Common use of Non-Compete Provision Clause in Contracts

Non-Compete Provision. The Director shall forfeit any undistributed interest credited to the deferred amounts since the date of execution of this Agreement under this Agreement if during the term of this Agreement, and before all benefits have been paid, the Director, directly or indirectly, either as an individual or as a proprietor, stockholder, partner, officer, director, employee, agent, consultant or independent contractor of any individual, partnership, corporation or other entity (excluding an ownership interest of three percent (3%) or less in the stock of a publicly-traded company): (i) becomes employed by, participates in, or becomes connected in any manner with the ownership, management, operation or control of any bank, savings and loan or other similar financial institution if the Director’s responsibilities will include providing banking or other financial services within the fifty (50) miles of any office maintained by the Company as of the date of the termination of the Director’s service; (ii) participates in any way in hiring or otherwise engaging, or assisting any other person or entity in hiring or otherwise engaging, on a temporary, part-time or permanent basis, any individual who was employed by the Company as of the date of termination of the Director’s service; (iii) assists, advises, or serves in any capacity, representative or otherwise, any third party in any action against the Company or transaction involving the Company; (iv) sells, offers to sell, provides banking or other financial services, assists any other person in selling or providing banking or other financial services, or solicits or otherwise competes for, either directly or indirectly, any orders, contract, or accounts for services of a kind or nature like or substantially similar to the financial services performed or financial products sold by the Company (the preceding hereinafter referred to as “Services”), to or from any person or entity from whom the Director or the Company, to the knowledge of the Director provided banking or other financial services, sold, offered to sell or solicited orders, contracts or accounts for Services during the three (3) year period immediately prior to the termination of the Director’s service; (v) divulges, discloses, or communicates to others in any manner whatsoever, any confidential information of the Company, to the knowledge of the Director, including, but not limited to, the names and addresses of customers or prospective customers, of the Company, as they may have existed from time to time, of work performed or services rendered for any customer, any method and/or procedures relating to projects or other work developed for the Company, earnings or other information concerning the Company. The restrictions contained in this subparagraph (v) apply to all information regarding the Company, regardless of the source who provided or compiled such information. Notwithstanding anything to the contrary, all information referred to herein shall not be disclosed unless and until it becomes known to the general public from sources other than the Director.

Non-Compete Provision. The Director shall forfeit any undistributed interest credited to the deferred amounts since the date of execution of this Agreement unpaid benefits under this Agreement if during the term of this Agreement, and before all benefits have been paid, the Director, directly or indirectly, either as an individual or as a proprietor, stockholder, partner, officer, director, employee, agent, consultant or independent contractor of any individual, partnership, corporation or other entity (excluding an ownership interest of three percent (3%) or less in the stock of a publicly-traded company): (i) becomes employed by, participates in, or becomes connected in any manner with the ownership, management, operation or control of any bank, savings and loan or other similar financial institution if the Director’s responsibilities will include providing banking or other financial services within the fifty twenty-five (5025) miles of any office maintained by the Company Bank as of the date of the termination of the Director’s serviceSeparation from Service; (ii) participates in any way in hiring or otherwise engaging, or assisting any other person or entity in hiring or otherwise engaging, on a temporary, part-time or permanent basis, any individual who was employed by the Company Bank as of the date of termination of the Director’s serviceSeparation from Service; (iii) assists, advises, or serves in any capacity, representative or otherwise, any third party in any action against the Company Bank or transaction involving the CompanyBank; (iv) sells, offers to sell, provides banking or other financial services, assists any other person in selling or providing banking or other financial services, or solicits or otherwise competes for, either directly or indirectly, any orders, contract, or accounts for services of a kind or nature like or substantially similar to the financial services performed or financial products sold by the Company Bank (the preceding hereinafter referred to as “Services”), to or from any person or entity from whom the Director or the CompanyBank, to the knowledge of the Director Director, provided banking or other financial services, sold, offered to sell or solicited orders, contracts or accounts for Services during the three (3) year period immediately prior to the termination of the Director’s serviceSeparation from Service; (v) divulges, discloses, or communicates to others in any manner whatsoever, any confidential information of the CompanyBank, to the knowledge of the Director, including, but not limited to, the names and addresses of customers or prospective customers, customers of the CompanyBank, as they may have existed from time to time, of work performed or services rendered for any customer, any method and/or procedures relating to projects or other work developed for the CompanyBank, earnings or other information concerning the CompanyBank. The restrictions contained in this subparagraph (v) apply to all information regarding the CompanyBank, regardless of the source who provided or compiled such information. Notwithstanding anything to the contrary, all information referred to herein shall not be disclosed unless and until it becomes known to the general public from sources other than the Director.

