Common use of Restrictions on Competitive Employment Clause in Contracts

Restrictions on Competitive Employment. (a) During the Restricted Period, Executive shall not, anywhere in the United States, directly or indirectly, without the prior written approval of the Company, own an interest in or, as principal, agent, employee, consultant or otherwise, engage in activities for or render services to, any firm or business (i) engaged in direct competition with the Company or any of its Affiliates, (ii) conducting a business of the type and character engaged in by the Company or any of its Affiliates at the time of termination, (iii) developing products or services competitive with those of the Company or any of its Affiliates or (iv) conducting any business in which the Company or any of its Affiliates is then engaged if Executive has engaged in activities for such business of the Company or such Affiliates or obtained Proprietary Information with respect thereto (all of the businesses in clauses (i), (ii), (iii) and (iv) collectively, "Competitive Business"). Notwithstanding the foregoing, (A) Executive may have an interest consisting of publicly traded securities constituting less than 5 percent of any class of publicly traded securities in any public company engaged in a Competitive Business so long as he is not employed by and does not consult with, or become a director of or otherwise engage in any activities for, such company and (B) in determining whether business is a Competitive Business, only the activities engaged in by the Company at the time of termination of Executive's employment shall be considered.

Appears in 2 contracts

Samples: Employment Agreement (Webmd Corp /New/), Employment Agreement (Webmd Corp /New/)

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Restrictions on Competitive Employment. (a) During the Restricted Period, Executive shall not, anywhere in the United States, directly or indirectly, without the prior written approval of the Company, own an interest in or, as principal, agent, employee, consultant or otherwise, engage in activities for or render services to, any firm or business (i) engaged in direct competition with the Company or any of its Affiliates, (ii) conducting a business of the type and character engaged in by the Company or any of its Affiliates at the time of termination, (iii) developing products or services competitive with those of the Company or any of its Affiliates or (iv) conducting any business in which the Company or any of its Affiliates is then engaged if Executive has engaged in activities for such business of the Company or such Affiliates or obtained Proprietary Information with respect thereto (all of the businesses in clauses (i), (ii), (iii) and (iv) collectively, "Competitive Business"). Notwithstanding the foregoing, (A) Executive may have an interest consisting of publicly traded securities constituting less than 5 percent of any class of publicly traded securities in any public company engaged in a Competitive Business so long as he is not employed by and does not consult with, or become a director of or otherwise engage in any activities for, such company and (B) in determining whether business is a Competitive Business, only the activities engaged in by the Company at the time of termination of Executive's ’s employment shall be considered.

Appears in 2 contracts

Samples: Employment Agreement (Webmd Corp /New/), Employment Agreement (Emdeon Corp)

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Restrictions on Competitive Employment. (a) During the Restricted Period, Executive shall not, anywhere in any state in the United StatesStates where the Company or its Affiliates (excluding WebMD) conduct business, directly or indirectly, without the prior written approval of the Company, engage in a Competitive Position (as defined below) with, or own an interest in or, as principal, agent, employee, consultant or otherwise, engage in activities for or render services toin, any firm or business that is (i) engaged in direct competition with the Company or any of its AffiliatesAffiliates (excluding WebMD), or (ii) conducting a business of the type and character engaged in by the Company or any of its Affiliates at the time of termination, (iii) developing products or services competitive with those of the Company or any of its Affiliates or (ivexcluding WebMD) conducting any business in which the Company or any of its Affiliates is then engaged if Executive has engaged in activities for such business of the Company or such Affiliates or obtained Proprietary Information with respect thereto (all each of the businesses described in clauses (i), (ii), (iii) and (ivii) collectively, "a “Competitive Business"). Notwithstanding the foregoing, (A) Executive may have an interest consisting of publicly traded securities constituting less than 5 1 percent of any class of publicly public traded securities in any public company engaged in a Competitive Business so long as provided that he is not employed by and does not consult with, or become a director of or otherwise engage in any activities forfor such company. For purposes of this Agreement, “Competitive Position” shall mean any service rendered to a Competitive Business (as a principal, agent, employee, consultant or otherwise) in which Executive will use or is likely to use any Confidential Information or Trade Secrets and in which Executive has duties to such company and (B) engaged in determining whether business is a Competitive Business, only Business that are the activities engaged in same or similar to those actually performed by Executive for the Company at the time of termination of Executive's employment shall be consideredCompany.

Appears in 1 contract

Samples: Employment Agreement (HLTH Corp)

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