Common use of Non-Competition/Solicitation Clause in Contracts

Non-Competition/Solicitation. A. The Executive agrees that during his employment with the Corporation and for a period of two years after Executive leaves the Corporation's employ for any reason, he shall not, without the written consent of the Corporation, directly or indirectly, either individually or as an employee, agent, partner, shareholder, consultant, option holder, lender of money, guarantor or in any other capacity, participate in, engage in or have a financial interest or management position or other interest in any business, firm, corporation or other entity if it competes directly with any business operation conducted by the Corporation or its subsidiaries or affiliates or any successor or assign thereof, nor will he solicit any other person to engage in any of the foregoing activities. Participation in the management of any business operation other than in connection with the management of a business operation which is in direct competition with the Corporation or its subsidiaries or affiliates or any successor or assign thereof shall not be deemed to be a breach of this Section 11(A). The foregoing provisions of this Section 11(A) shall not prohibit the ownership by the Executive (as the result of open market purchase) of 1% or less of any class of capital stock of a corporation which is regularly traded on a national securities exchange or on the NASDAQ System.

Appears in 4 contracts

Samples: Employment Agreement (Sentry Technology Corp), Employment Agreement (Sentry Technology Corp), Employment Agreement (Sentry Technology Corp)

AutoNDA by SimpleDocs

Non-Competition/Solicitation. A. (a) The Executive agrees that during his employment with the Corporation and for a period of two years after Executive leaves the Corporation's ’s employ for any reason, he shall not, without the written consent of the Corporation, directly or indirectly, either individually or as an employee, agent, partner, shareholder, consultant, option holder, lender of money, guarantor or in any other capacity, participate in, engage in or have a financial interest or management position or other interest in any business, firm, corporation or other entity if it competes directly with any business operation conducted by the Corporation or its subsidiaries or affiliates or any successor or assign thereofthereof at the time the Executive’s employment with the Corporation is terminated, nor will he solicit any other person to engage in any of the foregoing activities. Participation in the management operation of any business operation other than in connection with the management operation of a business operation which is in direct competition with the Corporation or its subsidiaries or affiliates or any successor or assign thereof shall not be deemed to be a breach of this Section 11(A10(a). The foregoing provisions of this Section 11(A10(a) shall not prohibit the ownership by the Executive (as the result of open market purchase) of 1% or less of any class of capital stock of a corporation which is regularly traded on a national securities exchange or exchange, on the NASDAQ SystemSystem or on an over-the-counter system.

Appears in 1 contract

Samples: Employment Agreement (Innovative Food Holdings Inc)

Non-Competition/Solicitation. A. The Executive agrees that during his employment with the Corporation and for a period of two years after Executive leaves the Corporation's employ for any reason, he shall not, without the written consent of the Corporation, directly or indirectly, either individually or as an employee, agent, partner, shareholder, consultant, option holder, lender of or money, guarantor or in any other capacity, participate in, engage in or have a financial interest or -14- management position or other interest in any business, firm, corporation or other entity if it competes directly with any business operation conducted by the Corporation or its subsidiaries or affiliates or any successor or assign thereof, nor will he solicit any other person to engage in any of the foregoing activities. Participation in the management of any business operation other than in connection with the management of a business operation which is in direct competition with the Corporation or its subsidiaries or affiliates or any successor or assign thereof shall not be deemed to be a breach of this Section 11(A). The foregoing provisions of this Section 11(A) shall not prohibit the ownership by the Executive (as the result of open market purchase) of 1% or less of any class of capital stock of a corporation which is regularly traded on a national securities exchange or on the NASDAQ System.

Appears in 1 contract

Samples: Employment Agreement (Sentry Technology Corp)

AutoNDA by SimpleDocs

Non-Competition/Solicitation. A. (a) The Executive agrees that during his employment with the Corporation and for a period of two years after Executive leaves the Corporation's ’s employ for any reason, he shall not, without the written consent of the Corporation, directly or indirectly, either individually or as an employee, agent, partner, shareholder, consultant, option holder, lender of money, guarantor or in any other capacity, participate in, engage in or have a financial interest or management position or other interest in any business, firm, corporation or other entity if it competes directly with any business operation conducted by the Corporation or its subsidiaries or affiliates or any successor or assign thereofthereof at the time the Executive’s employment with the Corporation is terminated, nor will he solicit any other person to engage in any of the foregoing activities. Participation in the management operation of any business operation other than in connection with the management operation of a business operation which is in direct competition with the Corporation or its subsidiaries or affiliates or any successor or assign thereof shall not be deemed to be a breach of this Section 11(A9(a). The foregoing provisions of this Section 11(A9(a) shall not prohibit the ownership by the Executive (as the result of open market purchase) of 1% or less of any class of capital stock of a corporation which is regularly traded on a national securities exchange or exchange, on the NASDAQ SystemSystem or on an over-the-counter system.

Appears in 1 contract

Samples: Employment Agreement (Innovative Food Holdings Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.