Common use of Effect of Certain Transactions Clause in Contracts

Effect of Certain Transactions. a. Notwithstanding anything to the contrary or in the Agreement, the Optionee shall forfeit 100% of the Options granted pursuant to this Agreement, whether or not vested, if the Optionee breaches the provisions of subsections (b) or (d) of this Section 9. b. During the period that the Optionee is employed by the Company or any affiliate of the Company (the "Service Term") and for a period of one year thereafter, the Optionee shall not, in the continental United States, directly or indirectly, own, manage, operate, join, control, be employed by, or participate in the ownership, management, operation or control of or be connected in any manner, including but not limited to holding the positions of shareholder, director, officer, consultant, independent contractor, employee, partner, or investor, with any Competing Enterprise. For purposes of this Section, the term "Competing Enterprise" shall mean any person, corporation, partnership or other entity engaged in the operation of an internet service provider. The prohibition of this Section 9 shall not be deemed to prevent Optionee from owning 2% or less of any class of equity securities registered under Section 12 of the Exchange Act. During the Service Term and for a period of one year thereafter, the Optionee shall not interfere with the Company's relationship with, or endeavor to entice away from the Company, any person who at any time during the Service Term was an employee or customer of the Company or otherwise had a material business relationship with the Company.

Appears in 7 contracts

Sources: Non Qualified Stock Option Agreement (Internet America Inc), Non Qualified Stock Option Agreement (Internet America Inc), Non Qualified Stock Option Agreement (Internet America Inc)

Effect of Certain Transactions. a. (a) Notwithstanding anything to the contrary or in the Agreement, the Optionee shall forfeit 100% of the Options granted pursuant to this Agreement, whether or not vested, if the Optionee breaches the provisions of subsections (b) or (d) of this Section 98. b. (b) During the period that the Optionee is employed by the Company or any affiliate of the Company (the "Service Term") and for a period of one year thereafter, the Optionee shall not, in the continental United States, directly or indirectly, own, manage, operate, join, control, be employed by, or participate in the ownership, management, operation or control of or be connected in any manner, including but not limited to holding the positions of shareholder, director, officer, consultant, independent contractor, employee, partner, or investor, with any Competing Enterprise. For purposes of this Section, the term "Competing Enterprise" shall mean any person, corporation, partnership or other entity engaged in the operation of an internet service provider. The prohibition of this Section 9 8 shall not be deemed to prevent Optionee from owning 2% or less of any class of equity securities registered under Section 12 of the Exchange Act. During the Service Term and for a period of one year thereafter, the Optionee shall not interfere with the Company's relationship with, or endeavor to entice away from the Company, any person who at any time during the Service Term was an employee or customer of the Company or otherwise had a material business relationship with the Company.

Appears in 5 contracts

Sources: Non Qualified Stock Option Agreement (Internet America Inc), Non Qualified Stock Option Agreement (Smith Jack T), Non Qualified Stock Option Agreement (Internet America Inc)

Effect of Certain Transactions. a. Notwithstanding anything to the contrary or in the Agreement, the Optionee shall forfeit 100% of the Options granted pursuant to this Agreement, whether or not vested, if the Optionee breaches the provisions of subsections (b) or (d) of this Section 9. b. During the period that the Optionee is employed by the Company or any affiliate of the Company (the "Service Term") and for a period of one year thereafter, the Optionee shall not, in the continental United States, directly or indirectly, own, manage, operate, join, control, be employed by, or participate in the ownership, management, operation or control of or be connected in any manner, including but not limited to holding the positions of shareholder, director, officer, consultant, independent contractor, employee, partner, or investor, with any Competing Enterprise. For purposes of this Section, the term "Competing Enterprise" shall mean any person, corporation, partnership or other entity engaged in the operation of an internet service providerprovider ("ISP"), but shall exclude any division or affiliate of an ISP not engaged in the operation of an ISP. The prohibition of this Section 9 shall not be deemed to prevent Optionee from owning 2% or less of any class of equity securities registered under Section 12 of the Exchange Act. During the Service Term and for a period of one year thereafter, the Optionee shall not interfere with the Company's relationship with, or endeavor to entice away from the Company, any person who at any time during the Service Term was an employee or customer of the Company or otherwise had a material business relationship with the Company.

Appears in 1 contract

Sources: Non Qualified Stock Option Agreement (Internet America Inc)

Effect of Certain Transactions. a. (a) Notwithstanding anything to the contrary or in the Agreement, the Optionee shall forfeit 100% of the Options granted pursuant to this Agreement, whether or not vested, if the Optionee breaches the provisions of subsections (b) or (dc) of this Section 9. b. (b) During the period that the Optionee is employed by the Company or any affiliate of the Company (the "Service Term") and for a period of one year thereafter, the Optionee shall not, in the continental United States, directly or indirectly, own, manage, operate, join, control, be employed by, or participate in the ownership, management, operation or control of or be connected in any manner, including but not limited to holding the positions of shareholder, director, officer, consultant, independent contractor, employee, partner, or investor, with any Competing Enterprise. For purposes of this Section, the term "Competing Enterprise" shall mean any person, corporation, partnership or other entity engaged in the operation of an internet service provider. The prohibition of this Section 9 shall not be deemed to prevent Optionee from owning 2% or less of any class of equity securities registered under Section 12 of the Exchange Act. During the Service Term and for a period of one year thereafter, the Optionee shall not interfere with the Company's relationship with, or endeavor to entice away from the Company, any person who at any time during the Service Term was an employee or customer of the Company or otherwise had a material business relationship with the Company.the

Appears in 1 contract

Sources: Non Qualified Stock Option Agreement (Hunt William O)