Non-Competition Restriction definition

Non-Competition Restriction means any contractual provision, or any restriction based on or arising from common law, that directly or indirectly restricts the ability or legal right of a Potential Employee to:
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Non-Competition Restriction means: the Executive shall not after termination of his employment, whether on his own behalf, or for any other person, firm, company, business entity or other organisation, be directly or indirectly employed or engaged in or perform services in respect of or be concerned with or interested in or accept a directorship of or hold any other office within any Competing Business in those geographical areas in which he was so involved, on behalf of the Company during the final 12 months of his employment.
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Examples of Non-Competition Restriction in a sentence

  • You agree and understand the Company competes on a worldwide basis, having sales offices internationally that cover geographic areas all over the world, sells the majority of its volume outside the United States, and has multiple foreign competitors, and that this Non-Competition Restriction shall apply worldwide because, for all of these and other reasons, the disclosure of the Company’s Confidential Information would be competitively harmful to the Company.

  • The non-transferability restriction applicable to the Shares under the Plan and the Non-Competition Restriction shall lapse on the Vesting Date.

  • The Non-Competition Restriction imposed upon SP will immediately terminate if DAS substantially ceases its activities in the Field.

  • Within a reasonable time after the Grant Date, the Company shall cause to be delivered to the Holder a certificate for the Shares; provided that the Company shall be entitled to require, as a condition for such delivery, an executed stock power, power of attorney or other instrument satisfactory to the Company to give effect to the forfeiture of such Shares in the event of a violation of the non-transferability restriction or the Non-Competition Restriction.

  • The Holder shall have rights as a shareholder with respect to Shares (including voting, dividend and liquidation rights) effective as of the Grant Date subject, however, to the Non-Competition Restriction and the transfer restrictions set forth in this Agreement and the Plan.

  • Nothing included in this Section 5.4 (Non-Competition Restriction) shall restrict the Executive from owning, for personal investment purposes only, less than 5% of the voting stock of any publicly held corporation or 2% of the ownership interest in any non-publicly held company, provided that the Executive has no connection or relationship with the issuer of such securities other than as a passive investor.

  • Executive further agrees that, in the event he breaches any of the covenants set forth in this Paragraph, the term of Non-Competition Restriction will be extended for the length of time the Executive is in breach.

  • If the Executive, without prior written approval of the Board, breaches the Non-Competition Restriction, the Executive will be entitled to retain any payments made before the date the Non-Competition Restriction was breached; however, the Bank will not make, and the Executive will not be entitled to, any further payments to the Executive under this Agreement after the date of such breach.

  • For the avoidance of doubt, if the post-employment restriction period with respect to a Non-Competition Restriction or Non-Solicitation Restriction set forth in an Award Agreement ends on any date following the last date that all Outstanding Awards are vested and exercisable or distributable, such post-employment restriction period shall not be modified.

  • The parties agree that Section 8 (Non-Solicitation of Employees) of the Employment Agreement is amended by deleting the language in that Section in its entirety and replacing it with the following: For the avoidance of doubt, the parties agree that Section 6 (Non-Competition Restriction) of the Employment Agreement is not incorporated into this Agreement and shall be of no further force and effect.