Common use of No Competition Clause in Contracts

No Competition. During the Term and, unless the Agreement terminates pursuant to Section 5(a) or 5(e), through the first anniversary of the expiration thereof, the Executive shall not directly or indirectly engage in any business which is competitive with any of those business activities in which the Company or its affiliated companies were engaged directly or indirectly during the Term of the Agreement; provided, however, that the restriction in this section shall apply to the reasonable and limited geographic area consisting of any state in which the Company or its affiliated companies directly or indirectly has offices, operations or customers, or otherwise conducts business. For purposes of this section, the Executive shall be deemed to engage in a business if he directly or indirectly engages or invests in, owns, manages, operates, controls or participates in the ownership, management, operation or control of, is employed by, associated or in any manner connected with, or renders services or advice to, any enterprise engaged in any business which is competitive with any of those business activities in which the Company or its affiliated companies were engaged directly or indirectly during the Term of the Agreement; provided, however, that the Executive may invest in the securities of any enterprise (but without otherwise participating in the activities of such enterprise) if (x) such securities are listed on any national or regional securities exchange or have been registered under Section 12(g) of the Exchange Act and (y) the Executive does not beneficially own (as defined in Rule 13d-3 promulgated under the Exchange Act) in excess of 5% of the outstanding capital stock of such enterprise. The Executive agrees that if a court of competent jurisdiction determines that the length of time or any other restriction, or portion thereof, set forth in this section is overly restrictive and unenforceable, the court may reduce or modify such restrictions to those which it deems reasonable and enforceable under the circumstances, and as so reduced or modified, the parties hereto agree that the restrictions of this section shall remain in full force and effect. The Executive further agrees that if a court of competent jurisdiction determines that any provision of this section is invalid or against public policy, the remaining provisions of this section and the remainder of this Agreement shall not be affected thereby, and shall remain in full force and effect. The Executive acknowledges that the restrictions imposed by this Agreement are legitimate, reasonable and necessary to protect the Company's and its affiliated companies' investment in their business and the goodwill thereof. The Executive acknowledges that the scope and duration of the restrictions contained herein are reasonable in light of the time that the Executive has been engaged in the business of the Company and its affiliated companies and the Executive's relationship with the suppliers, customers and clients of the Company and its affiliated companies. The Executive further acknowledges that the restrictions contained herein are not burdensome to the Executive in light of the consideration paid therefor and the other opportunities that remain open to the Executive. Moreover, the Executive acknowledges that he has other means available to him for the pursuit of his livelihood.

No Competition. During Throughout the Term and, unless the Agreement terminates pursuant to Section 5(a) or 5(e), through the first anniversary term of the expiration thereofthis Agreement, the Executive shall not directly or indirectly engage in the business of banking, or any other business which is competitive with any of those business activities in which the Company or its affiliated companies were engaged directly or indirectly engages during the Term term of the this Agreement; provided, however, that the restriction in this section Section 12 shall apply only to the reasonable and limited geographic area consisting of any state in which the Company or its affiliated companies directly or indirectly has offices, operations operations, or customers, or otherwise conducts business. For purposes of this sectionSection 12, the Executive shall be deemed to engage in a business if he directly or indirectly indirectly, engages or invests in, owns, manages, operates, controls or participates in the ownership, management, operation or control of, is employed by, associated or in any manner connected with, or renders services or advice to, any enterprise business engaged in any business which is competitive with any of those business activities in which the Company or its affiliated companies were engaged directly or indirectly during the Term of the Agreementbanking; provided, however, that the Executive may invest in the securities of any enterprise (but without otherwise participating in the activities of such enterprise) if (x) such securities are listed on any national or regional securities exchange or have been registered under Section 12(g) of the Securities Exchange Act of 1934 and (y) the Executive does not beneficially own (as defined in Rule 13d-3 promulgated under the Securities Exchange ActAct of 1934) in excess of 5% of the outstanding capital stock of such enterprise. The Executive agrees that if a court of competent jurisdiction determines that the length of time or any other restriction, or portion thereof, set forth in this section Section 12 is overly restrictive and unenforceable, the court may reduce or modify such restrictions to those which it deems reasonable and enforceable under the circumstances, and as so reduced or modified, the parties hereto agree that the restrictions of this section Section 12 shall remain in full force and effect. The Executive further agrees that if a court of competent jurisdiction determines that any provision of this section Section 12 is invalid or against public policy, the remaining provisions of this section Section 12 and the remainder of this Agreement shall not be affected thereby, and shall remain in full force and effect. The Executive acknowledges that the business of the Company is national in scope and that the restrictions imposed by this Agreement are legitimate, reasonable and necessary to protect the Company's and its affiliated companies' investment in their business its businesses and the goodwill thereof. The Executive acknowledges that the scope and duration of the restrictions contained herein are reasonable in light of the time that the Executive has been engaged in the business of the Company and its affiliated companies Company, the Executive's reputation in the markets for the Company's businesses and the Executive's relationship with the suppliers, customers and clients of the Company and its affiliated companiesCompany. The Executive further acknowledges that the restrictions contained herein are not burdensome to the Executive in light of the consideration paid therefor and the other opportunities that remain open to the Executive. Moreover, the Executive acknowledges that he has other means available to him for the pursuit of his livelihood.

