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TERM
5. The term of employment shall be five years
from the date specified in Schedule A attached to this
Agreement, subject to the following conditions:
(a) This Agreement may be terminated at any
time by mutual agreement in writing of the Corporation
and Employee.
(b) Employee shall have the absolute right
to unilaterally terminate this Agreement by providing
the Board of Directors with written notice of
termination and, in that case, termination shall occur
upon the expiration of ninety (90) days after the date
of the notice.
* * * * * * *
(h) Either party may terminate this
Agreement after the expiration of 15 months by giving
the other 30 days written notice.
RESTRICTIVE COVENANT
6. Employee agrees that during the term of this
Agreement he will not engage in any other business
duties or pursuits whatsoever, directly or indirectly,
except activities approved in writing by the Board of
Directors, directorships in companies not in
competition with the Corporation, and passive personal
investments. Furthermore, Employee will not, directly
or indirectly, acquire, hold, or retain any interest in
any business competing with or similar in nature to the
business of the Corporation, and will not own or hold
to any substantial degree any securities in any company
competing with the Corporation.
* * * * * * *
DISCLOSURE OF INFORMATION
8. Employee recognizes and acknowledges that the
list of the Corporation's clients, as it may exist from
time to time, is a unique asset of the Corporation's
business. Employee will not, during or after the term
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Last modified: May 25, 2011