| ||7.3 || |
COVENANTS FOLLOWING TERMINATION
For a period of 18 months following the termination of Executives employment for any reason, Executive will not:
(a) enter into or engage in any business which competes with the Companys business within the Restricted Territory (as defined in Section 7.7);
(b) solicit customers, business, patronage or orders for, or sell, any products and services in competition with, or for any business, wherever located, that competes with, the Companys business within the Restricted Territory;
(c) divert, entice or otherwise take away any customers, business, patronage or orders of the Company within the Restricted Territory, or attempt to do so; or
(d) promote or assist, financially or otherwise, any person, firm, association, partnership, corporation or other entity engaged in any business which competes with the Companys business within the Restricted Territory.
(a) For the purposes of Sections 7.2 and 7.3 inclusive, but without limitation thereof, Executive will be in violation thereof if Executive engages in any or all of the activities set forth therein directly as an individual on Executives own account, or indirectly as a partner, joint venturer, employee, agent, salesperson, consultant, officer and/or director of any firm, association, partnership, corporation or other entity, or as a stockholder of any corporation in which Executive or Executives spouse, child or parent owns, directly or indirectly, individually or in the aggregate, more than five percent (5%) of the outstanding stock or Voting Securities.
(b) For purposes of this Agreement, Voting Securities shall have the meaning provided in Board of Governors of the Federal Reserve System Regulation Y, §225.2(q). As of the Effective Date, the Companys only Voting Securities were its outstanding shares of Class A Common Stock.
For the purposes of this Section 7, the Company shall include the Bank and any and all direct and indirect subsidiaries, parents, affiliated, or related companies of the Company for which Executive worked or had responsibility at the time of termination of Executives employment and at any time during the two (2) year period prior to such termination.
| ||7.6 || |
THE COMPANYS BUSINESS
For the purposes of this Agreement, the Companys business means the business of banking, fiduciary, trust and custody services (Fiduciary Services), securities, insurance brokerage, investment management, advice and services (Investment Management), payments, money transmissions, lending, extending credit, deposit taking, whether domestic, international or both, and all services incidental thereto; providing services similar to or the same as the services that Executive provided for the Company and/or its affiliates for his own benefit of for the benefit of any person or entity engaged in the business of banking, Fiduciary Services, Investment Management, payments and money transmissions,