No Competition. During the Term and, unless the Agreement terminates pursuant to Section 5(a) or 5(e), through the first anniversary of the expiration thereof, the Executive shall not directly or indirectly engage in any business which is competitive with any of those business activities in which the Company or its affiliated companies were engaged directly or indirectly during the Term of the Agreement; provided, however, that the restriction in this section shall apply to the reasonable and limited 14 15 geographic area consisting of any state in which the Company or its affiliated companies directly or indirectly has offices, operations or customers, or otherwise conducts business. For purposes of this section, the Executive shall be deemed to engage in a business if he directly or indirectly engages or invests in, owns, manages, operates, controls or participates in the ownership, management, operation or control of, is employed by, associated or in any manner connected with, or renders services or advice to, any enterprise engaged in any business which is competitive with any of those business activities in which the Company or its affiliated companies were engaged directly or indirectly during the Term of the Agreement; provided, however, that the Executive may invest in the securities of any enterprise (but without otherwise participating in the activities of such enterprise) if (x) such securities are listed on any national or regional securities exchange or have been registered under Section 12(g) of the Exchange Act and (y) the Executive does not beneficially own (as defined in Rule 13d-3 promulgated under the Exchange Act) in excess of 5% of the outstanding capital stock of such enterprise. The Executive agrees that if a court of competent jurisdiction determines that the length of time or any other restriction, or portion thereof, set forth in this section is overly restrictive and unenforceable, the court may reduce or modify such restrictions to those which it deems reasonable and enforceable under the circumstances, and as so reduced or modified, the parties hereto agree that the restrictions of this section shall remain in full force and effect. The Executive further agrees that if a court of competent jurisdiction determines that any provision of this section is invalid or against public policy, the remaining provisions of this section and the remainder of this Agreement shall not be affected thereby, and shall remain in full force and effect. The Executive acknowledges that the restrictions imposed by this Agreement are legitimate, reasonable and necessary to protect the Company's and its affiliated companies' investment in their business and the goodwill thereof. The Executive acknowledges that the scope and duration of the restrictions contained herein are reasonable in light of the time that the Executive has been engaged in the business of the Company and its affiliated companies and the Executive's relationship with the suppliers, customers and clients of the Company and its affiliated companies. The Executive further acknowledges that the restrictions contained herein are not burdensome to the Executive in light of the consideration paid therefor and the other opportunities that remain open to the Executive. Moreover, the Executive acknowledges that he has other means available to him for the pursuit of his livelihood.

