Competing Business definition
Examples of Competing Business in a sentence
The foregoing is not contingent upon continued employment of Employee for any length of time, but is contingent upon Employee not working for or assisting a Competing Business and is contingent upon Employee’s full compliance with the restrictions contained within Sections 3, 4 and 5 of this Restrictive Covenants Agreement.
During the term of Executive’s employment with Employer, Executive will not, directly or indirectly, whether as owner, partner, shareholder, consultant, agent, employee, co-venturer, lender or creditor or otherwise, engage, participate, assist, support or invest in any Competing Business.
Notwithstanding the foregoing covenants, Executive may own up to five percent (5%) of the outstanding capital stock of a publicly traded corporation which constitutes or is affiliated with a Competing Business, provided that Executive is a passive investor in that corporation and does not provide any assistance or support of any kind, financial or other (other than his ownership of such capital stock), to or serve in any capacity with such corporation or any of its affiliates.
For purposes of this Agreement, a Competing Business shall mean any of the following: (1) any off-price retailer including, without limitation, Burlington Stores, Inc.