Common use of Employee Performance Clause in Contracts

Employee Performance. Employee accepts employment with Company on the terms and conditions provided in this Agreement. Employee recognizes Employee owes to Company duties of loyalty, fidelity and obedience in all matters pertaining to such employment. Employee shall serve Company diligently and faithfully, shall timely perform all duties to the best of Employee’s ability and in compliance with Company’s reasonable standards of performance, and shall devote Employee’s time and best efforts to the conduct of Company’s business. Company acknowledges that from time to time persons in the High-Tech EMPLOYMENT, CONFIDENTIALITY AND NONCOMPETITION AGREEMENT 1 industry, in particular, but not limited to, the semiconductor, eCommerce, software and security, and in the real-estate industry, seek Employee’s advice or consultation. Provided that Employee does not disclose Confidential Information to such persons or intentionally act against Employer’s interests, the Executive may provide such advice or consultation if it does not materially interfere with Executive’s duties hereunder. Notwithstanding the foregoing, the parties of this Agreement recognize and agree that the Employee may engage in passive personal investments and other business activities which do not conflict, directly or indirectly, with the business affairs of the Company or interfere with Employee’s performance of Employee’s duties and responsibilities hereunder. In that regard, Employee may serve on the Board(s) of Directors or Management Board(s) of up to three (3) external companies of Employee’s choice, unless larger number is approved by the iTerra Board of Management, so long as service on any of such Boards simultaneously with Employee’s service for the Company does not conflict or interfere with performance of Employee’s duties and responsibilities hereunder.