Noncompetition Provision. Executive acknowledges that the development of personal contacts and relationships is an essential element of the savings and loan business, that Employers has invested considerable time and money in his development of such contacts and relationships, that Employers could suffer irreparable harm if he were to leave employment and solicit the business of the Employers customers, and that it is reasonable to protect the Employers against competitive activities by Executive. Executive covenants and agrees, in recognition of the foregoing and in consideration of the mutual promises contained herein, that in the event of a voluntary termination of employment by Executive pursuant to Section 5(iii), or upon expiration of this Agreement as a result of Executive's election (but not as the result of an election by Employers) not to continue automatic annual renewals, Executive shall not accept employment with any Significant Competitor of Bank for a period of twelve (12) months following such termination. For purposes of this Agreement, the term Significant Competitor means any financial institution including, but not limited to, any commercial bank, savings bank, savings and loan association, credit union, or mortgage banking corporation which, at the time of termination of Executive's employment, or during the period of this covenant not to compete, has a home, branch or other office in Milwaukee County or which has, during the twelve (12) months preceding Executive's termination, originated, or which during the period of this covenant not to compete originates, more than $50,000,000 in commercial or mortgage loans secured by real property in any such county. Executive agrees that the non-competition provisions set forth herein are necessary for the protection of the Employers and are reasonably limited as to (i) the scope of activities affected, (ii) their duration and geographic scope, and (iii) their effect on Executive and the public. In the event Executive violates the non-competition provisions set forth herein, the Employers shall be entitled, in addition to its other legal remedies, to enjoin the employment of Executive with any Significant Competitor for the period set forth herein. If Executive violates this covenant and the Employers bring legal action for injunctive or other relief, the Employers shall not, as a result of the time involved in obtaining such relief, be deprived of the benefit of the full period of the restrictive covenant. Accordingly,...
Noncompetition Provision. In further consideration of employment, the Employee shall not engage in a business in any manner similar to or in competition with the Company's or the Company's affiliated businesses during the term of his or her employment Furthermore, the Employee shall not engage in a business in any manner similar to or in competition with the Company's business for a period of ( ) years from the date of termination of his or her employment with the Company in the geographical area within a ( )-mile radius of any present or future office opened by the Company during the term of employment and the geographical area within a ( )-mile radius of the Employee’s home address. The Employee shall not request any customers of any business then being conducted or contemplated by the Company or its affiliates to curtail or cancel their business with the Company or its affiliates. The Employee shall not disclose to any person, firm or corporation any trade, technical or technological secrets, any details of organizations or business affairs, any names of past or present customers of the Company or its affiliates or any other information relating to the business or businesses or their affiliates The Employee shall not solicit, canvass or accept any business or transaction for any other person, firm or corporation or business similar to any business of the Company or its affiliates. The Employee shall not induce, or attempt to influence, any employee of the business or its affiliates to terminate employment with the business or its affiliates or to enter into any employment or other business relationship with any other person (including the Employee), firm or corporation, The Employee shall not act or conduct himself or herself in any manner that he or she shall have reason to believe is inimical or contrary to the interests of the Company or its affiliates. The Employee shall not perform any act in violation hereof through any other person or entity or through any plan, scheme or design calculated to circumvent the requirements hereof The Employee acknowledges and agrees that the above restriction is reasonable as to duration and geography, that it is fully enforceable, and waives any objection thereto and covenants to institute no suit or proceeding or otherwise advance any position or contention to the contrary. The Employee recognizes that immediate and irreparable damage will result to the Company if the Employee breaches any of the terms and conditions of this article and, a...
Noncompetition Provision. Executive acknowledges that the development of personal contacts and relationships is an essential element of the savings and loan business, that Employers has invested considerable time and money in his development of such contacts and relationships, that Employers could suffer irreparable harm if he were to leave employment and solicit the business of the Employers customers, and that it is reasonable to protect the Employers against competitive activities by Executive. Executive covenants and agrees, in recognition of the foregoing and in consideration of the mutual promises contained herein, that in the event of a voluntary termination of employment by Executive pursuant to
Noncompetition Provision. During the term of this Agreement (including any monthly extension of the initial term as contemplated in Section 5) and for ninety (90) days thereafter, the Consultant shall not, except with the prior written consent of the Corporation, which may be withheld in the Corporation's sole discretion, engage, as an employee, consultant, equity owner or partner, in any business activities anywhere in the world which are directly competitive with those of the Corporation. Notwithstanding this restriction, the Consultant shall not be prohibited from engaging in any business activities in which his sole connection to such business activities is the passive ownership of less than 10% of the outstanding equity interests of the entity involved, and he may exceed this 10% ownership threshold with the written consent of the Corporation. This provision shall not affect the Consultant's ownership or service as an officer or director of Xxxxx Xxxxx & Associates, Inc., but the Consultant's activities as a shareholder, officer and director of Xxxxx Xxxxx & Associates, Inc. shall not be exempt from the provisions of this Section 8.
