Non-Compete During the term of this Agreement and for a period of twelve (12) months following the Director’s removal or resignation from the Board of Directors of the Company or any of its subsidiaries or affiliates (the “Restricted Period”), the Director shall not, directly or indirectly, (i) in any manner whatsoever engage in any capacity with any business competitive with the Company’s current lines of business or any business then engaged in by the Company, any of its subsidiaries or any of its affiliates (the “Company’s Business”) for the Director’s own benefit or for the benefit of any person or entity other than the Company or any subsidiary or affiliate; or (ii) have any interest as owner, sole proprietor, stockholder, partner, lender, director, officer, manager, employee, consultant, agent or otherwise in any business competitive with the Company’s Business; provided, however, that the Director may hold, directly or indirectly, solely as an investment, not more than one percent (1%) of the outstanding securities of any person or entity which is listed on any national securities exchange or regularly traded in the over-the-counter market notwithstanding the fact that such person or entity is engaged in a business competitive with the Company’s Business. In addition, during the Restricted Period, the Director shall not develop any property for use in the Company’s Business on behalf of any person or entity other than the Company, its subsidiaries and affiliates.
Non-Competition Through the date on which the Employee's employment with the Company is terminated (the "Termination Date") and, in the event that the Employee's employment with the Company is terminated other than (i) by the Company pursuant to Sections 9(b) (termination by the Company without Good Cause) or 9(g) (termination by the Company following a Change of Control) or (ii) by the Employee pursuant to Sections 9(d) (termination by the Employee following loss of Board seat) or 9(g) (termination by the Employee following a Change of Control), until the Expiration Date, the Employee will not, directly or indirectly, engage in the business of, or own or control an interest in (except as a passive investor owning less than one percent (1%) of the equity securities of a publicly-owned company), or act as director, officer or employee of, or consultant to, any individual, partnership, joint venture, corporation or other business entity directly or indirectly engaged anywhere in the United States in any Business (as hereinafter defined) competing with the business then being carried on by the Company or its subsidiaries or contemplated by the Company or its subsidiaries to the extent included within the definition of "Business." In the event any of the provisions of this Section 5(a) are unenforceable by law, then the restrictions shall be for such period and such geographic area as a court shall find is necessary to protect the Company. The provisions of this Section 5(a) shall no longer be enforceable in the event the Company either files for bankruptcy or other protection from creditors (which filing is not dismissed within 180 days) or advises its shareholders in a press release and in a filing with the Securities and Exchange Commission that it is ceasing to operate as an ongoing business.