Common use of Not to Compete Clause in Contracts

Not to Compete. For the period beginning on the date of this Agreement and continuing for three years after the Termination Date (except as modified pursuant to Section 7.3), the Executive shall not, directly or indirectly (including through a spouse or other family member), engage in, invest in, or enter into or participate in, at any place within North America any Competitive Business (as defined below), either as an individual for his own account, or as a partner or a joint venturer, or as an officer, director, consultant, independent contractor or holder of more than a 1% equity interest in any other person, firm, partnership, corporation, limited liability company or other business entity or as an employee, agent, consultant or salesperson for any person. For purposes of this Section 6, the term "Competitive Business" shall mean any business of electronic transmission of financial data or any other business or commercial activity that competes with or is reasonably likely to compete with or adversely affect any part or area of the Company's current or proposed business at any time throughout the entire period of the Executive's employment by the Company.