Competition definition
Examples of Competition in a sentence
For clarity, it is understood that where such Participant is not exempt from Ontario’s statutory prohibition against non-competition covenants, the Participant need not comply with such portion of the Competition Agreement or other similar agreement or covenant which amounts to a prohibited non-competition covenant, and the lack of compliance shall not constitute misconduct by the Participant nor be subject to injunctive relief.
If the Participant engages in misconduct or is believed to have engaged in misconduct, including but not limited to any violation of any of Participant's obligations under the Competition Agreement, the Company shall be entitled to take the actions outlined above for recouping the Incentive Compensation, as the Company deems appropriate under the circumstances.
Any decision by Grantee to cease complying with the Retirement Competition Restriction does not impact any of Grantee’s other obligations under this Agreement, including without limitation Grantee’s obligations under Section 7 of this Agreement.
For avoidance of doubt, the Retirement Competition Restriction does not prohibit Grantee from working for another employer for any period of time following a Retirement; rather, voluntary compliance with the Retirement Competition Restriction by Grantee after their Retirement is a condition that Grantee must satisfy in order to receive the benefit of any unvested Units as of the Retirement to remain outstanding and continue to vest and be eligible for payment upon the Scheduled Vesting Dates.
The Plan, this Award Agreement (including any applicable addendum) and the Competition Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede, in their entirety, all prior undertakings and agreements of the Company and the Participant with respect to the subject matter hereof.