Non-Compete Provision. The Director Executive shall forfeit any undistributed interest credited to the deferred amounts since the date not, for a period of execution 12 months following termination of this Agreement under this Agreement if during the term of this Agreement, and before all benefits have been paid, the Directoremployment, directly or indirectly, either as an individual or as a proprietor, stockholder, partner, officer, trustee, director, employee, agent, consultant or independent contractor of any individual, partnership, corporation or other entity (excluding an ownership interest of three five percent (35%) or less in the stock of a publicly-traded company): (i) becomes become employed by, participates participate in, or becomes be connected in any manner with the ownership, management, operation or control of any bank, savings and loan or other similar financial institution if the DirectorExecutive’s responsibilities will include providing banking or other financial services within the fifty twenty-five (5025) miles mile radius of any the main office maintained by the Company Bank as of the date of the termination of the DirectorExecutive’s serviceemployment; (ii) participates participate in any way in hiring or otherwise engaging, or assisting any other person or entity in hiring or otherwise engaging, on a temporary, part-time or permanent basis, any individual who was employed by the Company Bank as of the date of termination of the DirectorExecutive’s serviceemployment; (iii) assistssell, advises, or serves in any capacity, representative or otherwise, any third party in any action against the Company or transaction involving the Company; (iv) sells, offers offer to sell, provides provide banking or other financial services, assists assist any other person in selling or providing banking or other financial services, or solicits solicit or otherwise competes compete for, either directly or indirectly, any orders, contractcontracts, or accounts for services of a kind or nature like or substantially similar to the financial services performed or financial products sold by the Company Bank (the preceding hereinafter referred to as “Services”), to or from any person or entity from whom the Director Executive or the CompanyBank, to the knowledge of the Director Executive, provided banking or other financial services, sold, offered to sell or solicited orders, contracts or accounts for Services during the three (3) year period immediately prior to the termination of the DirectorExecutive’s service;employment; or (viv) divulgesdivulge, disclosesdisclose, or communicates communicate to others in any manner whatsoever, any nonpublic confidential information of the Company, to Corporation or the knowledge Bank or any of the Directorits subsidiaries, including, but not limited to, the names and addresses of customers or prospective customers, of the CompanyBank or any of its subsidiaries, as they may have existed from time to time, of work performed or services rendered for any customer, any method and/or procedures relating to projects or other work developed for the CompanyBank or any of its subsidiaries, earnings or other information concerning the CompanyCorporation or the Bank or any of its subsidiaries. The restrictions contained in this subparagraph (viv) apply to all nonpublic confidential information regarding the CompanyCorporation or the Bank, regardless of the source who provided or compiled such information. Notwithstanding anything to the contrary, all information referred to herein the restriction set forth in this paragraph shall not be disclosed unless and until it apply to any information that becomes known to the general public from sources other than the DirectorExecutive.

Non-Compete Provision. The Director Executive shall forfeit any undistributed interest credited to the deferred amounts since the date of execution of this Agreement under this Agreement if during not, for the term of this Agreement, Agreement and before until all benefits have been paid, the Directordistributed, directly or indirectly, either as an individual or as a proprietor, stockholder, partner, officer, director, employee, agent, consultant or independent contractor of any individual, partnership, corporation or other entity (excluding an ownership interest of three one percent (31%) or less in the stock of a publicly-publicly traded company): (i) becomes become employed by, participates participate in, or becomes be connected in any manner with the ownership, management, operation or control of any bank, savings and loan or other similar financial institution if the Director’s Executive's responsibilities will include providing banking or other financial services within the fifty (50) miles of any office maintained by the Company as of the date of the termination of the Director’s service;services; or (ii) participates participate in any way in hiring or otherwise engaging, or assisting any other person or entity in hiring or otherwise engaging, on a temporary, part-time or permanent basis, any individual who was employed by the Company as Corporation or any of its subsidiaries during the date of three (3) year period immediately prior to the termination of the Director’s service;Executive's employment; or (iii) assistsassist, advisesadvise, or serves serve in any capacity, representative or otherwise, any third party in any action against the Company Corporation or any of its subsidiaries or transaction involving the Company;Corporation or any of its subsidiaries; or (iv) sellssell, offers offer to sell, provides provide banking or other financial services, assists assist any other person in selling or providing banking or other financial services, or solicits solicit or otherwise competes compete for, either directly or indirectly, any orders, contract, or accounts for services of a kind or nature like or substantially similar to the financial services performed or financial products sold by the Company Corporation or any of its subsidiaries (the preceding hereinafter referred to as “"Services”"), to or from any person or entity from whom the Director Executive or the Company, to the knowledge Corporation or any of the Director its subsidiaries provided banking or other financial services, sold, offered to sell or solicited orders, contracts or accounts for Services during the three (3) year period immediately prior to the termination of the Director’s service;Executive's employment; or (v) divulgesdivulge, disclosesdisclose, or communicates communicate to others in any manner whatsoever, any confidential information of the Company, to the knowledge Corporation or any of the Directorits subsidiaries, including, but not limited to, the names and addresses of customers or prospective customers, of the CompanyCorporation or any of its subsidiaries, as they may have existed from time to timetime or of any of the Corporation's or any of its subsidiaries prospective customers, of work performed or services rendered for any customer, any method and/or procedures relating to projects or other work developed for the CompanyCorporation or any of its subsidiaries, earnings or other information concerning the CompanyCorporation or any of its subsidiaries. The restrictions contained in this subparagraph (v) apply to all information regarding the CompanyCorporation or any of its subsidiaries, regardless of the source who provided or compiled such information. Notwithstanding anything to the contrary, all information referred to herein shall not be disclosed unless and until it becomes known to the general public from sources other than the DirectorExecutive.

