Common use of Competing With the Company Clause in Contracts

Competing With the Company. If Employee’s employment with the Company or a Subsidiary is terminated for any reason whatsoever, and within 12 months after the date thereof such Employee either (i) accepts employment with any competitor of, or otherwise engages in competition with, the Company or any of its Subsidiaries, (ii) solicits any customers or employees of the Company or any of its Subsidiaries to do business with or render services to the Employee or any business with which the Employee becomes affiliated or to which the Employee renders services or (iii) uses or discloses to anyone outside the Company any confidential information or material of the Company or any of its Subsidiaries in violation of the Company’s policies or any agreement between the Employee and the Company or any of its Subsidiaries, the Board, in its sole discretion, may require such Employee to return to the Company the economic value of any award that was realized or obtained by such Employee at any time during the period beginning on the date that is six months prior to the date such Employee’s employment with the Company is terminated. In such event, Employee agrees to remit the economic value to the Company in accordance with Section 5.5.2.

Appears in 2 contracts

Samples: Stock Option Agreement (Mojo Organics, Inc.), Stock Option Agreement (Mojo Organics, Inc.)

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Competing With the Company. If a Employee’s 's employment with the Company or a Subsidiary is terminated for any reason whatsoever, and within 12 months after the date thereof such Employee either (i) accepts employment with any competitor of, or otherwise engages in competition with, the Company or any of its Subsidiaries, (ii) solicits any customers or employees of the Company or any of its Subsidiaries to do business with or render services to the Employee or any business with which the Employee becomes affiliated or to which the Employee renders services or (iii) uses or discloses to anyone outside the Company any confidential information or material of the Company or any of its Subsidiaries in violation of the Company’s 's policies or any agreement between the Employee and the Company or any of its Subsidiaries, the BoardCommittee, in its sole discretion, may require such Employee to return to the Company the economic value of any award that was realized or obtained by such Employee at any time during the period beginning on the date that is six 12 months prior to the date such Employee’s 's employment with the Company is terminated. In such event, Employee agrees to remit the economic value to the Company in accordance with Section 5.5.25.4(b).

Appears in 1 contract

Samples: Stock Option Agreement (Cpi Aerostructures Inc)

Competing With the Company. If Employee’s employment with the Company or a Subsidiary is terminated for any reason whatsoever, and within 12 months after the date thereof such Employee either (i) accepts employment with any competitor of, or otherwise engages in competition with, the Company or any of its Subsidiaries, (ii) solicits any customers or employees of the Company or any of its Subsidiaries to do business with or render services to the Employee or any business with which the Employee becomes affiliated or to which the Employee renders services or (iii) uses or discloses to anyone outside the Company any confidential information or material of the Company or any of its Subsidiaries in violation of the Company’s policies or any agreement between the Employee and the Company or any of its Subsidiaries, the Board, in its sole discretion, may require such the Employee to return to the Company the economic value of any award that was realized or obtained by such Employee at any time during the period beginning on the date that is six 6 months prior to the date such Employee’s employment with the Company or a Subsidiary is terminated. In such event, Employee agrees to remit the economic value to the Company in accordance with Section 5.5.2.

Appears in 1 contract

Samples: Stock Option Agreement (Kitara Media Corp.)

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Competing With the Company. If Employee’s employment with the Company or a Subsidiary is terminated for any reason whatsoever, and within 12 months after the date thereof such Employee either (i) accepts employment with any competitor of, or otherwise engages in competition with, the Company or any of its Subsidiaries, (ii) solicits any customers or employees of the Company or any of its Subsidiaries to do business with or render services to the Employee or any business with which the Employee becomes affiliated or to which the Employee renders services or (iii) uses or discloses to anyone outside the Company any confidential information or material of the Company or any of its Subsidiaries in violation of the Company’s policies or any agreement between the Employee and the Company or any of its Subsidiaries, the BoardCommittee, in its sole discretion, may require such Employee to return to the Company the economic value of any award that was realized or obtained by such Employee at any time during the period beginning on the date that is six 12 months prior to the date such Employee’s employment with the Company is terminated. In such event, Employee agrees to remit the economic value to the Company in accordance with Section 5.5.25.4(b).

Appears in 1 contract

Samples: Stock Option Agreement (Cpi Aerostructures Inc)

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