Common use of Noncompetition and Nonsolicitation Covenants Clause in Contracts

Noncompetition and Nonsolicitation Covenants. (a) Executive covenants and agrees that during his employment with the Company and for the longer of (x) the twelve-month period commencing on his Termination Date, or (y) if severance payments become due to Executive under Section 9 hereof, the date on which the last of such severance payments is due (the “Restricted Period”), whether or not Executive is terminated with or without Cause, or whether such termination is at the instance of Executive (with or without Good Reason) or occurs before or after expiration of the Term, Executive will not (except on behalf of the Company or an Affiliate), directly or indirectly, serve or act as an owner, principal, partner, employee, officer, director, stockholder or consultant (which term does not include acting as an investment banker) of a Competitive Business in the Restricted Area. For purposes hereof, (i) “

Noncompetition and Nonsolicitation Covenants. (a) Executive covenants and agrees that during his employment with and, in the Company and event Executive receives severance payments as provided in Section 8 hereof, for the longer of (x) the twelve-twelve (12) month period commencing on his immediately following Executive’s Termination Date, or (y) if the period immediately following Executive’s Termination Date for which Executive receives severance payments become due pay as provided in Section 8 (whether paid in a lump sum or installments) (such applicable period in clause (x) or (y) being referred to Executive under Section 9 hereof, the date on which the last of such severance payments is due (herein as the “Restricted Period”), whether or not Executive is terminated with or without Cause, or whether such termination is at the instance of Executive (with or without Good Reason) or occurs before or after expiration of the Term, Executive will not (except on behalf of the Company or an Affiliate), directly or indirectly, serve or act as an owner, principal, partner, employee, officer, director, stockholder or consultant (which term does not include acting as in an investment bankerbanking capacity) of a Competitive Business in the Restricted Area. For purposes hereof, (i) “