Non-Compete Provision. The Director Executive shall forfeit any undistributed interest credited to the deferred amounts since the date not, for a period of execution 12 months following termination of this Agreement under this Agreement if during the term of this Agreement, and before all benefits have been paid, the Directoremployment, directly or indirectly, either as an individual or as a proprietor, stockholder, partner, officer, trustee, director, employee, agent, consultant or independent contractor of any individual, partnership, corporation or other entity (excluding an ownership interest of three five percent (35%) or less in the stock of a publicly-traded company): (i) becomes become employed by, participates participate in, or becomes be connected in any manner with the ownership, management, operation or control of any bank, savings and loan or other similar financial institution if the Director’s Executive's responsibilities will include providing banking or other financial services within the fifty twenty-five (5025) miles mile radius of any the main office maintained by the Company Bank as of the date of the termination of the Director’s serviceExecutive's employment; (ii) participates participate in any way in hiring or otherwise engaging, or assisting any other person or entity in hiring or otherwise engaging, on a temporary, part-time or permanent basis, any individual who was employed by the Company Bank as of the date of termination of the Director’s serviceExecutive's employment; (iii) assistssell, advises, or serves in any capacity, representative or otherwise, any third party in any action against the Company or transaction involving the Company; (iv) sells, offers offer to sell, provides provide banking or other financial services, assists assist any other person in selling or providing banking or other financial services, or solicits solicit or otherwise competes compete for, either directly or indirectly, any orders, contractcontracts, or accounts for services of a kind or nature like or substantially similar to the financial services performed or financial products sold by the Company Bank (the preceding hereinafter referred to as “"Services”"), to or from any person or entity from whom the Director Executive or the CompanyBank, to the knowledge of the Director Executive, provided banking or other financial services, sold, offered to sell or solicited orders, contracts or accounts for Services during the three (3) year period immediately prior to the termination of the Director’s service;Executive's employment; or (viv) divulgesdivulge, disclosesdisclose, or communicates communicate to others in any manner whatsoever, any nonpublic confidential information of the Company, to Corporation or the knowledge Bank or any of the Directorits subsidiaries, including, but not limited to, the names and addresses of customers or prospective customers, of the CompanyBank or any of its subsidiaries, as they may have existed from time to time, of work performed or services rendered for any customer, any method and/or procedures relating to projects or other work developed for the CompanyBank or any of its subsidiaries, earnings or other information concerning the CompanyCorporation or the Bank or any of its subsidiaries. The restrictions contained in this subparagraph (viv) apply to all nonpublic confidential information regarding the CompanyCorporation or the Bank, regardless of the source who provided or compiled such information. Notwithstanding anything to the contrary, all information referred to herein the restriction set forth in this paragraph shall not be disclosed unless and until it apply to any information that becomes known to the general public from sources other than the DirectorExecutive.