No Competition. During Throughout the Term and, unless the Agreement terminates pursuant to Section 5(a) or 5(e), through the first anniversary term of the expiration thereofthis Agreement, the Executive shall not directly or indirectly engage in the business of banking, or any other business which is competitive with any of those business activities in which the Company or its affiliated companies were engaged directly or indirectly engages during the Term term of the this Agreement; provided, however, that the restriction in this section Section 12 shall apply only to the reasonable and limited geographic area consisting of any state in which the Company or its affiliated companies directly or indirectly has offices, operations operations, or customers, or otherwise conducts business. For purposes of this sectionSection 12, the Executive shall be deemed to engage in a business if he directly or indirectly indirectly, engages or invests in, owns, manages, operates, controls or participates in the ownership, management, operation or control of, is employed by, associated or in any manner connected with, or renders services or advice to, any enterprise business engaged in any business which is competitive with any of those business activities in which the Company or its affiliated companies were engaged directly or indirectly during the Term of the Agreementbanking; providedProvided, howeverHowever, that the Executive may invest in the securities of any enterprise (but without otherwise participating in the activities of such enterprise) if (x) such securities are listed on any national or regional securities exchange or have been registered under Section 12(g) of the Securities Exchange Act of 1934 and (y) the Executive does not beneficially own (as defined in Rule 13d-3 promulgated under the Securities Exchange ActAct of 1934) in excess of 5% of the outstanding capital stock of such enterprise. The Executive agrees that if a court of competent jurisdiction determines that the length of time or any other restriction, or portion thereof, set forth in this section Section 12 is overly restrictive and unenforceable, the court may reduce or modify such restrictions to those which it deems reasonable and enforceable under the circumstances, and as so reduced or modified, the parties hereto agree that the restrictions of this section Section 12 shall remain in full force and effect. The Executive further agrees that if a court of competent jurisdiction determines that any provision of this section Section 12 is invalid or against public policy, the remaining provisions of this section Section 12 and the remainder of this Agreement shall not be affected thereby, and shall remain in full force and effect. The Executive acknowledges that the business of the Company is national in scope and that the restrictions imposed by this Agreement are legitimate, reasonable and necessary to protect the Company's and its affiliated companies' investment in their business its businesses and the goodwill thereof. The Executive acknowledges that the scope and duration of the restrictions contained herein are reasonable in light of the time that the Executive has been engaged in the business of the Company and its affiliated companies Company, the Executive's reputation in the markets for the Company's businesses and the Executive's relationship with the suppliers, customers and clients of the Company and its affiliated companiesCompany. The Executive further acknowledges that the restrictions contained herein are not burdensome to the Executive in light of the consideration paid therefor and the other opportunities that remain open to the Executive. Moreover, the Executive acknowledges that he has other means available to him for the pursuit of his livelihood.

No Competition. During Until October 6, 2005, and while employed by the Term and, unless the Agreement terminates pursuant to Section 5(a) or 5(e), through the first anniversary of the expiration thereofCompany, the Executive shall not directly or indirectly engage in the business of operating a state or national bank or company providing similar services, or any other business which is competitive with any of those business activities in which any member of the Company or its affiliated companies were engaged Group directly or indirectly engages during the Term of the AgreementEmployment Term; provided, however, that the restriction in this section Section 12 shall apply only to the reasonable and limited geographic area consisting of any state in which where any member of the Company Group has an office, bank location or its affiliated companies directly or indirectly place of business, and Texas and any state that has offices, operations or customers, or otherwise conducts businessa contiguous border with the State of Texas. For purposes of this sectionSection 12, the Executive shall be deemed to engage in such a business if he directly or indirectly indirectly, engages or invests in, owns, manages, operates, controls or participates in the ownership, management, operation or control of, is employed by, associated or in any manner connected with, or renders services or advice to, any enterprise business engaged in operating a state or national bank or other company providing similar services to those provided by the any business which is competitive with any member of those business activities in which the Company or its affiliated companies were engaged directly or indirectly Group during the Term of the AgreementEmployment Term; provided, however, that the Executive may invest in the securities of any enterprise (but without otherwise participating in the activities of such enterprise) if (x) such securities are listed on any national or regional securities exchange or have been registered under Section 12(g) 12 of the Securities Exchange Act of 1934 and (y) the Executive does not beneficially own (as defined in Rule 13d-3 promulgated under the Securities Exchange ActAct of 1934) in excess of 5% of the outstanding capital stock of such enterprise. The Executive agrees that if a court of competent jurisdiction determines that the length of time or any other restriction, or portion thereof, set forth in this section Section 12 is overly restrictive and unenforceable, the court may reduce or modify such restrictions to those which it deems reasonable and enforceable under the circumstances, and as so reduced or modified, the parties hereto agree that the restrictions of this section Section 12 shall remain in full force and effect. The Executive further agrees that if a court of competent jurisdiction determines that any provision of this section Section 12 is invalid or against public policy, the remaining provisions of this section Section 12 and the remainder of this Agreement shall not be affected thereby, and shall remain in full force and effect. The Executive acknowledges that the business of the Company and its Affiliates is national in scope and that the restrictions imposed by this Agreement are legitimate, reasonable and necessary to protect the Company's and its affiliated companiesaffiliates' investment in their business businesses and the goodwill thereof. The Executive acknowledges that the scope and duration of the restrictions contained herein are reasonable in light of the time that the Executive has been engaged in the business of the Company and its affiliated companies affiliates, the Executive's reputation in the markets for the Company's and its affiliates' businesses and the Executive's relationship with the suppliers, customers and clients of the Company and its affiliated companiesaffiliates. The Executive further acknowledges that the restrictions contained herein are not burdensome to the Executive in light of the consideration paid therefor and the other opportunities that remain open to the Executive. Moreover, the Executive acknowledges that he has other means available to him for the pursuit of his livelihoodtherefor.