Non-Competition Clause Example from Business Contracts

Non-Competition. The Employee agrees that during his employment by the Employer hereunder and, in the event of his termination other than by the Employer without Cause pursuant to Section 3.2.1(b), or by the Employee for Cause pursuant to Section 3.2.2(a), for a period of thirty-six (36) months thereafter, the Employee will not (except on behalf of or with the prior written consent of the Employer), within the Area, either directly or indirectly, on his own behalf or in the service or on behalf of others, as an ...executive employee or in any other capacity which involves duties and responsibilities similar to those undertaken for the Employer, engage in any business which is the same as or essentially the same as the Business of the Employer. Notwithstanding the foregoing, the Employer agrees that the Employee may own up to 5% of the voting shares of any financial institution engaged in the Business of the Employer in the Area. View More