Common use of Restriction on Unfair Competition Clause in Contracts

Restriction on Unfair Competition. The Participant agrees that during employment with the Company, and for a period of twelve (12) months following the termination of the Participant’s employment with the Company, the Participant will not work for or assist a Competing Business in any capacity (as employee, consultant, contractor, officer, director, investor, agent, or otherwise) that would involve: (i) the same or substantially similar functions or responsibilities to those the Participant performed for the Company; or (ii) supervision over the same or substantially similar functions or responsibilities. This restriction is limited to business activities within Asia Pacific, North America, Latin America and Europe. These restrictions do not prohibit ownership of securities in widely held corporations that are quoted and sold on the open market. The Participant and the Company stipulate that the foregoing is enforceable, reasonable, and necessary to protect the Company’s legitimate business interests such as goodwill, trade secrets and confidential information.