Common use of While Employed Clause in Contracts

While Employed. During Executive’s employment with the Bank, Executive will not directly or indirectly engage or participate, as an employee, owner, partner, shareholder, officer, director, member, advisor, consultant, agent, or otherwise in any Competing Business, and will not permit his name to be used by, or render services of any type for any person or entity developing a Competing Business; except that Executive may make passive investments in the capital stock of a publicly held Competing Business of up to one percent (1%) ownership interest in such Competing Business.