Impermissible Activity definition
Impermissible Activity means any act or omission of the Executive which constitutes a breach by the Executive of any written agreement between the Executive and the Company which provides for the executive’s non-solicitation of the Company employees or customers, non-competition with the Company, non-disclosure of confidential information of the Company, and/or non-disparagement of the Company.
Examples of Impermissible Activity in a sentence
In the event the Executive engages in any Impermissible Activity at any time, the Company may (i) refrain from making any further payments that would otherwise be payable hereunder during the Severance Period, and (ii) recover from the Executive any and all payments made hereunder prior to the Company’s discovery of the Executive’s engagement in Impermissible Activities.
Neither Company nor any of its subsidiaries is engaged in an activity in which it would be impermissible, pursuant to Section 1467a(c)(9)(B) of Title 12 of the U.S. Code, as added by Section 401 of the ▇▇▇▇▇-▇▇▇▇▇-▇▇▇▇▇▇ Act, for a savings and loan holding company that acquired control of a savings association after May 4, 1999, to engage (an "Impermissible Activity").