Common use of Proprietary Intellectual Property Clause in Contracts

Proprietary Intellectual Property. The Executive agrees to treat as for the sole benefit of the Company and the Subsidiaries, and fully and promptly disclose and assign to them without additional compensation, all proprietary intellectual property, including, without limitation, all ideas, discoveries, inventions and improvements, patentable or not, as well as all formulae, processes, know-how, patent rights, letters patent, programs, copyrights, trademarks, trade names, and applications therefor filed in the United States and all other countries, and any and all rights and interests in, to and under the same, made, conceived, acquired, reduced to practice or otherwise possessed by the Executive, alone or with other employees, during or after usual working hours, either on or off the job, and which are related to the business of the Company or the Subsidiaries. In addition, the Executive agrees that, upon request, he will promptly make all disclosures, execute all instruments and papers, and perform all acts whatsoever necessary or desired by the Company or any Subsidiary, to vest in and assign to it, its successors, assigns and nominees, fully and completely, all rights created or contemplated by this Section 10 and which may be necessary or desirable to enable it, its successors, assigns and nominees to secure and enjoy the full benefits and advantages thereof, including any and all applications, writings or other documents, as may be necessary to apply for and obtain any patent, copyright or trademark registration by it or any assignment thereof. The covenant made by the Executive under the terms of this Section 10 shall be enforceable for the term of this Agreement and for twelve (12) months immediately following the termination or expiration of this Agreement either under the terms of Section 3 or Section 13 hereof.