No Competition During Severance Period. If this Agreement is being entered into in connection with an acquisition of COMPANY, then until the COBRA Severance End Date, SXXXXXX agrees that he will not, directly or indirectly, whether as an officer, director, stockholder, partner, proprietor, associate, representative, consultant, or in any capacity whatsoever engage in, become financially interested in, be employed by, provide services to, or have any business connection with, any other person, corporation, firm, partnership or other entity whatsoever which competes directly or indirectly with COMPANY throughout the world, in the business now conducted by COMPANY. However, notwithstanding anything above to the contrary, SXXXXXX may own, as a passive investor, securities of any publicly traded competitor corporation, so long as his direct holdings in any one such corporation shall not in the aggregate constitute more than 1% of the voting stock of such corporation.
No Competition During Severance Period. Until the Severance End Date, XXXXXXXX agrees that he will not, directly or indirectly, whether as an officer, director, stockholder, partner, proprietor, associate, representative, consultant, or in any capacity whatsoever engage in, become financially interested in, be employed by, provide services to, or have any business connection with, any other person, corporation, firm, partnership or other entity whatsoever which competes directly or indirectly with COMPANY throughout the world, in the business now conducted by COMPANY. However, notwithstanding anything above to the contrary, XXXXXXXX may own, as a passive investor, securities of any publicly traded competitor corporation, so long as his direct holdings in any one such corporation shall not in the aggregate constitute more than 1% of the voting stock of such corporation.
No Competition During Severance Period. During the Severance Period, Xx. Xxxxx agrees that he will not, directly or indirectly through a third party (i.e., person, corporation, firm, partnership or other entity), whether as an officer, director, stockholder, partner, proprietor, associate, representative, consultant, or in any capacity whatsoever engage in, become financially interested in, be employed by, provide services to, or have any business connection with, any other person, corporation, firm, partnership or other entity whatsoever that competes with the Company in the United States in any line of business engaged in by the Company as of the date of this Agreement. Xx. Xxxxx agrees that if he is contemplating an affiliation of any sort with a third party (i.e., person, corporation, firm, partnership or other entity) that competes with the Company in the United States in any line of business engaged in by the Company as of the date of this Agreement, he shall notify the Company in writing so that a determination may be made by the Company as to whether it intends to enforce its rights provided in the preceding sentence. Any such determination will be made by the Board in good faith. However, notwithstanding anything above to the contrary, Xx. Xxxxx may own, as a passive investor, securities of any publicly traded competitor corporation, so long as his direct holdings in any one such corporation shall not in the aggregate constitute more than 1% of the voting stock of such corporation. Further, notwithstanding anything above to the contrary, iVOW acknowledges that Xx. Xxxxx is a board certified internal medical physician and that nothing in this or any other section of this Agreement is to be construed as to prevent him from the clinical practice of medicine. iVOW also acknowledges that Xx. Xxxxx is a Certified Physician Executive and prior to joining iVOW earned his living as an independent consultant and that nothing in this or any other section of this Agreement is to be construed as to prevent him from utilizing his consulting expertise in any line of business other than that which the Company is engaged in as of the date of this Agreement.
