. For the avoidance of doubt, the foregoing shall not be construed to affect the restrictions on the Executive’s outside activities under Section 1(d)(i) or the disclosure and approval process under that section, nor does it affect the restrictions related to the activities involving Competing Businesses under Section 1(d)(ii) during the Employment Term, including the Qualifying Termination Notice Period.

New Activity. If, during the Garden Leave Period, the Executive receives any kind of earnings for any kind of personal services activity, including without limitation out of employment by or independently rendered services or advice to a business, or service as a director, officer, partner, agent, or representative for a business, excluding, for the avoidance of doubt, any earnings out of any activities preceding the Effective Date and any other disclosed activities that are approved by the CEO during the Employment Term pursuant to Section 1(d)(i) prior to the date of the Notice (except that this exclusion shall only apply if the Company CEO obtains legal advice that such earnings may be excluded under Swiss law) (the activities subject to this Section 5(a)(ii) collectively referred to as “New Activity” and the earnings received by the Executive from any such New Activity, the “Earnings”), the Executive acknowledges and accepts that the Company’s obligation to pay the Notice Period Payments shall be reduced by the Company in an amount equal to the Earnings. If the Company has already paid any Notice Period Payments required to be reduced pursuant to the terms hereof, the Executive agrees to repay to the Company the applicable amount up to an amount equal to the Earnings promptly following the Company’s request. The Executive must promptly inform the Company in writing of any Earnings received or expected to be received from any New Activity. For the avoidance of doubt, the foregoing shall not be construed to affect the restrictions on the Executive’s outside activities under Section 1(d)(i) or the disclosure and approval process under that section, nor does it affect the restrictions related to the activities involving Competing Businesses under Section 1(d)(ii) during the Employment Term, including the Qualifying Termination Notice Period...

New Activity. If, during the Garden Leave Period, the Executive receives any kind of earnings for any kind of personal services activity, including without limitation out of employment by or independently rendered services or advice to a business, or service as a director, officer, partner, agent, or representative for a business, excluding, for the avoidance of doubt, any earnings out of any activities preceding the Effective Date and any other disclosed activities that are approved by the CEO Board (or a committee thereof) during the Employment Term pursuant to Section 1(d)(i) prior to the date of the Notice (except that this exclusion shall only apply if the Company Board obtains legal advice that such earnings may be excluded under Swiss law) (the activities subject to this Section 5(a)(ii) collectively referred to as “New Activity” and the earnings received by the Executive from any such New Activity, the “Earnings”), the Executive acknowledges and accepts that the Company’s obligation to pay the Notice Period Payments shall be reduced by the Company in an amount equal to the Earnings. If the Company has already paid any Notice Period Payments required to be reduced pursuant to the terms hereof, the Executive agrees to repay to the Company the applicable amount up to an amount equal to the Earnings promptly following the Company’s request. The Executive must promptly inform the Company in writing of any Earnings received or expected to be received from any New Activity. For the avoidance of doubt, the foregoing shall not be construed to affect the restrictions on the Executive’s outside activities under Section 1(d)(i) or the disclosure and approval process under that section, nor does it affect the restrictions related to the activities involving Competing Businesses under Section 1(d)(ii) during the Employment Term, including the Qualifying Termination Notice Period.

New Activity. If, If during the Garden Leave Period, the Restricted Period Executive receives achieves any kind of compensatory earnings for actually received out of any kind of personal services activity, whether restricted or not under the terms of this non-competition undertaking, including without limitation out of employment by with or independently rendered services or advice advise to a business, or service as a director, officer, partner, agent, agent or representative for a business, excluding, for the avoidance of doubt, any earnings out of any passive financial investment and any of the activities preceding pre-existing the Effective Date date of this Agreement as specified in Annex 2 and any other disclosed activities that are approved by the CEO Board (or committee thereof) during Executive’s employment (including the Employment Term pursuant to Section 1(d)(iNotice Period) or prior to the effective date of Executive’s termination of employment at the end of the Notice (except that this exclusion shall only apply if Period, as the Company obtains legal advice that such earnings case may be excluded under Swiss law) (the activities subject to this Section 5(a)(ii8(g) collectively referred to as a “New Activity” and the earnings received by the Executive from any such New Activity, the “Earnings”), the Executive acknowledges and accepts that the Company’s obligation to pay (i) the Notice Period Payments shall be reduced by the Company in an amount equal to Executive’s Earnings and (ii) the EarningsRestricted Period Payments above shall be reduced by the Company to the extent that any such Earnings exceed the amount allocated to Executive in the aggregate amount of maximum compensation of the Company's executive management team proposal included in the Company’s definitive proxy statement and approved by the Company’s shareholders at the most recent annual general meeting of shareholders. If the Company has already paid any Notice Period Payment or any Restricted Period Payments above required to be reduced pursuant to the terms hereof, the Executive agrees undertakes to repay to the Company the applicable amount up to an amount equal to the Executives Earnings out of Executive’s New Activity promptly following the Company’s request. The Executive must promptly inform the Company in writing of any Earnings received or expected to be received achieved from any New Activity. For the avoidance of doubt, the foregoing shall not be construed to affect the restrictions on the Executive’s outside activities under Section 1(d)(i) or the disclosure and approval process under that section, nor does it affect the restrictions related to the activities involving Competing Businesses under Section 1(d)(ii) during the Employment Term, including the Qualifying Termination Notice Period.

New Activity. If, If during the Garden Leave Period, the Restricted Period Executive receives achieves any kind of compensatory earnings for actually received out of any kind of personal services activity, whether restricted or not under the terms of this non-competition undertaking, including without limitation out of employment by with or independently rendered services or advice advise to a business, or service as a director, officer, partner, agent, agent or representative for a business, excluding, for the avoidance of doubt, any earnings out of any passive financial investment and any of the activities preceding pre-existing the Effective Date date of this Agreement as specified in Annex 2 and any other disclosed activities that are approved by the CEO Board (or committee thereof) during Executive’s employment (including the Employment Term pursuant to Section 1(d)(iNotice Period) or prior to the effective date of Executive’s termination of employment at the end of the Notice (except that this exclusion shall only apply if Period, as the Company obtains legal advice that such earnings case may be excluded under Swiss law) (the activities subject to this Section 5(a)(ii8(g) collectively referred to as a “New Activity” and the earnings received by the Executive from any such New Activity, the “”Earnings”), the Executive acknowledges and accepts that the Company’s obligation to pay (i) the Notice Period Payments shall be reduced by the Company in an amount equal to Executive’s Earnings and (ii) the EarningsRestricted Period Payments above shall be reduced by the Company to the extent that any such Earnings exceed the amount allocated to Executive in the aggregate amount of maximum compensation of the Company's executive management team proposal included in the Company’s definitive proxy statement and approved by the Company’s shareholders at the most recent annual general meeting of shareholders. If the Company has already paid any Notice Period Payment or any Restricted Period Payments above required to be reduced pursuant to the terms hereof, the Executive agrees undertakes to repay to the Company the applicable amount up to an amount equal to the Executives Earnings out of Executive’s New Activity promptly following the Company’s request. The Executive must promptly inform the Company in writing of any Earnings received or expected to be received achieved from any New Activity. For the avoidance of doubt, the foregoing shall not be construed to affect the restrictions on the Executive’s outside activities under Section 1(d)(i) or the disclosure and approval process under that section, nor does it affect the restrictions related to the activities involving Competing Businesses under Section 1(d)(ii) during the Employment Term, including the Qualifying Termination Notice Period.