Non-Competition definition
Non-Competition is stricken and replaced with the following:
Non-Competition is amended by replacing the definition of “Responsibilities” with the following:
Non-Competition. Period means (i) the period commencing and ending on , or any part thereof, during which you are employed by the Control Group and (ii) if your employment with the Control Group terminates for any reason during such period, the one-year period commencing on the date your employment with the Control Group terminates. Notwithstanding the foregoing, the Non-Competition Period shall not extend beyond the date your employment with the Control Group terminates if such termination of employment occurs following a “Change in Control” as defined in Attachment A hereto. You agree that the breach by you of the provisions included herein under the heading “Non-Competition” (the “Non-Competition Provision”) would result in irreparable injury and damage to the Company for which the Company would have no adequate remedy at law. You therefore agree that in the event of a breach or a threatened breach of the Non-Competition Provision, the Company shall be entitled to (i) an immediate injunction and restraining order to prevent such breach, threatened breach, or continued breach, including by any and all persons acting for or with you, without having to prove damages and (ii) any other remedies to which the Company may be entitled at law or in equity. The terms of this paragraph shall not prevent the Company from pursuing any other available remedies for any breach or threatened breach of the Non-Competition Provision, including, but not limited to, recovery of damages. In addition, in the event of your breach of the Non-Competition Provision, any stock options covered by this Nonstatutory Stock Option Award Agreement (“Award Agreement”) that are then unexercised (whether or not vested) shall be immediately cancelled. You and the Company further agree that the Non-Competition Provision is reasonable and that the Company would not have granted the stock option provided for in this Award Agreement but for the inclusion of the Non-Competition Provision herein. If any provision of the Non-Competition Provision is found by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time or over too great a range of activities or in too broad a geographic area, it shall be interpreted to extend over the maximum period of time, range of activities, or geographic area as to which it may be enforceable. The validity, construction, and performance of the Non-Competition Provision shall be governed by the laws of the State of New York without re...
Examples of Non-Competition in a sentence
Except as expressly provided in Sections 4(a) and 4(b), upon the Employment Termination Date (i) all of Executive’s rights to Base Salary and Benefits (except as mandated by applicable law) hereunder (if any) shall cease and (ii) no other severance, compensation, or retirement benefits shall be payable by the Ladder Companies to Executive other than the Elective Severance Payment (as defined in Section 9(a)) if the Company has made a Non-Competition Extension Election.
In particular, this agreement supersedes the Confidentiality, Non-Solicitation and Non-Competition Agreement between the Company and Executive dated August 16, 2017, which is hereby terminated and of no further force and effect.
Subject to Section 4(b)(iii), in the event of any breach or violation by the Executive of any of the provisions of Section 4(a), Section 4(b)(i) or Section 4(b)(ii), the running of the Non-Disclosure Period, Non-Competition Period, or Non-Solicitation Period, as the case may be, shall be tolled during the continuation of any breach or violation by the Executive.
Confidentiality, Non-Competition and Non-Solicitation Agreement signed by ▇▇▇▇▇▇ ▇▇▇▇▇▇ on June 18, 2021.
Subject to Section 4(b)(iii), in the event of any breach or DM_US 156368491-1.103640.0013 violation by the Executive of any of the provisions of Section 4(a), Section 4(b)(i) or Section 4(b)(ii), the running of the Non-Disclosure Period, Non-Competition Period, or Non-Solicitation Period, as the case may be, shall be tolled during the continuation of any breach or violation by the Executive.
More Definitions of Non-Competition
Non-Competition. Period means: the period commencing on the Date of Grant and ending on the Vesting Date, or any part thereof, during which the Executive is employed by the Control Group and (ii) if the Executive’s employment with the Control Group terminates for any reason during such period, the [two-year/one-year] period commencing on the date his employment with the Control Group terminates. Notwithstanding the foregoing, the Non-Competition Period shall not extend beyond the date the Executive’s employment with the Control Group terminates if such termination of employment occurs following a “Change in Control” as defined in Attachment A hereto.
Non-Competition. By signing this Agreement Employee agrees that:
Non-Competition means, during the Non-Compete Period, Participant shall not, directly or indirectly, own, manage, operate, join, control, be employed by, or participate in the ownership, management, operation or control of, or be connected in any manner with, including, without limitation, holding any position as a shareholder, director, officer, consultant, independent contractor, employee, partner, or investor in, any person or entity that provides or offers products or services that are the same as or substantially similar to the products and services offered as part of the Company’s business (as described in the Company’s latest Annual Report on Form 10-K filed with the SEC). Nothing herein shall prohibit Participant from being a passive owner of not more than five percent (5%) of the outstanding stock of any class of a corporation which is publicly traded, so long as Participant has no active participation in the business of such corporation.
Non-Competition means while employed with the Company and for 24 months after his termination or resignation, for whatever reason, directly or indirectly, on his own behalf or on behalf of a Competitive Business (as specified in Exhibit A), in any geographic area or market where he (or a direct report of his business unit) provided services to the Company during the preceding 12 months: (I) engages in or is employed by or affiliated with a Competitive Business in which he performs the same or similar duties or responsibilities or provides comparable services that he performed or provided while employed with the Company; (II) offers to provide to any client or prospective client similar services in the same line of business to those which he conducted, provided or offered to provide while employed by the Company; (III) renders advice or services to, or otherwise assists, any Competitive Business in rendering advice or services similar to that advice or services offered or provided by the Company through him or his business unit to any client or prospective client; (IV) diverts or attempts to divert any client or prospective client from the Company to a Competitive Business; (V) transacts any business with any client or prospective client which, in any manner, would have, or is likely to have, an adverse effect upon the Company’s existing or prospective business relationships; and/or (VI) develops, acquires or maintains an ownership interest in a Competitive Business, provided that an ownership interest of less than 5% of the outstanding capital stock of a publicly traded Competitive Business shall not be a violation of this provision.
Non-Competition. The following provisions replace Section 6 of the Agreement in its entirety: 6A.
Non-Competition. NON-MITIGATION:
Non-Competition is modified by adding the following: The restrictions related to competitive activities only apply while Employee is employed by the Company. Employee further acknowledges that the restrictions do not prevent Employee from exercising a lawful profession, trade, or business as they only apply while Employee is employed by the Company.