Common use of Non-Compete Clause Clause in Contracts

Non-Compete Clause. 9.1 During the term of this Agreement the Executive shall not become active, neither directly nor indirectly, neither for his own account nor as an employee, for a business which is directly competing, or where there are concrete indications that it may competing, with the Company or an Affiliate. The Executive shall also refrain from soliciting the employees of the Company or its affiliates or SRVY and its affiliates. This prohibition shall apply also to any consulting or other promoting of such business, even on an intermediate basis, to the starting of any such business and to the taking of any participation or interest in any such business. The prohibition shall not apply to the holding of shares in companies listed on a stock exchange representing less than one percent of the share capital. 9.2 The prohibition in Section 9.1 shall continue to apply for a period of two years following termination of this Agreement on the basis of the business of the Company or an Affiliate carried out on the date of termination of this Agreement (taking into account any business under development by these companies to the extent known by the Executive).. Provided that the Executive has been terminated without an important reason (for cause), and has not resigned for "Good Reason", as defined below, the Executive shall be entitled to compensation payments during such period which in each month shall amount to 50% of one twelfth of the total remuneration base compensation received by the Executive during the 12 preceding months prior to the termination of this Agreement. The Company may waive the prohibition provided for in this Section 9.2 at any time, in which case the obligation to pay compensation shall cease [effective three months following receipt of the notice of waiver]. Section 74c, para. 1

Non-Compete Clause. 9.1 During the term of this Agreement the Executive shall not become active, neither directly nor indirectly, neither for his own account nor as an employee, for a business which is directly competing, or where there are concrete indications that it may competing, with the Company or an Affiliate. The Executive shall also refrain from soliciting the employees of the Company or its affiliates or SRVY and its affiliates. This prohibition shall apply also to any consulting or other promoting of such business, even on an intermediate basis, to the starting of any such business and to the taking of any participation or interest in any such business. The prohibition shall not apply to the holding of shares in companies listed on a stock exchange representing less than one percent of the share capital. 9.2 The prohibition in Section 9.1 shall continue to apply for a period of two years following termination of this Agreement on the basis of the business of the Company or an Affiliate carried out on the date of termination of this Agreement (taking into account any business under development by these companies to the extent known by the Executive).. Provided that the Executive has been terminated without an important reason (for cause), and has not resigned for "Good Reason", as defined below, the Executive shall be entitled to compensation payments during such period which in each month shall amount to 50% of one twelfth of the total remuneration base compensation received by the Executive during the 12 preceding months prior to the termination of this Agreement. The Company may waive the prohibition provided for in this Section 9.2 at any time, in which case the obligation to pay compensation shall cease [effective three months following receipt of the notice of waiver]. Section 74c, para. 1provided