Noncompetition Provision. Executive acknowledges that the development of personal contacts and relationships is an essential element in the financial services industry, that the Company has invested considerable time and money in his development of such contacts and relationships, that the Company could suffer irreparable harm if he were to leave employment and solicit the business of Company customers, and that it is reasonable to protect the Company against competitive activities by Executive. Executive covenants and agrees, in recognition of the foregoing and in consideration of the mutual promises contained herein, that in the event of a voluntary termination of employment by Executive pursuant to Section 5(iii) of the Bank Agreement, or upon expiration of the Bank Agreement as a result of Executive's election (but not as the result of an election by the Company) not to continue automatic annual renewals, Executive shall not accept employment with any Significant Competitor of the Bank or Company for a period of twelve (12) months following such termination. For purposes of this Agreement, the term Significant Competitor means any financial institution including, but not limited to, any commercial bank, savings bank, savings and loan association, credit union, or mortgage banking corporation which, at the time of termination of this Agreement, or during the period of this covenant not to compete, has a home, branch or other office in Milwaukee County or which has, during the twelve (12) months preceding Executive's termination, originated, or which during the period of this covenant not to compete originates, more than $50,000,000 in commercial or mortgage loans secured by real property in any such county.
Noncompetition Provision. (a) In consideration of Buyer entering into this Agreement, Symantec hereby agrees with Buyer (and for the purposes of this clause, Buyer includes any associated, subsidiary, related or affiliate company) that for a two year period following the Closing (the "NONCOMPETE PERIOD"), Symantec will not, directly or indirectly, (except with the prior written consent of Buyer) or in any other capacity whatsoever of or for any person, firm, partnership, company or corporation other than Buyer:
Noncompetition Provision. (a) Subsidiary, Corporation, any subsidiaries and/or affiliated entities of Subsidiary and Corporation, and any shareholder thereof owing more than Ten percent (10%) of the outstanding shares of any or all of the foregoing (collectively referred to as "PBI Affiliates") each agree that they will not at any time within the 5-year period immediately following the Closing Date, directly or indirectly, engage in, or have any interest in any person, firm, corporation, or business (whether as an employee, officer, director, agent, security holder, creditor, consultant, or otherwise) that engages in any activity which activity is the same as, similar to, or competitive with any activity now engaged in by Subsidiary in any market or geographic location where Buyer or Subsidiary was doing business within the Five (5) years prior to the Closing Date, nor shall the PBI Affiliates, or any of them, solicit, or attempt to solicit, any employees or customers of Buyer or the PBI Affiliates for Five (5) years following the Closing Date.
Noncompetition Provision. The Executive agrees that during the Term and following (i) the Executive’s removal from the Titled Position by the Company’s Board of Directors and separation from service, whether with or without Cause; (ii) the Executive’s resignation, whether with or without Good Reason; or (iii) the non-renewal of a Term of the Agreement by the Company, the Executive will not, during the Severance Period, directly or indirectly, own, manage, operate, control, consult with, be employed by or otherwise provide services to, or participate in the ownership, management, operation or control of, any person or entity who engages in or intends to engage in the conduct of a Competitive Business. For purposes of the Agreement, “Competitive Business” shall mean (i) investing in mortgage-backed securities collateralized by residential mortgages which are guaranteed by Fxxxxx Mxx, Fxxxxxx Mac or Gxxxxx Mae (“Agency RMBS”), (ii) investing primarily in non-Agency RMBS within securitized products and residential mortgage loan markets in the United States, (iii) originating and investing in commercial mortgage loans, securities, and other commercial real estate debt and equity investments in the United States, (iv) providing financing to private equity-backed middle market businesses in the United States, or (v) any other line of business activities in which the Company is engaged at the time of the Executive’s removal or resignation or non-renewal (each of (ii), (iii), (iv) and (v), a “Non-Agency Business”), but only if, as of the end of the fiscal year of the Company immediately preceding the date of the Executive’s termination of service, the equity capital of the Company (including shareholders’ equity) attributable to such Non-Agency Business constitutes more than 10% of the total shareholders’ equity of the Company (including capital stock, additional paid-in capital and retained earnings). The restrictive covenant described above shall not supersede any restrictive covenants to which the Executive is bound under the terms of any other agreement with Manager, including but not limited to the Management Agreement and any Employment Agreement. For the avoidance of doubt, following any termination, the Executive will not be precluded from (i) being employed by any business that is not engaged in a Competitive Business, (ii) being employed by any business that is engaged in a Competitive Business but for which the Executive does not provide any services relating to the division or l...
Noncompetition Provision. Each of the Company and the Executive confirms that Section 5 of the Letter Agreement reflects all of the noncompetition provisions to which the Company and the Executive have agreed.
Noncompetition Provision. In recognition of the highly competitive nature of the Company's business, Employee agrees that (i) as long as Employee is an employee or officer of the Company and (ii) for two years after Employee's termination of employment with the Company (unless Employee's employment is terminated by the Company without cause, in which case this Section 2 shall not apply to competitive action occurring after the termination of Employee's employment);