Non-Compete Provision. The Director Executive shall forfeit any undistributed interest credited to the deferred amounts since the date of execution of this Agreement under this Agreement if during not, for the term of this Agreement, Agreement and before until all benefits hereunder have been paid, the Directordistributed, directly or indirectly, either as an individual or as a proprietor, stockholder, partner, officer, director, employee, agent, consultant or independent contractor of any individual, partnership, corporation or other entity (excluding an ownership interest of three one percent (31%) or less in the stock of a publicly-traded company): (i) becomes become employed by, participates participate in, or becomes connected in any manner with the ownership, management, operation or control of any bank, savings and loan or other similar financial institution if the DirectorExecutive’s responsibilities will include providing banking or other financial services within the fifty (50) miles of any office maintained by the Company Corporation or any of its subsidiaries as of the date of the termination of the DirectorExecutive’s serviceemployment; (ii) participates participate in any way in hiring or otherwise engaging, or assisting any other person or entity in hiring or otherwise engaging, on a temporary, part-time or permanent basis, any individual who was employed by the Company as Corporation or any of its subsidiaries during the date of three (3) years preceding the termination of the DirectorExecutive’s serviceemployment; (iii) assistsassist, advisesadvise, or serves serve in any capacity, representative or otherwise, any third party in any action against the Company Corporation or any of its subsidiaries or transaction involving the CompanyCorporation or any of its subsidiaries; (iv) sellssell, offers offer to sell, provides provide banking or other financial services, assists assist any other person in selling or providing banking or other financial services, or solicits solicit or otherwise competes compete for, either directly or indirectly, any orders, contract, or accounts for services of a kind or nature like or substantially similar to the financial services performed or financial products sold by the Company Corporation or any of its subsidiaries (the preceding hereinafter referred to as “Services”), to or from any person or entity from whom the Director Executive or the CompanyCorporation or any of its subsidiaries, to the knowledge of the Director Executive provided banking or other financial services, sold, offered to sell or solicited orders, contracts or accounts for Services during the three (3) year period immediately prior to the termination of the DirectorExecutive’s serviceemployment; (v) divulgesdivulge, disclosesdisclose, or communicates communicate to others in any manner whatsoever, any confidential information of the CompanyCorporation or any of its subsidiaries, to the knowledge of the DirectorExecutive, including, but not limited to, the names and addresses of customers or prospective customers, of the CompanyCorporation or any of its subsidiaries, as they may have existed from time to time, of work performed or services rendered for any customer, any method and/or procedures relating to projects or other work developed for the CompanyCorporation or any of its subsidiaries, earnings or other information concerning the CompanyCorporation or any of its subsidiaries. The restrictions contained in this subparagraph subsection (v) apply to all information regarding the CompanyCorporation or any of its subsidiaries, regardless of the source who that provided or compiled such information. Notwithstanding anything to the contrary, all information referred to herein shall not be disclosed unless and until it becomes known to the general public from sources other than the DirectorExecutive.

Non-Compete Provision. The Director shall forfeit any undistributed interest credited to the deferred amounts since the date of execution of this Agreement unpaid benefits under this Agreement if during the term of this Agreement, and before all benefits have been paid, the Director, directly or indirectly, either as an individual or as a proprietor, stockholder, partner, officer, director, employee, agent, FORM OF MALVERN FEDERAL SAVINGS BANK Director Retirement Plan Agreement consultant or independent contractor of any individual, partnership, corporation or other entity (excluding an ownership interest of three percent (3%) or less in the stock of a publicly-traded company): (i) becomes employed by, participates in, or becomes connected in any manner with the ownership, management, operation or control of any bank, savings and loan or other similar financial institution if the Director’s responsibilities will include providing banking or other financial services within the fifty twenty-five (5025) miles of any office maintained by the Company Bank as of the date of the termination of the Director’s service; (ii) participates in any way in hiring or otherwise engaging, or assisting any other person or entity in hiring or otherwise engaging, on a temporary, part-time or permanent basis, any individual who was employed by the Company Bank as of the date of termination of the Director’s service; (iii) assists, advises, or serves in any capacity, representative or otherwise, any third party in any action against the Company Bank or transaction involving the CompanyBank; (iv) sells, offers to sell, provides banking or other financial services, assists any other person in selling or providing banking or other financial services, or solicits or otherwise competes for, either directly or indirectly, any orders, contract, or accounts for services of a kind or nature like or substantially similar to the financial services performed or financial products sold by the Company Bank (the preceding hereinafter referred to as “Services”), to or from any person or entity from whom the Director or the CompanyBank, to the knowledge of the Director provided banking or other financial services, sold, offered to sell or solicited orders, contracts or accounts for Services during the three (3) year period immediately prior to the termination of the Director’s service; (v) divulges, discloses, or communicates to others in any manner whatsoever, any confidential information of the CompanyBank, to the knowledge of the Director, including, but not limited to, the names and addresses of customers or prospective customers, of the CompanyBank, as they may have existed from time to time, of work performed or services rendered for any customer, any method and/or procedures relating to projects or other work developed for the CompanyBank, earnings or other information concerning the CompanyBank. The restrictions contained in this subparagraph (v) apply to all information regarding the CompanyBank, regardless of the source who provided or compiled such information. Notwithstanding anything to the contrary, all information referred to herein shall not be disclosed unless and until it becomes known to the general public from sources other than the Director.