Outside Business Activity Sample Clauses
The Outside Business Activity clause defines the rules and requirements for an employee or contractor engaging in work or business ventures outside of their primary employment with the company. Typically, this clause requires individuals to disclose any external business activities to the employer and may require prior written approval before participating in such activities, especially if they could create a conflict of interest or interfere with job performance. Its core function is to protect the employer’s interests by ensuring transparency and preventing conflicts that could arise from divided loyalties or misuse of company resources.
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Outside Business Activity. The Employee, during the term of his employment by the Company hereunder, shall not undertake or engage in any other employment, occupation or business enterprise in which Employee actively participates. Employee shall at all times keep the Company informed of any outside business activity by him, and shall not engage in any activity that may be in conflict with this Agreement or the Company's business or its best interests.
Outside Business Activity. Section 3 of the Employment Agreement is modified in exchange for ▇▇▇▇▇▇ continuing his employment beyond the 60 days after his notice of resignation. Starting on June 15, 2024, Chaset will not require pre-approval from an ad hoc committee of the Board of Directors to engage in outside business activity. However, Chaset will still be subject to all applicable conflict of interest laws, rules and regulations through the term of his employment.
Outside Business Activity. Regardless of the preceding paragraph, Mr. Coghlan acknowledges that during the salary continuation period ▇▇ ▇▇▇▇ ▇▇ntinue to seek pre-approval from the Company for any outside activities with other groups, organizations, companies, associations, etc., (non-profit or otherwise), in accordance with Compliance policies, regardless of whether he would receive compensation for the activity. For any type of proposed outside business activity, Mr. Coghlan will inform the Company in advance of his anticipat▇▇ ▇▇▇▇▇▇▇▇▇ion, if any, for that activity. Outside business activity is of two forms. The first is participation as a member of the Board of Directors of an organization. Mr. Coghlan will not be approved to serve as a member of the Bo▇▇▇ ▇▇ ▇▇▇▇▇tors of financial services firms in areas that currently compete, or intend to compete, directly and materially with the Company. While Mr. Coghlan will seek pre-approval to participate on the Board ▇▇ ▇▇▇▇▇▇ors of non-profits and non-financial services firms, or financial services firms that do not currently directly compete with the Company, that approval will not unreasonably be withheld. The second form of outside business activity is as a consultant. Consulting services of less than 20 hours a week will not necessarily result in acceleration of the Termination Date, but Mr. Coghlan is required to seek pre-approval for all such activit▇▇▇ ▇▇▇▇ ▇▇▇wab's Compliance Department in any event. Mr. Coghlan will ▇▇▇ ▇e approved to consult for financial s▇▇▇▇▇▇▇ ▇▇▇ms in areas that currently compete, or intend to compete, directly and materially with the Company. Schwab will not unreasonably withhold its consent to Mr. Coghlan performing consulting services for non-profits a▇▇ ▇▇▇-▇▇▇▇▇▇ial services firms, or for financial services firms in areas that do not currently compete, or intend to compete, directly and materially with the Company. Mr. Coghlan agrees to continue complying with all company policies (▇▇▇▇▇ ▇▇sources, information security, compliance etc.), including but not limited to all Compliance policies on outside business activities, up through his Termination Date. If Mr. Coghlan undertakes any activities in violation of paragraph▇ ▇ ▇▇ ▇▇, his Termination Date will be accelerated and all payments under this Agreement shall cease.
Outside Business Activity. Except as declared in Exhibit A, you are not a promoter, substantial stockholder, director, employee or officer of or consultant to a business 1/ To be revised to reflect final deal structure. organized for profit nor will you become a promoter, substantial stockholder, director, employee or officer of, or consultant to such a business while employed by the Company without first obtaining the prior written approval of the President and CEO of MSA. Should you become a promoter, substantial stockholder, director, employee or officer of, or a consultant to a business organized for profit upon obtaining such prior written approval, you understand that you have a continuing obligation to advise the President and CEO of MSA at such time as any activity of either the Company or such other business presents you with a conflict of interest as an employee of the Company. Should any matter or dealings in which you are now involved or hereafter become involved, on your own behalf or as an employee of the Company, appear to present a possible conflict of interest under the Company policy then in effect, you will promptly disclose the facts to the President and CEO of MSA so that a determination can be made as to whether a conflict of interest does exist. You will take whatever action is requested of you by MSA to resolve any conflict which it finds to exist.
Outside Business Activity. Notwithstanding the preceding Paragraph 8, Mr. Pottruck acknowledges while he is employed by the Company p▇▇▇▇▇▇▇ ▇▇ ▇he terms of this Agreement, he must continue to seek pre-approval from the Company for any outside business activities he may wish to undertake with other groups, organizations, companies, associations, etc., (non-profit or otherwise), in accordance with the Company's Compliance policies, regardless of whether he would receive compensation for the activity. For any type of proposed outside business activity, Mr. Pottruck agrees to inform Carrie Dwyer, EVP Corporate Oversi▇▇▇ (▇▇ ▇▇▇ designee), in adva▇▇▇, ▇▇ ▇▇▇ scope of the business activity, the time commitment, and his anticipated compensation, if any, for that activity. Outside business activity for purposes of this Paragraph 9 includes participation as a member of the Board of Directors of, or services as a consultant to, an outside organization and speaking engagements for any outside organization. Mr. Pottruck acknowledges and agrees that during the time he is ▇▇▇▇▇▇▇▇ ▇▇ the Company pursuant to the terms of this Agreement, he shall not serve as a member of the Board of Directors of, or provide any services as a consultant to, any financial services firms that currently compete, or have announced their intention to compete, directly and materially with the Company. Schwab agrees that it will not unreasonably withhold its approval for Mr. Pottruck to participate on the Board of Directors of, prov▇▇▇ ▇▇▇▇▇▇▇s as a consultant to, or give speeches to non-profits and non-financial services firms, or financial services firms that do not currently directly compete with the Company.