Common use of Noncompetition Provision Clause in Contracts

Noncompetition Provision. During the term of this Agreement (including any monthly extension of the initial term as contemplated in Section 5) and for ninety (90) days thereafter, the Consultant shall not, except with the prior written consent of the Corporation, which may be withheld in the Corporation's sole discretion, engage, as an employee, consultant, equity owner or partner, in any business activities anywhere in the world which are directly competitive with those of the Corporation. Notwithstanding this restriction, the Consultant shall not be prohibited from engaging in any business activities in which his sole connection to such business activities is the passive ownership of less than 10% of the outstanding equity interests of the entity involved, and he may exceed this 10% ownership threshold with the written consent of the Corporation. This provision shall not affect the Consultant's ownership or service as an officer or director of ▇▇▇▇▇ ▇▇▇▇▇ & Associates, Inc., but the Consultant's activities as a shareholder, officer and director of ▇▇▇▇▇ ▇▇▇▇▇ & Associates, Inc. shall not be exempt from the provisions of this Section 8.